L Brands, Inc.
), which formerly traded under ticker name 'LTD' , reached a new
52-week high of $66.16 on Nov 29, 2013, gaining momentum from
impressive third-quarter fiscal 2013 results. This specialty
retailer of women's apparel, beauty and personal care eventually
closed at $64.99 on the last trading day, amassing a year-to-date
return of roughly 40.2%. Average volume of shares traded over the
last 3 months stands at approximately 1,944.8K.
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The company currently trades at a forward P/E of 20.4x, a 21.07%
premium to the peer group average of 16.85x. The last traded
price is 5.2% above the Zacks Consensus average analyst price
target of $61.80.
Investors are optimistic about this Zacks Rank #3 (Hold) stock as
its earnings per share of 31 cents surpassed the Zacks Consensus
Estimate of 28 cents, and rose 19% year over year, backed by
improved consumer spending. L Brands reported net sales of
$2,171.1 million that rose 6% on a year-over-year basis, beating
the Zacks Consensus Estimate of $2,165 million.
With an impressive record of beating the quarterly earnings
expectations, L Brands envisions earnings in the range of $1.67
to $1.82 for the fourth quarter and between $3.07 and $3.22 per
share for fiscal 2013, reflecting the company's positive outlook.
This Ohio-based company's Bath & Body Works segment is
gaining traction, driven by a rise in store transactions,
enhancement in the direct channel business and growth in new
stores. Its Victoria's Secret Stores have also been performing
well, and the company is revamping its La Senza brand alongside.
Moreover, L Brands is keen on augmenting its retail footprint
internationally by expanding aggressively in Canada and other
international markets, which is likely to enhance the company's
Apart from L Brands, retail stocks such as
Newell Rubbermaid Inc.
Tiffany & Co.
) achieved new 52-week highs of $30.54, $89.72 and $237.18,
respectively on Nov 29, 2013.