Wedbush Reaffirms “Neutral” Rating for L Brands (NYSE:LB)

Wedbush reiterated their neutral rating on shares of L Brands (NYSE:LB) in a research report released on Monday morning, Zacks.com reports. Wedbush also issued estimates for L Brands’ Q2 2020 earnings at $0.21 EPS, Q3 2020 earnings at $0.08 EPS, Q4 2020 earnings at $1.99 EPS, FY2020 earnings at $2.42 EPS and FY2021 earnings at $2.56 EPS.

A number of other brokerages have also weighed in on LB. Wells Fargo & Co set a $35.00 price objective on L Brands and gave the company an outperform rating in a report on Thursday, May 23rd. Odeon Capital Group began coverage on L Brands in a report on Friday, April 26th. They issued a buy rating on the stock. Loop Capital cut their price objective on L Brands to $20.00 and set a sell rating on the stock in a report on Wednesday, May 15th. Bank of America set a $30.00 price objective on L Brands and gave the company a hold rating in a report on Thursday, May 23rd. Finally, Royal Bank of Canada set a $35.00 price objective on L Brands and gave the company a buy rating in a report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $30.96.

Shares of LB stock opened at $19.33 on Monday. The stock’s 50-day simple moving average is $24.48 and its 200-day simple moving average is $25.27. The firm has a market capitalization of $5.57 billion, a PE ratio of 6.85, a P/E/G ratio of 0.77 and a beta of 0.69. L Brands has a fifty-two week low of $17.61 and a fifty-two week high of $38.00.

L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. On average, equities analysts expect that L Brands will post 2.4 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be paid a $0.30 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.21%. L Brands’s payout ratio is 42.55%.

Several institutional investors and hedge funds have recently modified their holdings of the company. First Mercantile Trust Co. purchased a new position in L Brands during the second quarter worth approximately $32,000. Phocas Financial Corp. purchased a new position in L Brands during the second quarter worth approximately $41,000. Investors Research Corp purchased a new position in L Brands during the first quarter worth approximately $127,000. Northwestern Mutual Wealth Management Co. boosted its position in L Brands by 65.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock worth $130,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Trustcore Financial Services LLC purchased a new position in L Brands during the second quarter worth approximately $130,000. Hedge funds and other institutional investors own 71.65% of the company’s stock.

About L Brands

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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Analyst Recommendations for L Brands (NYSE:LB)

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