L Brands (NYSE:LB) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

L Brands (NYSE:LB) announced its quarterly earnings results on Wednesday. The specialty retailer reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05, RTT News reports. L Brands had a net margin of 4.81% and a negative return on equity of 74.29%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year.

L Brands stock traded down $2.00 during mid-day trading on Thursday, reaching $18.33. The company’s stock had a trading volume of 6,731,740 shares, compared to its average volume of 4,281,551. L Brands has a 12-month low of $19.45 and a 12-month high of $38.00. The company has a market capitalization of $5.57 billion, a P/E ratio of 6.50, a PEG ratio of 0.77 and a beta of 0.69. The firm’s fifty day moving average price is $24.64 and its two-hundred day moving average price is $25.31.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be paid a $0.30 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 6.55%. L Brands’s dividend payout ratio is 42.55%.

LB has been the topic of several recent analyst reports. Loop Capital dropped their target price on shares of L Brands to $20.00 and set a “sell” rating on the stock in a research report on Wednesday, May 15th. Royal Bank of Canada set a $35.00 target price on shares of L Brands and gave the stock a “buy” rating in a research report on Friday, May 24th. Wedbush reissued a “neutral” rating on shares of L Brands in a research report on Monday. Zacks Investment Research cut shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a research report on Wednesday, July 31st. Finally, Bank of America set a $30.00 target price on shares of L Brands and gave the stock a “hold” rating in a research report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.17.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of L Brands by 5.1% during the 2nd quarter. BlackRock Inc. now owns 19,944,437 shares of the specialty retailer’s stock valued at $520,550,000 after purchasing an additional 970,548 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of L Brands by 0.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,029,483 shares of the specialty retailer’s stock worth $131,270,000 after acquiring an additional 13,038 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of L Brands by 31.2% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,962,678 shares of the specialty retailer’s stock worth $129,526,000 after acquiring an additional 1,180,198 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of L Brands by 117.5% during the 2nd quarter. Renaissance Technologies LLC now owns 4,401,433 shares of the specialty retailer’s stock worth $114,877,000 after acquiring an additional 2,377,700 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 worth $76,373,000 after acquiring an additional 95,224 shares during the last quarter. Hedge funds and other institutional investors own 71.65% 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.

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Earnings History for L Brands (NYSE:LB)

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