L Brands, Inc. (NYSE:LB) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.00-3.20 for the period, compared to the Thomson Reuters consensus estimate of $3.11. L Brands also updated its Q3 guidance to 0.25-0.30 EPS.

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein reiterated an outperform rating and set a $57.00 price target on shares of L Brands in a research report on Monday, September 18th. Zacks Investment Research cut shares of L Brands from a hold rating to a strong sell rating in a research report on Wednesday, August 23rd. FBR & Co reiterated a buy rating and set a $58.00 price target on shares of L Brands in a research report on Wednesday, October 4th. BMO Capital Markets set a $37.00 price target on shares of L Brands and gave the company a market perform rating in a research report on Friday, August 18th. Finally, Bank of America Corporation dropped their price target on shares of L Brands from $35.00 to $32.00 and set an underperform rating for the company in a research report on Friday, August 18th. Seven research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $46.41.

L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share.

L Brands announced that its board has initiated a share repurchase plan on Monday, September 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, Director Allan R. Tessler bought 20,000 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were bought at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the purchase, the director now owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 16.68% of the company’s stock.

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L Brands Company Profile

L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.

Earnings History and Estimates for L Brands (NYSE:LB)

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