L Brands (NYSE:LB) Price Target Raised to $20.00 at Wedbush

L Brands (NYSE:LB) had its price objective upped by Wedbush from $12.00 to $20.00 in a research report report published on Wednesday morning, The Fly reports. Wedbush also issued estimates for L Brands’ Q2 2021 earnings at ($0.64) EPS, Q3 2021 earnings at ($0.18) EPS, Q4 2021 earnings at $1.45 EPS, FY2021 earnings at ($0.37) EPS and FY2022 earnings at $1.75 EPS.

Several other research firms have also recently commented on LB. UBS Group cut their price target on L Brands from $14.00 to $12.75 and set a neutral rating for the company in a report on Tuesday, May 19th. ValuEngine raised L Brands from a sell rating to a hold rating in a report on Thursday, May 21st. Wells Fargo & Co increased their price target on L Brands from $25.00 to $28.00 and gave the company an overweight rating in a report on Friday, May 22nd. Royal Bank of Canada cut their price target on L Brands from $24.00 to $14.00 and set a sector perform rating for the company in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. raised L Brands from a neutral rating to an overweight rating and set a $32.00 price target for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $22.57.

Shares of LB stock traded down $0.13 on Wednesday, reaching $24.41. 5,620,433 shares of the company were exchanged, compared to its average volume of 6,501,089. The company has a market cap of $6.75 billion, a price-to-earnings ratio of -9.61, a P/E/G ratio of 19.70 and a beta of 1.22. The business has a 50-day moving average price of $16.60 and a 200 day moving average price of $16.87. L Brands has a 1 year low of $8.00 and a 1 year high of $26.66.

L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, May 20th. The specialty retailer reported ($0.99) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.28). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.75 billion. L Brands had a negative net margin of 5.89% and a negative return on equity of 23.32%. The firm’s revenue was down 37.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. Analysts anticipate that L Brands will post 0.1 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of L Brands by 23,800.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,801 shares of the specialty retailer’s stock valued at $553,000 after buying an additional 47,601 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of L Brands by 1.3% in the first quarter. Geode Capital Management LLC now owns 4,014,514 shares of the specialty retailer’s stock valued at $46,468,000 after buying an additional 50,599 shares in the last quarter. Maverick Capital Ltd. grew its stake in shares of L Brands by 58.7% in the first quarter. Maverick Capital Ltd. now owns 769,786 shares of the specialty retailer’s stock valued at $8,899,000 after buying an additional 284,654 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of L Brands by 17.6% in the first quarter. The Manufacturers Life Insurance Company now owns 256,936 shares of the specialty retailer’s stock valued at $2,970,000 after buying an additional 38,383 shares in the last quarter. Finally, United Capital Financial Advisers LLC grew its stake in shares of L Brands by 21.1% in the first quarter. United Capital Financial Advisers LLC now owns 51,135 shares of the specialty retailer’s stock valued at $591,000 after buying an additional 8,897 shares in the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.

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: Why do earnings reports matter?

The Fly

Analyst Recommendations 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.