Royal Bank Of Canada Analysts Give L Brands, Inc. (LB) a $40.00 Price Target
Several other equities analysts have also issued reports on the company. Jefferies Group LLC set a $30.00 price objective on L Brands and gave the company a sell rating in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. reiterated a buy rating on shares of L Brands in a research report on Thursday, October 5th. Robert W. Baird reiterated a hold rating and issued a $44.00 price objective on shares of L Brands in a research report on Friday, September 1st. Buckingham Research decreased their price objective on L Brands from $62.00 to $52.00 and set a buy rating for the company in a research report on Friday, August 4th. Finally, Cowen and Company reiterated a buy rating and issued a $56.00 price objective on shares of L Brands in a research report on Tuesday, July 4th. Seven analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus 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, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 EPS.
L Brands announced that its board has authorized a stock repurchase plan on Monday, September 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other L Brands news, Director Allan R. Tessler acquired 20,000 shares of L Brands stock in a transaction that occurred on Thursday, September 21st. The shares were acquired at an average cost of $37.00 per share, with a total value of $740,000.00. Following the completion of the purchase, the director now directly owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.68% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Aviva PLC raised its position in L Brands by 5.7% in the second quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock valued at $7,578,000 after purchasing an additional 7,635 shares during the last quarter. Victory Capital Management Inc. raised its position in L Brands by 14.3% in the second quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock valued at $5,142,000 after purchasing an additional 11,967 shares during the last quarter. Swiss National Bank raised its position in L Brands by 2.8% in the second quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock valued at $47,719,000 after purchasing an additional 24,300 shares during the last quarter. Bridgewater Associates LP raised its position in L Brands by 16.5% in the second quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock valued at $4,398,000 after purchasing an additional 11,570 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its position in L Brands by 18.1% in the second quarter. Coronation Fund Managers Ltd. now owns 965,759 shares of the specialty retailer’s stock valued at $52,045,000 after purchasing an additional 148,076 shares during the last quarter. Hedge funds and other institutional investors own 79.66% of the company’s stock.
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.
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