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Principale » L Brands stock falls after weak outlook

L Brands stock falls after weak outlook

17 Août 2017

Shares of L Brands Inc. The firm presently has a "buy" rating on the specialty retailer's stock.

A number of analysts have recently issued reports on the company. The company updated its guidance for full-year 2017 per-share earnings to between $3 and $3.20, from a previous guidance of $3.10 a share to $3.40 a share, and guided third-quarter per-share earnings to between 25 cents a share and 30 cents a share. Royal Bank Of Canada reissued a "hold" rating and issued a $55.00 target price on shares of L Brands in a research report on Monday, July 24th. Instinet reiterated a "neutral" rating and issued a $48.00 price objective (down from $52.00) on shares of L Brands in a report on Sunday, April 9th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the stock. The average twelve-month price objective among brokers that have issued a report on the stock in the past year is $45.88. Aperio Group LLC increased its position in L Brands by 39.6% in the second quarter. The company's stock had a trading volume of 8,011,955 shares. The stock has a market cap of $11.34 billion, a PE ratio of 10.42 and a beta of 0.62. L Brands has a one year low of $39.00 and a one year high of $79.67. The stock has a 50 day moving average price of $45.42 and a 200-day moving average price of $50.12. L Brands also was the recipient of unusually large options trading activity on Monday. Stock traders acquired 7,919 put options on the stock. This is an increase of 320% compared to the typical volume of 1,885 put options.

L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 16th. Accern also assigned news articles about the specialty retailer an impact score of 46.5986646991919 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company's share price in the immediate future. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.46 billion. L Brands said the exit negatively affected its comparable sales by 6 percentage points and Victoria's Secret's comparable sales by 9 percentage points. The business's revenue for the quarter was down 4.7% on a year-over-year basis. Comparable store sales (comps) fell 8% in the latest period, which the company warned about earlier this month. On average, analysts expect that L Brands, Inc. will post $3.23 earnings per share for the current fiscal year. "(LB)" was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this report on another site, it was illegally copied and republished in violation of U.S. and worldwide trademark and copyright laws. The legal version of this news story can be viewed at https://www.themarketsdaily.com/2017/08/16/jefferies-group-llc-analysts-give-l-brands-inc-nyselb-a-32-00-price-target-updated-updated-updated.html.

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In related news, CEO Nicholas Coe sold 39,839 shares of the firm's stock in a transaction on Friday, May 19th. The shares were sold at an average price of $48.88, for a total value of $1,947,330.32. Following the sale, the chief executive officer now owns 75,658 shares of the company's stock, valued at $3,698,163.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 16.45% of the company's stock.

Several hedge funds and other institutional investors have recently modified their holdings of LB. First Personal Financial Services now owns 1,954 shares of the specialty retailer's stock worth $105,000 after buying an additional 1,096 shares during the last quarter. Douglas Lane & Associates LLC increased its position in L Brands by 60.7% in the second quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer's stock valued at $885,383,000 after buying an additional 2,600,605 shares during the last quarter.

L Brands stock falls after weak outlook