Bath & Body Works (NYSE:BBWI) Updates Q3 2024 Earnings Guidance

Bath & Body Works (NYSE:BBWI) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.480-0.480 for the period, compared to the consensus earnings per share estimate of 0.530. 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 Analyst Weigh In

A number of research firms recently commented on BBWI. Robert W. Baird reduced their target price on Bath & Body Works from $54.00 to $45.00 and set an outperform rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their target price on Bath & Body Works from $48.00 to $40.00 and set an equal weight rating on the stock in a research note on Wednesday, July 24th. Citigroup reduced their target price on Bath & Body Works from $48.00 to $35.00 and set a neutral rating on the stock in a research note on Tuesday, August 20th. JPMorgan Chase & Co. cut their price target on shares of Bath & Body Works from $42.00 to $39.00 and set a neutral rating for the company in a research report on Thursday. Finally, Bank of America cut their price target on shares of Bath & Body Works from $54.00 to $45.00 and set a buy rating for the company in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $42.50.

Bath & Body Works Price Performance

BBWI opened at $30.76 on Friday. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.16 and a beta of 1.85. Bath & Body Works has a one year low of $27.30 and a one year high of $52.99. The business has a 50 day simple moving average of $35.46 and a two-hundred day simple moving average of $42.59.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 earnings per share. As a group, sell-side analysts expect that Bath & Body Works will post 3.29 EPS for the current fiscal year.

Bath & Body Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, August 23rd. Bath & Body Works’s payout ratio is 20.62%.

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.