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 guidance of 0.410-0.470 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NYSE:BBWI opened at $32.45 on Thursday. The firm has a market capitalization of $7.24 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 0.94 and a beta of 1.77. The firm’s 50-day moving average is $30.91 and its two-hundred day moving average is $38.74. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company 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%. Analysts expect that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s dividend payout ratio is presently 20.62%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BBWI. Bank of America lowered their price objective on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Piper Sandler lowered their price target on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Citigroup lowered their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lowered their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, Morgan Stanley lowered their price target on Bath & Body Works from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.35.

Insider Transactions at Bath & Body Works

In related news, CEO Gina Boswell purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, for a total transaction 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 trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

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.