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 EPS guidance of 0.410-0.470 for the period, compared to the consensus EPS 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 Trading Down 0.2 %

Shares of NYSE:BBWI opened at $31.94 on Friday. The business has a fifty day simple moving average of $30.92 and a 200 day simple moving average of $38.57. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 0.94 and a beta of 1.77.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.54 billion. On average, sell-side analysts forecast that Bath & Body Works will post 3.18 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, August 23rd. Bath & Body Works’s payout ratio is presently 20.62%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and set a $42.00 target price on shares of Bath & Body Works in a research report on Thursday, September 26th. Wells Fargo & Company cut their target price on shares of Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Barclays dropped their price objective on shares of Bath & Body Works from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Robert W. Baird dropped their target price on shares of 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. Finally, UBS Group decreased their price target on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Bath & Body Works has a consensus rating of “Moderate Buy” and an average target price of $42.35.

Insiders Place Their Bets

In other Bath & Body Works news, CEO Gina Boswell bought 6,000 shares of Bath & Body Works stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the acquisition, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.