NEW YORK (TheStreet) -- Shares of L Brands (LB) - Get Report  were down 5.11% to $68.50 on heavy trading volume after-hours Monday as the Columbus, OH-based company cut its 2016 fiscal third-quarter earnings forecast to about 40 cents per share, down from its prior range of 40 cents to 45 cents per share. 

Analysts surveyed by Fact Set are looking for adjusted earnings of 46 cents per share. 

The operator of Victoria's Secret and Bath & Body Works stores said it expects comparable-store sales to be up 1% in October, while analysts surveyed by FactSet are looking for an increase of 1.7%. 

L Brands sees Victoria's Secret posting a 2% decrease in comparable-store sales for the month, while Bath & Body Works is expected to post a 6% increase. 

The company will report its full 2016 third-quarter results after the market close on Nov. 16. 

More than 2.90 million of the company's shares changed hands so far today vs. its average 30-day volume of 1.72 million shares per day.

TheStreet Recommends

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

The team rates L Brands as a Hold with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and expanding profit margins. However, as a counter to these strengths, the team finds that the stock has had a generally disappointing performance in the past year.

You can view the full analysis from the report here: LB

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