Here comes L Brands, the owner of Victoria's Secret...

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Here comes L Brands, the owner of Victoria's Secret...

Victoria's Secret Shop The Show Event

Dimitrios Kambouris/Getty Images

Josephine Skriver, Elsa Hosk and Jasmine Tookes attend as VS Angels celebrate the Victoria’s Secret Fashion Show airing December 2 (10/9c) on the ABC Television Network at the new VIP Runway Experience located in the NYC Fifth Avenue flagship store on November 29, 2018 in New York City.

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  • L Brands is set to report fourth-quarter earnings after Wednesday's closing bell.
  • Analysts are expecting adjusted earnings of $2.08 a share on $4.92 billion revenue.
  • Watch L Brands trade live.

L Brands, the owner of Victoria's Secret, is set to report fourth-quarter earnings after Wednesday's closing bell.

Here is what analysts surveyed by Bloomberg are expecting:

  • Adjusted earnings per share: $2.08
  • Revenue: $4.92 billion

Earlier this month, L Brands reported that total comparable sales (including stores and direct) at its flagship brand, Victoria's Secret, declined 1% in January, driven by an 8% drop in store-only comps. That was below the Wall Street consensus of a 1% increase, according to UBS.

The company also announced that its quarterly dividend will be $0.30 a share in the first quarter, less than half of the $0.61 paid last quarter.

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"The brands are not wanted anymore," Jefferies analyst Randal Konik, a long-term bear on Victoria's Secret and L Brands, said in February.

"Keep in mind that comps remain negative despite very high promos, which means true brand demand is even worse than reported as some consumers buy things when they are given away for free or marked down by more than 50-75%."

Konik has an "underperform" rating and $21 price target for L Brands - 24% below where shares were trading Wednesday.

L Brands was up 5% this year.

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