L Brands Inc (NYSE:LB) Expected to Announce Quarterly Sales of $4.67 Billion

Wall Street analysts forecast that L Brands Inc (NYSE:LB) will post $4.67 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for L Brands’ earnings, with estimates ranging from $4.63 billion to $4.82 billion. L Brands reported sales of $4.85 billion during the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The firm is expected to issue its next earnings report after the market closes on Wednesday, February 26th.

On average, analysts expect that L Brands will report full year sales of $12.88 billion for the current year, with estimates ranging from $12.84 billion to $13.03 billion. For the next fiscal year, analysts forecast that the business will report sales of $12.99 billion, with estimates ranging from $12.48 billion to $13.63 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover L Brands.

L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, November 20th. The specialty retailer reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. L Brands had a negative return on equity of 72.15% and a net margin of 2.80%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the business posted $0.16 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis.

Several research analysts have recently commented on the company. UBS Group lowered their price target on L Brands from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Jefferies Financial Group upgraded L Brands to a “sell” rating and set a $14.00 price target for the company in a research report on Friday, January 3rd. MKM Partners decreased their target price on L Brands to $17.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Telsey Advisory Group decreased their target price on L Brands from $22.00 to $19.00 and set a “market perform” rating for the company in a report on Friday, November 22nd. Finally, Deutsche Bank upgraded L Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $22.00 to $24.00 in a report on Friday, January 10th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $22.58.

Shares of LB traded up $0.38 during midday trading on Friday, hitting $20.56. 4,140,440 shares of the stock were exchanged, compared to its average volume of 7,476,179. L Brands has a 52-week low of $15.80 and a 52-week high of $29.02. The stock has a fifty day simple moving average of $18.89 and a 200 day simple moving average of $19.48. The firm has a market cap of $5.58 billion, a P/E ratio of 15.69, a P/E/G ratio of 0.81 and a beta of 0.79.

Several institutional investors and hedge funds have recently bought and sold shares of LB. Nuveen Asset Management LLC acquired a new stake in shares of L Brands during the second quarter worth about $57,287,000. State Street Corp increased its position in shares of L Brands by 9.0% during the third quarter. State Street Corp now owns 11,928,770 shares of the specialty retailer’s stock worth $233,685,000 after purchasing an additional 983,063 shares in the last quarter. BlackRock Inc. increased its position in shares of L Brands by 5.1% during the second quarter. BlackRock Inc. now owns 19,944,437 shares of the specialty retailer’s stock worth $520,550,000 after purchasing an additional 970,548 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in L Brands in the 4th quarter valued at about $12,030,000. Finally, Maverick Capital Ltd. acquired a new position in L Brands in the 3rd quarter valued at about $10,236,000. Institutional investors and hedge funds own 71.02% 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.

Read More: What is a back-end load?

Get a free copy of the Zacks research report on L Brands (LB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for L Brands (NYSE:LB)

Receive News & Ratings for L Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands and related companies with MarketBeat.com's FREE daily email newsletter.