Analysts Expect L Brands Inc (NYSE:LB) Will Announce Quarterly Sales of $2.24 Billion

Equities research analysts expect L Brands Inc (NYSE:LB) to report $2.24 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for L Brands’ earnings. The lowest sales estimate is $2.06 billion and the highest is $2.63 billion. L Brands posted sales of $2.90 billion during the same quarter last year, which would indicate a negative year over year growth rate of 22.8%. The business is expected to announce its next earnings results on Wednesday, August 19th.

According to Zacks, analysts expect that L Brands will report full year sales of $11.04 billion for the current year, with estimates ranging from $9.54 billion to $11.58 billion. For the next fiscal year, analysts expect that the firm will post sales of $12.30 billion, with estimates ranging from $10.19 billion to $13.05 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for L Brands.

L Brands (NYSE:LB) last issued its earnings results on Wednesday, May 20th. The specialty retailer reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.28). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.75 billion. L Brands had a negative net margin of 5.89% and a negative return on equity of 26.37%. The firm’s revenue for the quarter was down 37.1% compared to the same quarter last year. During the same period last year, the business posted $0.14 EPS.

LB has been the subject of a number of analyst reports. BMO Capital Markets raised L Brands from a “market perform” rating to an “outperform” rating and set a $17.00 price target for the company in a research note on Tuesday, May 5th. Jefferies Financial Group reiterated a “sell” rating and issued a $8.00 target price on shares of L Brands in a report on Monday, March 30th. Deutsche Bank lowered their target price on L Brands from $24.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Telsey Advisory Group increased their price target on L Brands from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, May 22nd. Finally, Wells Fargo & Co increased their price target on L Brands from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. L Brands presently has an average rating of “Hold” and a consensus price target of $18.95.

Several large investors have recently modified their holdings of the stock. Lone Pine Capital LLC purchased a new stake in L Brands in the 1st quarter worth approximately $303,624,000. Prudential PLC acquired a new position in L Brands in the 1st quarter valued at $48,964,000. Norges Bank acquired a new stake in L Brands in the 4th quarter worth $46,414,000. Contrarius Investment Management Ltd boosted its position in shares of L Brands by 205.3% during the 4th quarter. Contrarius Investment Management Ltd now owns 3,440,909 shares of the specialty retailer’s stock valued at $62,349,000 after acquiring an additional 2,313,900 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of L Brands by 1,874.2% during the 4th quarter. Point72 Asset Management L.P. now owns 1,787,251 shares of the specialty retailer’s stock valued at $32,385,000 after acquiring an additional 1,696,719 shares in the last quarter. Institutional investors and hedge funds own 77.38% of the company’s stock.

Shares of NYSE:LB traded up $0.52 during midday trading on Wednesday, hitting $17.20. The stock had a trading volume of 10,451,664 shares, compared to its average volume of 10,756,214. The business’s 50-day simple moving average is $12.60 and its 200-day simple moving average is $17.30. L Brands has a 12 month low of $8.00 and a 12 month high of $28.01. The company has a market cap of $4.66 billion, a P/E ratio of -6.77, a PEG ratio of 1.85 and a beta of 1.09.

About L Brands

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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Earnings History and Estimates for L Brands (NYSE:LB)

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