L Brands (LB) Given New $37.00 Price Target at Citigroup

L Brands (NYSE:LB) had its price target decreased by Citigroup from $38.00 to $37.00 in a report released on Friday morning. Citigroup currently has a buy rating on the specialty retailer’s stock.

A number of other equities analysts also recently commented on LB. Royal Bank of Canada cut their price objective on L Brands to $44.00 and set a buy rating on the stock in a report on Thursday, April 26th. Barclays restated a hold rating and issued a $40.00 price objective on shares of L Brands in a report on Monday, April 30th. ValuEngine downgraded L Brands from a sell rating to a strong sell rating in a report on Wednesday, May 2nd. Loop Capital downgraded L Brands from a hold rating to a sell rating and set a $28.00 price objective on the stock. in a report on Thursday, May 10th. Finally, Jefferies Financial Group cut their price objective on L Brands from $30.00 to $23.00 and set an underperform rating on the stock in a report on Thursday, May 10th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $37.59.

L Brands stock opened at $27.64 on Friday. The stock has a market capitalization of $7.66 billion, a PE ratio of 8.59, a PEG ratio of 0.95 and a beta of 0.58. The company has a current ratio of 1.56, a quick ratio of 0.83 and a debt-to-equity ratio of -5.90. L Brands has a 12 month low of $27.30 and a 12 month high of $63.10.

L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, August 22nd. The specialty retailer reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.92 billion. L Brands had a negative return on equity of 88.04% and a net margin of 6.87%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. equities analysts forecast that L Brands will post 2.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 24th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $2.40 annualized dividend and a dividend yield of 8.68%. L Brands’s payout ratio is currently 75.00%.

Several large investors have recently made changes to their positions in LB. Global X Management Co. LLC increased its holdings in L Brands by 8.7% during the 1st quarter. Global X Management Co. LLC now owns 19,662 shares of the specialty retailer’s stock worth $751,000 after purchasing an additional 1,577 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in L Brands by 23.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,231 shares of the specialty retailer’s stock worth $304,000 after purchasing an additional 1,578 shares during the last quarter. Kovack Advisors Inc. increased its holdings in L Brands by 15.7% during the 2nd quarter. Kovack Advisors Inc. now owns 11,836 shares of the specialty retailer’s stock worth $437,000 after purchasing an additional 1,604 shares during the last quarter. IBM Retirement Fund increased its holdings in L Brands by 46.8% during the 1st quarter. IBM Retirement Fund now owns 5,279 shares of the specialty retailer’s stock worth $202,000 after purchasing an additional 1,684 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in L Brands by 3.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 46,021 shares of the specialty retailer’s stock worth $1,758,000 after purchasing an additional 1,717 shares during the last quarter. Institutional investors and hedge funds own 72.64% 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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