L Brands Inc (NYSE:LB) Short Interest Update

L Brands Inc (NYSE:LB) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 21,580,000 shares, a growth of 8.0% from the August 30th total of 19,980,000 shares. Based on an average daily trading volume, of 5,600,000 shares, the short-interest ratio is presently 3.9 days. Approximately 9.4% of the shares of the stock are sold short.

Shares of LB stock traded up $0.22 on Thursday, reaching $18.03. 190,011 shares of the company’s stock traded hands, compared to its average volume of 4,972,527. L Brands has a 12-month low of $15.82 and a 12-month high of $38.00. The company has a market capitalization of $5.01 billion, a P/E ratio of 6.39, a price-to-earnings-growth ratio of 0.63 and a beta of 0.81. The business’s 50 day moving average price is $17.95 and its two-hundred day moving average price is $22.81.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. L Brands had a negative return on equity of 74.73% and a net margin of 4.37%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. L Brands’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts expect that L Brands will post 2.4 EPS for the current year.

The firm also recently declared a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, September 30th. L Brands’s dividend payout ratio is 42.55%.

LB has been the topic of a number of recent analyst reports. ValuEngine raised L Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group set a $14.00 target price on L Brands and gave the stock a “sell” rating in a research report on Monday, September 23rd. Guggenheim reaffirmed a “hold” rating on shares of L Brands in a research report on Tuesday, September 10th. DA Davidson set a $20.00 target price on L Brands and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Goldman Sachs Group set a $26.00 target price on L Brands and gave the stock a “buy” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. L Brands has a consensus rating of “Hold” and a consensus price target of $26.33.

Hedge funds have recently modified their holdings of the company. First Mercantile Trust Co. purchased a new position in L Brands in the second quarter valued at about $32,000. NuWave Investment Management LLC grew its stake in L Brands by 757.8% in the third quarter. NuWave Investment Management LLC now owns 1,913 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 1,690 shares in the last quarter. Strategic Blueprint LLC purchased a new position in L Brands in the third quarter valued at about $33,000. Phocas Financial Corp. purchased a new position in L Brands in the second quarter valued at about $41,000. Finally, Trustcore Financial Services LLC purchased a new position in L Brands in the second quarter valued at about $130,000. Institutional investors and hedge funds own 69.84% of the company’s stock.

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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