L Brands (NYSE:LB) Issues Earnings Results

L Brands (NYSE:LB) posted its quarterly earnings data on Wednesday. The specialty retailer reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05, RTT News reports. L Brands had a net margin of 4.37% and a negative return on equity of 72.98%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm posted $0.36 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year.

LB stock opened at $17.53 on Friday. L Brands has a fifty-two week low of $17.50 and a fifty-two week high of $38.00. The firm’s 50-day simple moving average is $24.28 and its 200 day simple moving average is $25.22. The stock has a market cap of $5.60 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 0.77 and a beta of 0.69.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.85%. L Brands’s dividend payout ratio (DPR) is presently 42.55%.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of L Brands by 5.1% in the 2nd quarter. BlackRock Inc. now owns 19,944,437 shares of the specialty retailer’s stock worth $520,550,000 after acquiring an additional 970,548 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of L Brands by 0.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,029,483 shares of the specialty retailer’s stock worth $131,270,000 after acquiring an additional 13,038 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of L Brands by 31.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,962,678 shares of the specialty retailer’s stock worth $129,526,000 after acquiring an additional 1,180,198 shares during the period. Renaissance Technologies LLC increased its holdings in shares of L Brands by 117.5% in the 2nd quarter. Renaissance Technologies LLC now owns 4,401,433 shares of the specialty retailer’s stock worth $114,877,000 after acquiring an additional 2,377,700 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of L Brands by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 2,977,260 shares of the specialty retailer’s stock worth $76,373,000 after acquiring an additional 95,224 shares during the period. 71.65% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have commented on the stock. Royal Bank of Canada downgraded shares of L Brands from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $30.00 to $22.00 in a research note on Friday. Telsey Advisory Group reduced their price target on shares of L Brands from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Friday. Bank of America set a $30.00 price target on shares of L Brands and gave the stock a “hold” rating in a research report on Thursday, May 23rd. Zacks Investment Research downgraded shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 price target on the stock. in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $21.00 price target (down from $30.00) on shares of L Brands in a research report on Friday. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $28.09.

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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Earnings History for L Brands (NYSE:LB)

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