L Brands' same-store sales flat, lowers 2017 outlook

Francis Osborne
February 27, 2017

L Brands, Inc. (NYSE:LB) - Equities research analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for shares of L Brands in a research note issued on Thursday. Jefferies Group now has a "Underperform" rating and a $40.00 price target on the stock. According to this price target, it now means the analyst believes there is a potential increase of 6.08% from the company's current share price of 49.02.

LB has been the subject of a number of other reports. Mizuho decreased their price target on L Brands from $62.00 to $51.00 and set a neutral rating for the company in a report on Friday. Finally, Oppenheimer Holdings, Inc. set a $75.00 price target on shares of L Brands and gave the company a "buy" rating in a research note on Wednesday, February 8th. L Brands, Inc. The stock gained a consensus recommendation of 2.57 on Zacks Investment Research where the scale runs from 1 to 5, 1 representing Strong buy and 5 showing Strong Sell. RBC Capital Markets reiterated a "sector perform" rating and issued a $70.00 target price (down previously from $82.00) on shares of L Brands in a research report on Wednesday, November 2nd. FBR & Co dropped their price target on shares of L Brands to $69.00 in a research note on Thursday, November 17th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. MKM Partners set a $68.00 price target on L Brands and gave the stock a hold rating in a report on Sunday, November 6th.

L Brands (NYSE:LB) traded up 4.19% during midday trading on Friday, hitting $50.99. 10,707,282 shares of the stock traded hands.

The 52 week high of L Brands Inc's shares is 88.77 whilst the 52 week low for shares in the company is 47.93.

L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, February 22nd. The firm earned $4.49 billion during the quarter, compared to analysts' expectations of $4.51 billion. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.51 billion. The firm's revenue for the quarter was up 2.1% compared to the same quarter previous year.

The apparel retailer's earnings call started off well as it reported earnings of $2.03 per share, excluding certain items for the company's fiscal fourth quarter of 2016.

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The business also recently declared a quarterly dividend, which will be paid on Friday, March 3rd. Stockholders of record on Monday, November 21st were paid a $0.30 dividend. The ex-dividend date is Wednesday, February 15th. Meanwhile, L Brands expects a mid-single digit decline at Bath & Body Works.

"Wedbush Reiterates "Neutral" Rating for L Brands, Inc". (NYSE:LB) in a report published on Sunday morning. If you are viewing this report on another site, it was stolen and reposted in violation of USA & global trademark & copyright law. The original version of this news story can be viewed at https://baseballnewssource.com/markets/l-brands-lb-neutral-rating-reaffirmed-at-wedbush/463288.html.

Several hedge funds and other institutional investors have recently made changes to their positions in the company.

L Brands, Inc. Gross Margin percentage stands at 41.5% while its Operating Margin for trailing twelve month is 16.8 percent and Profit margin (ttm) is 9.3 Percent. Azimuth Capital Management LLC now owns 3,100 shares of the company's stock valued at $204,000 after buying an additional 100 shares during the last quarter. Three Peaks Capital Management LLC boosted its position in shares of L Brands by 3.3% in the third quarter. BlackRock Japan Co. Ltd now owns 319,303 shares of the company's stock valued at $22,597,000 after buying an additional 3,310 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of L Brands by 10.1% in the fourth quarter. First Trust Advisors LP now owns 193,893 shares of the company's stock valued at $13,722,000 after buying an additional 36,666 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in shares of L Brands during the fourth quarter valued at $201,000. Institutional investors and hedge funds own 97.51% of the company's stock.

L Brands' comparable sales were especially strong over the period, despite the company's decision to stop selling its swim and apparel business that carries the Victoria's Secret brand with it.

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