L Brands Inc (LB) was Upgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Underweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Nov 28, 2016.
Many Wall Street Analysts have commented on L Brands Inc. L Brands Inc was Upgraded by Citigroup to ” Buy” on Nov 14, 2016. L Brands Inc was Downgraded by Jefferies to ” Underperform” on Nov 7, 2016. Shares were Downgraded by Mizuho on Nov 1, 2016 to ” Neutral” and Lowered the Price Target to $ 70 from a previous price target of $85 .
On the company’s financial health, L Brands Inc reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 16, 2016. Analyst had a consensus of $0.40. The company had revenue of $2580.98 million for the quarter, compared to analysts expectations of $2563.82 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.
L Brands Inc closed down -0.27 points or -0.37% at $71.81 with 14,97,120 shares getting traded on Friday. Post opening the session at $72.47, the shares hit an intraday low of $71.34 and an intraday high of $72.81 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Sep 1, 2016, Charles Mcguigan (Chief Operating Officer) sold 23,687 shares at $76.37 per share price. According to the SEC, on Aug 25, 2016, Martin P Waters (Pres, L Brands International) sold 45,500 shares at $77.49 per share price. On Jul 12, 2016, Nicholas Coe (CEO-Bath and Body Works) sold 4,951 shares at $67.53 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.