Analysts predict that L Brands Inc (NYSE:LB) will report $2.96 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for L Brands’ earnings, with the lowest sales estimate coming in at $2.88 billion and the highest estimate coming in at $3.00 billion. L Brands reported sales of $2.98 billion in the same quarter last year, which would suggest a negative year over year growth rate of 0.7%. The company is scheduled to report its next quarterly earnings results on Wednesday, August 28th.
According to Zacks, analysts expect that L Brands will report full year sales of $13.22 billion for the current fiscal year, with estimates ranging from $12.79 billion to $13.36 billion. For the next financial year, analysts forecast that the firm will post sales of $13.47 billion, with estimates ranging from $12.46 billion to $13.73 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for L Brands.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share for the quarter. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.56 billion. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share.
LB has been the subject of several recent research reports. Loop Capital dropped their price target on L Brands to $20.00 and set a “sell” rating for the company in a research report on Wednesday, May 15th. Odeon Capital Group initiated coverage on L Brands in a research report on Friday, April 26th. They issued a “buy” rating for the company. Bank of America set a $30.00 price target on L Brands and gave the stock a “hold” rating in a research report on Thursday, May 23rd. UBS Group lifted their price target on L Brands from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Finally, Zacks Investment Research upgraded Gerdau from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.96.
Several institutional investors have recently bought and sold shares of LB. American International Group Inc. raised its stake in shares of L Brands by 25.4% during the fourth quarter. American International Group Inc. now owns 12,224,858 shares of the specialty retailer’s stock valued at $313,812,000 after acquiring an additional 2,472,416 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of L Brands by 47.0% during the fourth quarter. Bank of New York Mellon Corp now owns 7,464,698 shares of the specialty retailer’s stock valued at $191,619,000 after acquiring an additional 2,385,201 shares in the last quarter. Norges Bank bought a new stake in shares of L Brands during the fourth quarter valued at approximately $60,190,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of L Brands during the first quarter valued at approximately $28,618,000. Finally, Menora Mivtachim Holdings LTD. bought a new stake in shares of L Brands during the first quarter valued at approximately $20,685,000. 69.08% of the stock is owned by hedge funds and other institutional investors.
LB traded down $0.45 on Thursday, hitting $25.33. The company had a trading volume of 262,860 shares, compared to its average volume of 4,716,538. The firm has a market cap of $7.54 billion, a P/E ratio of 9.01, a PEG ratio of 1.05 and a beta of 0.68. L Brands has a 12-month low of $21.44 and a 12-month high of $38.00. The company’s fifty day moving average is $24.30.
The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Thursday, May 30th. L Brands’s dividend payout ratio is presently 42.55%.
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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