L Brands Inc (NYSE:LB) Declares Quarterly Dividend of $0.30

L Brands Inc (NYSE:LB) announced a quarterly dividend on Friday, August 9th, RTT News reports. Stockholders of record on Friday, August 23rd will be paid a dividend of 0.30 per share by the specialty retailer on Friday, September 6th. This represents a $1.20 annualized dividend and a dividend yield of 6.02%. The ex-dividend date is Thursday, August 22nd.

L Brands has raised its dividend payment by an average of 17.0% annually over the last three years. L Brands has a dividend payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect L Brands to earn $2.56 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 46.9%.

Shares of NYSE LB opened at $19.92 on Wednesday. L Brands has a 1-year low of $19.45 and a 1-year high of $38.00. The business has a 50-day moving average of $24.76 and a 200-day moving average of $25.35. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 7.06, a PEG ratio of 0.77 and a beta of 0.69.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 EPS for the quarter. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.56 billion. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. L Brands’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. Sell-side analysts expect that L Brands will post 2.4 earnings per share for the current fiscal year.

A number of research analysts recently commented on the company. Citigroup downgraded L Brands from a “buy” rating to a “neutral” rating and increased their price target for the company from $26.50 to $27.00 in a report on Monday, July 15th. Wedbush reissued a “neutral” rating on shares of L Brands in a report on Monday. Royal Bank of Canada set a $35.00 price target on L Brands and gave the company a “buy” rating in a report on Friday, May 24th. Bank of America set a $30.00 price target on L Brands and gave the company a “hold” rating in a report on Thursday, May 23rd. Finally, Odeon Capital Group assumed coverage on L Brands in a report on Friday, April 26th. They issued a “buy” rating for the company. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. L Brands has a consensus rating of “Hold” and an average price target of $31.17.

L Brands Company Profile

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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Dividend History for L Brands (NYSE:LB)

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