L Brands (NYSE:LB) Upgraded by Credit Suisse Group to “Neutral”

Credit Suisse Group upgraded shares of L Brands (NYSE:LB) from an underperform rating to a neutral rating in a research report report published on Tuesday, Benzinga reports. The firm currently has $24.00 target price on the specialty retailer’s stock.

A number of other equities research analysts also recently issued reports on the stock. B. Riley reaffirmed a buy rating and set a $30.00 price target on shares of L Brands in a research note on Thursday, November 21st. BMO Capital Markets began coverage on shares of L Brands in a research note on Monday, February 3rd. They set a market perform rating and a $23.00 price target on the stock. Zacks Investment Research downgraded shares of L Brands from a hold rating to a strong sell rating and set a $17.00 price target on the stock. in a research note on Wednesday, January 15th. Telsey Advisory Group decreased their price target on shares of L Brands from $22.00 to $19.00 and set a market perform rating on the stock in a research note on Friday, November 22nd. Finally, UBS Group decreased their price target on shares of L Brands from $19.00 to $18.00 and set a neutral rating on the stock in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $21.67.

L Brands stock opened at $24.34 on Tuesday. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.98 and a beta of 0.76. The firm’s fifty day moving average is $20.86 and its 200 day moving average is $19.25. L Brands has a 52-week low of $15.80 and a 52-week high of $29.02.

L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, November 20th. The specialty retailer reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.69 billion. L Brands had a net margin of 2.80% and a negative return on equity of 72.15%. L Brands’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, sell-side analysts anticipate that L Brands will post 2.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 21st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.93%. The ex-dividend date is Thursday, February 20th. L Brands’s dividend payout ratio is currently 42.55%.

Several institutional investors and hedge funds have recently made changes to their positions in LB. BlackRock Inc. increased its stake in L Brands by 5.1% in the 2nd quarter. BlackRock Inc. now owns 19,944,437 shares of the specialty retailer’s stock valued at $520,550,000 after buying an additional 970,548 shares during the last quarter. Pacer Advisors Inc. increased its stake in L Brands by 10.8% in the 3rd quarter. Pacer Advisors Inc. now owns 23,920 shares of the specialty retailer’s stock valued at $469,000 after buying an additional 2,340 shares during the last quarter. NuWave Investment Management LLC increased its stake in L Brands by 757.8% in the 3rd quarter. NuWave Investment Management LLC now owns 1,913 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 1,690 shares during the last quarter. Exane Derivatives increased its stake in L Brands by 43.3% in the 3rd quarter. Exane Derivatives now owns 204,901 shares of the specialty retailer’s stock valued at $4,013,000 after buying an additional 61,959 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its stake in L Brands by 43.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 46,021 shares of the specialty retailer’s stock valued at $902,000 after buying an additional 14,010 shares during the last quarter. 71.42% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for L Brands (NYSE:LB)

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