Bath & Body Works (NYSE:BBWI) Announces Earnings Results

Bath & Body Works (NYSE:BBWI) announced its quarterly earnings data on Thursday. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.13, MarketWatch Earnings reports. Bath & Body Works had a negative return on equity of 32.64% and a net margin of 9.90%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company posted $0.40 EPS. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Bath & Body Works updated its FY 2023 guidance to $2.90-$3.10 EPS and its Q4 guidance to $1.70-1.90 EPS.

Bath & Body Works Stock Down 2.5 %

Shares of NYSE BBWI opened at $29.36 on Friday. The business’s 50 day moving average is $32.00 and its two-hundred day moving average is $35.23. The company has a market cap of $6.68 billion, a P/E ratio of 9.20, a P/E/G ratio of 1.04 and a beta of 1.84. Bath & Body Works has a 12 month low of $27.30 and a 12 month high of $49.55.

Bath & Body Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, November 16th. Bath & Body Works’s dividend payout ratio is currently 25.08%.

Analysts Set New Price Targets

A number of brokerages have commented on BBWI. Jefferies Financial Group lowered Bath & Body Works from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $45.00 to $30.00 in a research report on Thursday, October 26th. Barclays upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $41.00 to $45.00 in a research report on Tuesday, August 1st. UBS Group raised their price objective on Bath & Body Works from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 24th. Telsey Advisory Group cut their price target on Bath & Body Works from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded Bath & Body Works from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $41.00 to $27.00 in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.73.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Money Concepts Capital Corp increased its position in Bath & Body Works by 1,180.4% in the 4th quarter. Money Concepts Capital Corp now owns 653 shares of the company’s stock worth $28,000 after buying an additional 602 shares during the period. Front Row Advisors LLC bought a new position in Bath & Body Works in the 3rd quarter worth approximately $25,000. Harvest Fund Management Co. Ltd bought a new position in Bath & Body Works in the 2nd quarter worth approximately $36,000. Desjardins Global Asset Management Inc. acquired a new stake in shares of Bath & Body Works during the 1st quarter worth approximately $36,000. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Bath & Body Works by 55.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,065 shares of the company’s stock worth $40,000 after purchasing an additional 380 shares in the last quarter. 94.31% of the stock is owned by institutional investors.

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.