L Brands, Inc. (LB) Releases FY18 Earnings Guidance
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.
WARNING: “L Brands, Inc. (LB) Releases FY18 Earnings Guidance” was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://theolympiareport.com/2017/11/01/l-brands-inc-lb-releases-fy18-earnings-guidance.html.
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.
Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.