L Brands (LB) Debt Trading 1.4% Higher

An issue of L Brands Inc (NYSE:LB) debt rose 1.4% against its face value during trading on Thursday. The debt issue has a 6.75% coupon and will mature on July 1, 2036. The debt is now trading at $85.00 and was trading at $83.25 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.

Several research firms have recently weighed in on LB. KeyCorp upgraded L Brands from an “underweight” rating to a “sector weight” rating in a research report on Thursday. Loop Capital set a $24.00 target price on L Brands and gave the company a “sell” rating in a research report on Thursday. Royal Bank of Canada set a $35.00 price objective on L Brands and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Guggenheim reiterated a “hold” rating on shares of L Brands in a research report on Thursday, July 12th. Finally, B. Riley reduced their price objective on L Brands from $49.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, August 23rd. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and nine have issued a buy rating to the stock. L Brands has an average rating of “Hold” and a consensus target price of $37.02.

Shares of NYSE LB traded up $2.11 during trading on Thursday, reaching $36.96. The stock had a trading volume of 9,075,166 shares, compared to its average volume of 5,025,173. L Brands Inc has a fifty-two week low of $25.89 and a fifty-two week high of $63.10. The stock has a market capitalization of $9.51 billion, a PE ratio of 11.55, a PEG ratio of 1.20 and a beta of 0.33.

L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. L Brands had a negative return on equity of 84.14% and a net margin of 6.87%. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. As a group, analysts expect that L Brands Inc will post 2.51 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.49%. L Brands’s payout ratio is presently 75.00%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new position in L Brands during the 2nd quarter worth $104,000. Gradient Investments LLC acquired a new position in L Brands during the 2nd quarter worth $109,000. Private Capital Group LLC grew its stake in L Brands by 6,777.3% during the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock worth $111,000 after purchasing an additional 2,982 shares in the last quarter. USAdvisors Wealth Management LLC acquired a new position in L Brands during the 3rd quarter worth $208,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in L Brands during the 2nd quarter worth $216,000. 73.47% of the stock is owned by hedge funds and other institutional investors.

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About L Brands (NYSE:LB)

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

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