L Brands Inc (LB) was Downgraded by UBS to ” Neutral” while Lowering the Price Target of the company shares to $ 74 from a previous price target of $101 . Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on May 9, 2016.
Many Wall Street Analysts have commented on L Brands Inc. Shares were Reiterated by MKM Partners on May 6, 2016 to “Buy” and Lowered the Price Target to $ 83 from a previous price target of $105 .Shares were Reiterated by Telsey Advisory Group on May 6, 2016 to “Outperform” and Lowered the Price Target to $ 95 from a previous price target of $115 .L Brands Inc was Downgraded by Piper Jaffray to ” Underweight” on May 5, 2016.
On the company’s financial health, L Brands Inc reported $2.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Feb 24, 2016. Analyst had a consensus of $2.05. The company had revenue of $4395.00 million for the quarter, compared to analysts expectations of $4374.97 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS.
L Brands Inc closed down -0.94 points or -1.33% at $69.59 with 61,68,425 shares getting traded on Friday. Post opening the session at $70.63, the shares hit an intraday low of $69 and an intraday high of $70.63 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Dec 30, 2015, Raymond Zimmerman (director) sold 1,500 shares at $96.26 per share price. According to the SEC, on Nov 5, 2015, Sharen J Turney (CEO/P VS Megabrand Int App Grp) sold 80,000 shares at $100.15 per share price. On Jul 10, 2015, Nicholas Coe (CEO-Bath and Body Works) sold 5,000 shares at $83.79 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.