In the latest trading session, L Brands (LB) closed at $66.45, marking a -1.38% move from the previous day. This move lagged the S&P 500's daily gain of 0.18%.Heading into today, shares of the owner of Victoria's Secret, Bath & Body Works and other chain stores had gained 13.38% over the past month, outpacing the Retail-Wholesale sector's gain of 0.73% and the S&P 500's gain of 6.99% in that time.LB will be looking to display strength as it nears its next earnings release, which is expected to be May 19, 2021. On that day, LB is projected to report earnings of $0.98 per share, which would represent year-over-year growth of 198.99%. Our most recent consensus estimate is calling for quarterly revenue of $2.9 billion, up 75.34% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.89 per share and revenue of $13.73 billion. These totals would mark changes of +41.33% and +15.87%, respectively, from last year.Investors might also notice recent changes to analyst estimates for LB. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 11.44% higher. LB is currently a Zacks Rank #1 (Strong Buy).Investors should also note LB's current valuation metrics, including its Forward P/E ratio of 13.78. Its industry sports an average Forward P/E of 21.93, so we one might conclude that LB is trading at a discount comparatively.Also, we should mention that LB has a PEG ratio of 1.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Retail - Apparel and Shoes industry currently had an average PEG ratio of 2.47 as of yesterday's close.The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report L Brands, Inc. (LB): Free Stock Analysis Report To read this article on Zacks.com click here.