Victoria’s Secret & Co. (NYSE:VSCO) Updates Q1 2024 Earnings Guidance

Victoria’s Secret & Co. (NYSE:VSCO) updated its first quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.070-0.120 for the period, compared to the consensus earnings per share estimate of -0.030. The company issued revenue guidance of $1.4 billion-$1.4 billion, compared to the consensus revenue estimate of $1.3 billion. Victoria’s Secret & Co. also updated its FY 2024 guidance to EPS.

Analyst Ratings Changes

Several research analysts have recently commented on VSCO shares. Wells Fargo & Company reduced their price target on Victoria’s Secret & Co. from $32.00 to $25.00 and set an overweight rating on the stock in a report on Thursday, March 7th. The Goldman Sachs Group started coverage on Victoria’s Secret & Co. in a report on Thursday, April 25th. They set a sell rating and a $14.00 price target on the stock. Bank of America reissued an underperform rating and set a $15.00 price objective (down from $34.00) on shares of Victoria’s Secret & Co. in a research report on Friday, March 8th. Morgan Stanley downgraded Victoria’s Secret & Co. from an equal weight rating to an underweight rating and cut their price objective for the stock from $19.00 to $15.00 in a research report on Monday. Finally, Barclays downgraded Victoria’s Secret & Co. from an equal weight rating to an underweight rating and cut their price objective for the stock from $15.00 to $14.00 in a research report on Wednesday. Six investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $19.82.

Victoria’s Secret & Co. Stock Performance

Shares of VSCO stock traded up $0.57 during trading hours on Thursday, hitting $18.61. The stock had a trading volume of 1,782,790 shares, compared to its average volume of 2,689,971. The firm has a market capitalization of $1.44 billion, a PE ratio of 13.68, a PEG ratio of 1.11 and a beta of 2.05. Victoria’s Secret & Co. has a twelve month low of $13.62 and a twelve month high of $30.80. The stock’s 50 day moving average is $18.91 and its 200 day moving average is $22.62. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.95 and a quick ratio of 0.34.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.12. Victoria’s Secret & Co. had a return on equity of 56.40% and a net margin of 1.77%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.09 billion. As a group, research analysts forecast that Victoria’s Secret & Co. will post 1.67 earnings per share for the current fiscal year.

About Victoria’s Secret & Co.

Victoria's Secret & Co operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. It offers bras, panties, lingerie, casual sleepwear, and athleisure and swim, as well as fragrances and body care; and loungewear, knit tops, activewear, and accessories and beauty under the Victoria's Secret, PINK, and Adore Me brands.