L Brands Inc reiterated as Mkt Perform By FBR & Co
- Author: Zachary Reyes Feb 23, 2017,
Feb 23, 2017, 22:09
The firm now has a "market perform" rating on the stock. This number excludes 14 cents from non-recurring items. FBR & Co reiterated a "market perform" rating and set a $69.00 target price (down previously from $75.00) on shares of L Brands in a report on Tuesday, December 6th. Wolfe Research lowered their target price on L Brands from $67.00 to $62.00 and set a "peer perform" rating on the stock in a report on Friday, January 6th.
L Brands, Inc. (NYSE:LB) had its target price decreased by Jefferies Group LLC to $40.00 in a research report issued on Thursday. The average stock price target is $70.43 with 4 brokerages rating the stock a strong buy, 7 brokerages rating the stock a buy, 22 brokerages rating the stock a hold, 1 brokerage rating the stock a underperform, and finally 0 brokerages rating the stock a sell. 18,670,678 shares of the stock traded hands. The company's 50-day moving average is $60.04 and its 200-day moving average is $68.80.
At time of writing this, the stock plunged 16.4 percent.
The exit lowered the company's total comparable sales for the fourth quarter by 2 percentage points, L Brands said on Wednesday. The company reported $2.03 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.13.
Full-year operating income was 2.003 billion dollars compared to 2.192 billion dollars last year, and net income was 1.158 billion dollars compared to 1.253 billion dollars last year. In the last month the stock has moved in price -4.61%, with a one year change of -28.97%.
LB said that fourth quarter comparable sales ("comps") were flat from past year. Analysts anticipate that L Brands will post $3.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 3rd. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 4.13%. L Brands's payout ratio is 60.61%. Currently, LB is a #5 (Strong Sell) on the Zacks Rank, and is down 12% to $51.07 per share in trading shortly after its earnings report was released. If you are viewing this news story on another site, it was illegally stolen and republished in violation of global copyright laws. The correct version of this piece of content can be accessed at https://www.com-unik.info/2017/02/23/jefferies-group-llc-trims-l-brands-inc-lb-target-price-to-40-00.html.
Want to see what other hedge funds are holding LB? Stephens Inc. AR now owns 9,242 shares of the company's stock worth $654,000 after buying an additional 33 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of L Brands by 0.4% in the fourth quarter. The institutional investor owned 5,100 shares of the company's stock after selling 20,400 shares during the period. Baird Financial Group Inc. now owns 3,177 shares of the company's stock worth $209,000 after buying an additional 34 shares during the period.