Bath & Body Works (NYSE:BBWI) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Bath & Body Works (NYSE:BBWI) posted its earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.13, MarketWatch Earnings reports. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. Bath & Body Works had a net margin of 9.90% and a negative return on equity of 32.64%. Bath & Body Works’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 EPS. 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 BBWI opened at $29.36 on Friday. The stock has a market capitalization of $6.68 billion, a P/E ratio of 9.20, a PEG ratio of 1.04 and a beta of 1.84. The firm has a fifty day simple moving average of $32.00 and a two-hundred day simple moving average of $35.23. Bath & Body Works has a twelve month low of $27.30 and a twelve month high of $49.55.

Bath & Body Works Dividend Announcement

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

Institutional Investors Weigh In On Bath & Body Works

Several institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co raised its holdings in Bath & Body Works by 46.1% in the 3rd quarter. Diversified Trust Co now owns 23,228 shares of the company’s stock worth $785,000 after purchasing an additional 7,332 shares in the last quarter. OLD National Bancorp IN raised its holdings in Bath & Body Works by 5.2% in the 3rd quarter. OLD National Bancorp IN now owns 321,614 shares of the company’s stock worth $10,871,000 after purchasing an additional 15,830 shares in the last quarter. Morgan Stanley raised its holdings in Bath & Body Works by 6.2% in the 3rd quarter. Morgan Stanley now owns 2,977,521 shares of the company’s stock worth $100,640,000 after purchasing an additional 172,512 shares in the last quarter. Front Row Advisors LLC bought a new position in Bath & Body Works in the 3rd quarter worth $25,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Bath & Body Works by 4.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 50,999 shares of the company’s stock worth $1,724,000 after purchasing an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 94.31% of the company’s stock.

Wall Street Analyst Weigh In

BBWI has been the topic of a number of analyst reports. Barclays raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $45.00 in a report on Tuesday, August 1st. Telsey Advisory Group decreased their target price on shares of Bath & Body Works from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered shares of Bath & Body Works from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $41.00 to $27.00 in a report on Tuesday, October 24th. Citigroup increased their price target on shares of Bath & Body Works from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 16th. Finally, Jefferies Financial Group lowered shares of Bath & Body Works from a “buy” rating to a “hold” rating and decreased their price target for the stock from $45.00 to $30.00 in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.73.

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.