L Brands (NYSE:LB) Hits New 12-Month Low at $15.80

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L Brands Inc (NYSE:LB) reached a new 52-week low during trading on Wednesday . The company traded as low as $15.80 and last traded at $16.18, with a volume of 10899300 shares changing hands. The stock had previously closed at $17.18.

LB has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of L Brands from $34.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. DA Davidson set a $20.00 price target on shares of L Brands and gave the stock a “hold” rating in a research note on Friday, August 23rd. Telsey Advisory Group cut 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. Credit Suisse Group lowered shares of L Brands from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $22.00 to $14.00 in a research note on Friday, October 18th. Finally, Robert W. Baird cut their price target on shares of L Brands from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $23.09.

The stock’s 50 day moving average is $17.59 and its two-hundred day moving average is $21.26. The stock has a market capitalization of $4.75 billion, a PE ratio of 6.22, a price-to-earnings-growth ratio of 0.63 and a beta of 0.77.

L Brands (NYSE:LB) last released its earnings results on Wednesday, November 20th. The specialty retailer reported $0.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.02. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, analysts forecast that L Brands Inc will post 2.37 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.85%. L Brands’s payout ratio is 42.55%.

Hedge funds have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. purchased a new stake in shares of L Brands during the second quarter worth approximately $32,000. NuWave Investment Management LLC increased its stake in shares of L Brands by 757.8% during the third quarter. NuWave Investment Management LLC now owns 1,913 shares of the specialty retailer’s stock worth $32,000 after buying an additional 1,690 shares during the period. Strategic Blueprint LLC purchased a new stake in shares of L Brands during the third quarter worth approximately $33,000. Phocas Financial Corp. purchased a new position in L Brands in the second quarter valued at approximately $41,000. Finally, Tower Research Capital LLC TRC increased its stake in L Brands by 827.2% in the third quarter. Tower Research Capital LLC TRC now owns 4,469 shares of the specialty retailer’s stock valued at $87,000 after purchasing an additional 3,987 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

About L Brands (NYSE:LB)

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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