L Brands (NYSE:LB) Stock Price Down 5.7%

L Brands Inc (NYSE:LB) dropped 5.7% during mid-day trading on Thursday . The stock traded as low as $20.59 and last traded at $19.66, approximately 305,721 shares changed hands during mid-day trading. A decline of 92% from the average daily volume of 3,799,823 shares. The stock had previously closed at $20.85.

A number of equities analysts have recently commented on LB shares. Bank of America set a $30.00 price target on shares of L Brands and gave the stock a “hold” rating in a report on Thursday, May 23rd. Royal Bank of Canada set a $35.00 price target on shares of L Brands and gave the stock a “buy” rating in a report on Friday, May 24th. Citigroup lowered shares of L Brands from a “buy” rating to a “neutral” rating and increased their price target for the stock from $26.50 to $27.00 in a report on Monday, July 15th. Odeon Capital Group started coverage on shares of L Brands in a report on Friday, April 26th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research lowered shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 price target on the stock. in a report on Wednesday, July 31st. Three investment 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. L Brands has an average rating of “Hold” and an average target price of $31.17.

The company’s fifty day moving average is $25.35 and its 200 day moving average is $25.49. The company has a market cap of $6.07 billion, a P/E ratio of 6.98, a price-to-earnings-growth ratio of 0.83 and a beta of 0.69.

L Brands (NYSE:LB) last released its earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 EPS for the quarter. L Brands had a net margin of 4.81% and a negative return on equity of 74.29%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that L Brands Inc will post 2.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.09%. The ex-dividend date is Thursday, August 22nd. L Brands’s dividend payout ratio is currently 42.55%.

Several hedge funds have recently added to or reduced their stakes in LB. Municipal Employees Retirement System of Michigan bought a new stake in L Brands during the 4th quarter valued at $166,000. Dimensional Fund Advisors LP increased its position in shares of L Brands by 71.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 958,049 shares of the specialty retailer’s stock valued at $24,592,000 after purchasing an additional 399,317 shares during the period. Geode Capital Management LLC increased its position in shares of L Brands by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,977,260 shares of the specialty retailer’s stock valued at $76,373,000 after purchasing an additional 95,224 shares during the period. State of Alaska Department of Revenue increased its position in shares of L Brands by 13.1% during the 1st quarter. State of Alaska Department of Revenue now owns 53,694 shares of the specialty retailer’s stock valued at $1,480,000 after purchasing an additional 6,215 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of L Brands during the 1st quarter valued at $237,000. 68.41% of the stock is currently owned by institutional investors.

L Brands Company Profile (NYSE:LB)

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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