L Brands Inc (NYSE:LB) – Equities researchers at KeyCorp increased their Q2 2021 earnings per share estimates for L Brands in a research report issued on Tuesday, July 28th. KeyCorp analyst E. Yruma now anticipates that the specialty retailer will post earnings of ($0.50) per share for the quarter, up from their prior estimate of ($0.63). KeyCorp has a “Overweight” rating and a $28.00 price objective on the stock. KeyCorp also issued estimates for L Brands’ Q3 2021 earnings at ($0.21) EPS, FY2021 earnings at $0.13 EPS and FY2022 earnings at $2.37 EPS.
Several other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. upgraded L Brands from a “neutral” rating to an “overweight” rating and set a $32.00 price target for the company in a research note on Wednesday. Citigroup cut L Brands from a “neutral” rating to a “sell” rating and boosted their price target for the company from $15.00 to $17.00 in a research note on Thursday. Wedbush boosted their price target on L Brands from $12.00 to $20.00 in a research note on Wednesday. MKM Partners upped their target price on L Brands from $11.00 to $22.00 in a research note on Wednesday. Finally, TheStreet cut L Brands from a “c-” rating to a “d” rating in a research note on Monday, June 22nd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. L Brands presently has a consensus rating of “Hold” and a consensus price target of $22.57.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, May 20th. The specialty retailer reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.28). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.75 billion. L Brands had a negative return on equity of 23.32% and a negative net margin of 5.89%. The company’s revenue was down 37.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of LB. Stifel Financial Corp increased its holdings in L Brands by 62.8% in the fourth quarter. Stifel Financial Corp now owns 17,904 shares of the specialty retailer’s stock valued at $326,000 after purchasing an additional 6,907 shares during the period. Janus Henderson Group PLC increased its holdings in L Brands by 94.0% in the fourth quarter. Janus Henderson Group PLC now owns 937,905 shares of the specialty retailer’s stock valued at $16,995,000 after purchasing an additional 454,531 shares during the period. Alliancebernstein L.P. increased its holdings in L Brands by 34.8% in the fourth quarter. Alliancebernstein L.P. now owns 953,653 shares of the specialty retailer’s stock valued at $17,280,000 after purchasing an additional 246,122 shares during the period. Geode Capital Management LLC grew its holdings in L Brands by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 3,963,915 shares of the specialty retailer’s stock worth $72,070,000 after acquiring an additional 175,659 shares during the period. Finally, Macquarie Group Ltd. raised its position in shares of L Brands by 195.1% in the 4th quarter. Macquarie Group Ltd. now owns 12,100 shares of the specialty retailer’s stock worth $219,000 after acquiring an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 77.28% 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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