L Brands Inc (LB) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 28, 2016.
Many Wall Street Analysts have commented on L Brands Inc. Shares were Reiterated by Wolfe Research on May 20, 2016 to “Peer Perform” and Lowered the Price Target to $ 62 from a previous price target of $70 .Shares were Reiterated by FBR Capital on May 20, 2016 to “Mkt Perform” and Lowered the Price Target to $ 63 from a previous price target of $93 .Shares were Reiterated by Telsey Advisory Group on May 20, 2016 to “Outperform” and Lowered the Price Target to $ 88 from a previous price target of $95 .
On the company’s financial health, L Brands Inc reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.55. The company had revenue of $2613.80 million for the quarter, compared to analysts expectations of $2669.41 million. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.
L Brands Inc closed down -2.22 points or -3.29% at $65.26 with 25,81,670 shares getting traded on Monday. Post opening the session at $67.01, the shares hit an intraday low of $64.6103 and an intraday high of $67.24 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 24, 2016, Allan R Tessler (director) purchased 3,500 shares at $67.92 per share price. According to the SEC, on May 27, 2016, Nicholas Coe (CEO-Bath and Body Works) sold 28,444 shares at $64.59 per share price. On Dec 30, 2015, Raymond Zimmerman (director) sold 1,500 shares at $96.26 per share price, according to the Form-4 filing with the securities and exchange commission.
L Brands Inc. operates specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel beauty and personal care products and accessories. It operates in three segments: Victoria’s Secret which includes Victoria’s Secret PINK which is the specialty retailer of women’s intimate and other apparel with fashion-inspired collections prestige fragrances celebrated supermodels and world-famous runway shows; Bath & Body Works which is the specialty retailer of home fragrance and personal care products including shower gels lotions soaps and sanitizers and Victoria’s Secret and Bath & Body Works International which includes the Victoria’s Secret and Bath & Body Works company-owned and partner-operated stores outside of the United States and Canada. It sells its merchandise through company-owned specialty retail stores in the United States Canada and the United Kingdom which are primarily mall-based and through its Websites and other channels.