Westpac Banking Corp. (WBK, Financial), Invesco Ltd. (IVZ, Financial), British American Tobacco PLC (BTI, Financial) and L Brands Inc. (LB, Financial) have declined to three-year lows.
Westpac Banking declined to $20.11
The price of Westpac Banking shares declined to $20.11 on Aug. 24, which is only 1.4% above the three-year low of $19.83.
Westpac is a bank and financial services provider that is one of Australia’s “big four” banks. As of March, the company has approximately 14 million customers and employs 40,000 people.
The bank has a market cap of $68.25 billion; its shares traded around $20.11 with a price-earnings ratio of 11.71 and a price-sales ratio of 4.60. The trailing 12-month dividend yield is 7.10%. The forward dividend yield is 6.81%.
On Aug. 16, the bank announced Chief Information Officer Dave Curran has decided to retire at the end of January 2019. Craig Bright will succeed him.. Curran has led the company’s technology function since 2014 and has been crucial in resetting and reshaping the company’s digital transformation.
Invesco declined to $24.14
The price of Invesco shares declined to $24.14 on Aug. 24, which is only 4.6% above the three-year low of $23.02.
Invesco is an independent investment management company that operates under the Invesco, Trimark, WL Ross and Powershares brand names.
The company has a market cap of $9.92 billion; its shares were traded around $24.14 with a price-earnings ratio of 8.47 and a price-sales ratio of 1.79. The trailing 12-month dividend yield is 4.89%. The forward dividend yield is 4.94%. Invesco had an annual average earnings growth of 8.40% over the past decade.
On Aug. 20, Invesco announced it is reducing fees on three exchange-traded funds, effective immediately. The fee reductions include the Invesco Dow Jones Industrial Average Dividend management fee, which will be lowered from 0.30% to 0.07%, and the Invesco S&P 500 Quality ETF management fee, which will be lowered from 0.38% to 0.15%.
British American Tobacco declined to $50.28
The price of British American Tobacco PLC (BTI, Financial) shares declined to $50.28 on Aug. 24, which is only 4.5% above the three-year low of $48.
British American is the largest publicly traded tobacco company in the world. The company has a market-leading position in over 50 countries and operations in 180 countries. Some of its largest selling brands are Dunhill, Lucky Strike, Kent and Pall Mall.
The company has a market cap of $117.07 billion; its shares were traded around $50.28 with a price-earnings ratio of 2.17 and a price-sales ratio of 3.97. The trailing 12-month dividend yield is 3.86%. The forward dividend yield is 5.23%. British American Tobacco had an annual average earnings growth of 13.90% over the last 10 years.
On June 11, British American announced it will invest 800 million euros ($930.6 million) in its factory in PloieÈ™ti, Romania over the next five years. The investment will generate 200 new jobs and support the expansion of the company’s tobacco heating product, glo, in countries across Europe during the second half of 2018.
L Brands declined to $27.62
The price of L Brands shares declined to $27.62 on Aug. 24, which is only 0.5% above the three-year low of $27.49.
L Brands is an American fashion retailer that specializes in clothing and fashion accessories. The company’s flagship brands include Victoria’s Secret and Bath & Body Works. It also owns the Henri Bendel and La Senza brands and has distribution rights for C. O. Bigelow and The White Barn Candle Company.
The company has a market cap of $7.66 billion; its shares were traded around $27.62 with a price-earnings ratio of 8.49 and a price-sales ratio of 0.62. The trailing 12-month dividend yield is 8.69%. The forward dividend yield is 8.50%. The company had an annual average earnings growth of 11.90% over the past decade.
On Aug. 22, L Brands reported second-quarter results. Earnings per share for the quarter were 36 cents, compared to 48 cents in the prior-year quarter. Operating income for the quarter was $228.1 million. Net income was $99 million.
Disclosure: I do not own stock in any of the companies mentioned in the article.
