Bath & Body Works (NYSE:BBWI) Updates Q3 2024 Earnings Guidance

Bath & Body Works (NYSE:BBWI) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.410-0.470 for the period, compared to the consensus estimate of 0.470. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Bath & Body Works also updated its FY 2024 guidance to 3.060-3.260 EPS.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock opened at $31.94 on Friday. The company has a 50-day simple moving average of $30.92 and a two-hundred day simple moving average of $38.57. The stock has a market capitalization of $7.13 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 0.94 and a beta of 1.77. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. As a group, equities research analysts forecast that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued 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 (DPR) is presently 20.62%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BBWI. Piper Sandler dropped their price objective on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. JPMorgan Chase & Co. reduced their price target on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a report 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 report on Thursday, August 29th. Finally, Raymond James reduced their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bath & Body Works currently has an average rating of “Moderate Buy” and an average price target of $42.35.

Insiders Place Their Bets

In other news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

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.