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

Bath & Body Works (NYSE:BBWI) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.150-3.280 for the period, compared to the consensus earnings per share estimate of 3.200. The company issued revenue guidance of $7.2 billion-$7.3 billion, compared to the consensus revenue estimate of $7.2 billion.

Analyst Upgrades and Downgrades

BBWI has been the subject of several analyst reports. Barclays raised their price objective on shares of Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, November 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a report on Monday, November 25th. Robert W. Baird reduced their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. TD Cowen increased their price objective on Bath & Body Works from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. raised their target price on Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

Bath & Body Works Stock Performance

Bath & Body Works stock traded down $0.09 during mid-day trading on Friday, hitting $36.69. 1,141,952 shares of the company traded hands, compared to its average volume of 3,993,351. The stock has a fifty day moving average price of $31.72 and a 200-day moving average price of $35.24. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.38 and a beta of 1.83. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS. Sell-side analysts predict that Bath & Body Works will post 3.26 EPS for the current year.

Bath & Body Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, November 22nd. Bath & Body Works’s payout ratio is currently 19.51%.

Insiders Place Their Bets

In related news, CEO Gina Boswell bought 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the purchase, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 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.