Citigroup Lowers L Brands (NYSE:LB) to Neutral

Citigroup cut shares of L Brands (NYSE:LB) from a buy rating to a neutral rating in a research note released on Monday morning, 24/7 WallStreet reports. They currently have $27.00 target price on the specialty retailer’s stock, up from their prior target price of $26.50.

Several other equities research analysts also recently issued reports on LB. Odeon Capital Group started coverage on shares of L Brands in a research note on Friday, April 26th. They issued a buy rating for the company. Wells Fargo & Co raised their target price on shares of Iovance Biotherapeutics from $23.00 to $32.00 and gave the company an outperform rating in a research report on Thursday, May 23rd. UBS Group lifted their price target on shares of L Brands from $26.00 to $28.00 and gave the stock a neutral rating in a report on Wednesday, April 10th. Royal Bank of Canada reiterated a buy rating on shares of PrairieSky Royalty in a report on Friday, May 24th. Finally, Loop Capital dropped their target price on shares of L Brands to $20.00 and set a sell rating on the stock in a report on Wednesday, May 15th. 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’s stock. The stock has a consensus rating of Hold and a consensus target price of $31.33.

NYSE LB opened at $26.39 on Monday. The firm’s 50 day moving average is $24.59. The firm has a market capitalization of $7.27 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68. L Brands has a 1-year low of $21.44 and a 1-year high of $38.00.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. As a group, equities analysts predict that L Brands will post 2.4 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. increased its holdings in shares of L Brands by 236.8% in the first quarter. Marshall Wace North America L.P. now owns 133,024 shares of the specialty retailer’s stock valued at $3,669,000 after purchasing an additional 93,522 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in shares of L Brands by 245.1% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 195,300 shares of the specialty retailer’s stock valued at $5,013,000 after buying an additional 138,702 shares in the last quarter. Exane Derivatives grew its stake in L Brands by 11.5% during the 1st quarter. Exane Derivatives now owns 139,415 shares of the specialty retailer’s stock valued at $3,844,000 after purchasing an additional 14,350 shares in the last quarter. CSat Investment Advisory L.P. lifted its holdings in shares of L Brands by 31.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 42,531 shares of the specialty retailer’s stock worth $1,092,000 after purchasing an additional 10,271 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in L Brands by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 349,550 shares of the specialty retailer’s stock valued at $8,973,000 after acquiring an additional 1,011 shares in the last quarter. Hedge funds and other institutional investors own 69.05% of the company’s stock.

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.

Further Reading: Cost of Debt

Analyst Recommendations for L Brands (NYSE:LB)

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