Equities analysts forecast that L Brands Inc (NYSE:LB) will report $2.60 billion in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for L Brands’ earnings, with estimates ranging from $2.51 billion to $2.63 billion. L Brands posted sales of $2.44 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.6%. The firm is expected to announce its next quarterly earnings results on Wednesday, May 16th.
On average, analysts expect that L Brands will report full year sales of $2.60 billion for the current year, with estimates ranging from $12.44 billion to $13.38 billion. For the next financial year, analysts forecast that the firm will post sales of $13.54 billion per share, with estimates ranging from $12.50 billion to $13.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow L Brands.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 EPS for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.06. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.72 billion. L Brands had a negative return on equity of 96.25% and a net margin of 7.78%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $2.03 earnings per share.
L Brands (NYSE LB) opened at $42.15 on Tuesday. The company has a market capitalization of $11,928.53, a PE ratio of 12.25, a P/E/G ratio of 1.16 and a beta of 0.59. L Brands has a 52 week low of $35.00 and a 52 week high of $63.10. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10.
L Brands announced that its Board of Directors has approved a stock buyback program on Thursday, March 8th that permits the company to buyback $226.90 million in outstanding shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.40 annualized dividend and a yield of 5.69%. L Brands’s payout ratio is 69.77%.
A number of large investors have recently made changes to their positions in the stock. American International Group Inc. raised its holdings in L Brands by 74.8% during the fourth quarter. American International Group Inc. now owns 10,436,938 shares of the specialty retailer’s stock worth $628,512,000 after purchasing an additional 4,466,237 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in L Brands by 29.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock worth $172,952,000 after purchasing an additional 935,259 shares in the last quarter. Scharf Investments LLC raised its holdings in L Brands by 24.9% during the third quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock worth $161,248,000 after purchasing an additional 772,740 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in L Brands by 28.8% during the third quarter. Ameriprise Financial Inc. now owns 2,741,497 shares of the specialty retailer’s stock worth $114,036,000 after purchasing an additional 613,680 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in L Brands by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,638,420 shares of the specialty retailer’s stock worth $158,886,000 after purchasing an additional 40,263 shares in the last quarter. 81.05% of the stock is currently owned by hedge funds and other institutional investors.
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About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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