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

Bath & Body Works (NYSE:BBWI) updated its third quarter 2024 earnings guidance on Thursday. 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 Trading Down 1.4 %

NYSE:BBWI opened at $32.00 on Friday. The company’s 50 day moving average is $30.91 and its two-hundred day moving average is $38.69. The company has a market cap of $7.14 billion, a PE ratio of 8.25, a P/E/G ratio of 0.94 and a beta of 1.77. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $1.53 billion for 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, analysts expect that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, August 26th. UBS Group cut their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Evercore ISI decreased their target price on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, August 28th. Citigroup reduced their price objective on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Finally, Raymond James dropped their target price on 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 research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.35.

Insider Buying and Selling

In other news, CEO Gina Boswell bought 6,000 shares of Bath & Body Works stock in a transaction 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 acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by insiders.

Bath & Body Works Company Profile

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.