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

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

Bath & Body Works Stock Performance

Shares of BBWI opened at $32.05 on Thursday. Bath & Body Works has a 52 week low of $27.30 and a 52 week high of $52.99. The firm has a market capitalization of $7.15 billion, a P/E ratio of 8.32, a P/E/G ratio of 1.16 and a beta of 1.85. The company has a 50-day simple moving average of $35.91 and a 200-day simple moving average of $42.77.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. As a group, equities analysts forecast that Bath & Body Works will post 3.29 earnings per share for the current year.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.50%. The ex-dividend date is Friday, August 23rd. Bath & Body Works’s dividend payout ratio (DPR) is presently 20.62%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BBWI. Citigroup decreased their target price on shares of Bath & Body Works from $48.00 to $35.00 and set a neutral rating on the stock in a research report on Tuesday, August 20th. UBS Group decreased their price objective on Bath & Body Works from $52.00 to $38.00 and set a neutral rating on the stock in a report on Thursday. BMO Capital Markets increased their target price on Bath & Body Works from $50.00 to $55.00 and gave the stock an outperform rating in a report on Wednesday, June 5th. Evercore ISI decreased their price target on Bath & Body Works from $45.00 to $35.00 and set an in-line rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. upgraded Bath & Body Works from an underweight rating to a neutral rating and increased their price objective for the stock from $40.00 to $53.00 in a research note on Friday, May 17th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Bath & Body Works has a consensus rating of Moderate Buy and an average target price of $44.06.

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.