Bath & Body Works (NYSE:BBWI) Releases FY 2024 Earnings Guidance

Bath & Body Works (NYSE:BBWI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.060-3.260 for the period, compared to the consensus estimate of 3.190. The company issued revenue guidance of $7.1 billion-$7.3 billion, compared to the consensus revenue estimate of $7.3 billion. Bath & Body Works also updated its Q3 2024 guidance to 0.410-0.470 EPS.

Bath & Body Works Trading Down 1.4 %

NYSE:BBWI opened at $32.00 on Friday. The stock has a 50-day moving average price of $30.91 and a 200 day moving average price of $38.69. The stock has a market capitalization of $7.14 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.94 and a beta of 1.77. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, research analysts predict that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.80 annualized dividend and a yield of 2.50%. Bath & Body Works’s dividend payout ratio is currently 20.62%.

Analyst Upgrades and Downgrades

Several research analysts have commented on BBWI shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Bath & Body Works in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Barclays reduced their price objective on shares of Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. UBS Group dropped their target price on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Wells Fargo & Company cut their target price on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bath & Body Works currently has an average rating of “Moderate Buy” and an average target price of $42.35.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell purchased 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.

About Bath & Body Works

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.