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

Bath & Body Works (NYSE:BBWI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.060-3.260 for the period, compared to the consensus EPS 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 Stock Performance

Shares of BBWI opened at $32.45 on Thursday. The company’s fifty day moving average is $30.91 and its 200 day moving average is $38.74. Bath & Body Works has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The stock has a market capitalization of $7.24 billion, a PE ratio of 8.36, a P/E/G ratio of 0.94 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share 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 company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, research analysts forecast that Bath & Body Works will post 3.18 earnings per share for the current 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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a 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%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BBWI. The Goldman Sachs Group cut their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research 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 report on Thursday, August 29th. Wells Fargo & Company cut their price objective on shares of Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Robert W. Baird cut their price objective on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and an average target price of $42.35.

Insider Buying and Selling

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was bought at an average cost 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 in the company, valued at $7,202,134.68. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by 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.