L Brands Inc (NYSE:LB) Expected to Post Quarterly Sales of $2.96 Billion
Wall Street brokerages expect that L Brands Inc (NYSE:LB) will report $2.96 billion in sales for the current quarter, Zacks reports. Nine analysts have issued estimates for L Brands’ earnings. The lowest sales estimate is $2.88 billion and the highest is $2.99 billion. L Brands reported sales of $2.98 billion in the same quarter last year, which indicates a negative year over year growth rate of 0.7%. The business is expected to report its next earnings report after the market closes on Wednesday, August 21st.
According to Zacks, analysts expect that L Brands will report full year sales of $13.22 billion for the current year, with estimates ranging from $12.79 billion to $13.36 billion. For the next financial year, analysts forecast that the business will post sales of $13.47 billion, with estimates ranging from $12.46 billion to $13.73 billion. Zacks’ sales averages are an average based on a survey of analysts that follow L Brands.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share for the quarter. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.56 billion. L Brands had a net margin of 4.81% and a negative return on equity of 74.29%. L Brands’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS.
Several institutional investors have recently added to or reduced their stakes in LB. Dupont Capital Management Corp increased its stake in shares of L Brands by 104.9% during the second quarter. Dupont Capital Management Corp now owns 8,061 shares of the specialty retailer’s stock worth $210,000 after acquiring an additional 4,126 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of L Brands during the second quarter worth about $7,320,000. ARP Americas LP acquired a new position in shares of L Brands during the second quarter worth about $214,000. LeJeune Puetz Investment Counsel LLC increased its stake in shares of L Brands by 41.7% during the second quarter. LeJeune Puetz Investment Counsel LLC now owns 35,600 shares of the specialty retailer’s stock worth $929,000 after acquiring an additional 10,475 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of L Brands by 15.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 936,819 shares of the specialty retailer’s stock worth $24,451,000 after acquiring an additional 125,667 shares during the period. 68.72% of the stock is owned by institutional investors and hedge funds.
L Brands stock traded down $0.41 during midday trading on Friday, reaching $25.75. The company had a trading volume of 2,939,500 shares, compared to its average volume of 4,641,801. The company has a market capitalization of $7.03 billion, a P/E ratio of 9.13, a P/E/G ratio of 1.00 and a beta of 0.68. L Brands has a 12-month low of $21.44 and a 12-month high of $38.00. The business has a fifty day moving average of $25.33.
L Brands Company Profile
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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