L Brands Inc (LB) reported quarterly earnings results on Wednesday, May-18-2016. The company said it had a profit of $0.59 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.55. The company posted revenue of $2613.80 million in the period, 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.
Many Wall Street Analysts have commented on L Brands Inc. Shares were Downgraded by UBS on May 9, 2016 to ” Neutral” and Lowered the Price Target to $ 74 from a previous price target of $101 .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 closed down -0.37 points or -0.55% at $66.37 with 45,09,416 shares getting traded on Monday. Post opening the session at $66.6, the shares hit an intraday low of $66.37 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 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.