Bath & Body Works (NYSE:BBWI) Releases 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays cut their price target on shares of Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut their target price on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Robert W. Baird lowered their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Evercore ISI reduced their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 28th. Finally, Citigroup lowered their price objective on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.35.

Bath & Body Works Stock Up 4.3 %

NYSE BBWI opened at $32.45 on Thursday. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 8.36, a PEG 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. The stock has a fifty day simple moving average of $30.91 and a 200 day simple moving average of $38.74.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Research analysts expect that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Bath & Body Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.80 annualized dividend and a yield of 2.47%. Bath & Body Works’s payout ratio is 20.62%.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell acquired 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

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.