Bath & Body Works (NYSE:BBWI) Updates Q2 2023 Earnings Guidance

Posted by Anthony Miller on May 26th, 2023

Bath & Body Works (NYSE:BBWI – Get Rating) updated its second quarter 2023 earnings guidance on Friday. The company provided earnings per share guidance of $0.27-$0.32 for the period, compared to the consensus earnings per share estimate of $0.32. The company issued revenue guidance of -. Bath & Body Works also updated its FY 2023 guidance to $2.68-$3.08 EPS.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBWI. Cowen boosted their price objective on shares of Bath & Body Works from $45.00 to $52.00 and gave the company an outperform rating in a research report on Thursday, February 16th. 51job reissued a maintains rating on shares of Bath & Body Works in a research note on Monday. Telsey Advisory Group reissued an outperform rating and set a $52.00 target price on shares of Bath & Body Works in a research note on Thursday, February 23rd. Piper Sandler lowered shares of Bath & Body Works from an overweight rating to a neutral rating and reduced their target price for the company from $48.00 to $37.00 in a research note on Thursday, April 20th. Finally, Barclays boosted their target price on shares of Bath & Body Works from $37.00 to $41.00 in a research note on Sunday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Bath & Body Works currently has a consensus rating of Hold and an average price target of $46.45.

Bath & Body Works Stock Up 0.2 %

NYSE BBWI traded up $0.09 during midday trading on Friday, hitting $36.73. The company had a trading volume of 1,036,683 shares, compared to its average volume of 3,289,288. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 0.99 and a beta of 1.70. The firm has a fifty day simple moving average of $35.39 and a two-hundred day simple moving average of $39.53. Bath & Body Works has a fifty-two week low of $25.75 and a fifty-two week high of $49.55.

Bath & Body Works (NYSE:BBWI – Get Rating) last posted its quarterly earnings results on Thursday, May 18th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Bath & Body Works had a net margin of 9.67% and a negative return on equity of 29.65%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. As a group, equities analysts predict that Bath & Body Works will post 2.98 earnings per share for the current year.

Bath & Body Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be given a $0.20 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.80 annualized dividend and a yield of 2.18%. Bath & Body Works’s dividend payout ratio is 25.32%.

Insider Transactions at Bath & Body Works

In other news, CFO Wendy C. Arlin sold 1,625 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $38.29, for a total transaction of $62,221.25. Following the completion of the transaction, the chief financial officer now directly owns 91,072 shares of the company’s stock, valued at approximately $3,487,146.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Bath & Body Works

Institutional investors have recently modified their holdings of the business. Cetera Advisor Networks LLC bought a new position in Bath & Body Works in the fourth quarter valued at approximately $230,000. Arrow Investment Advisors LLC bought a new position in Bath & Body Works in the first quarter valued at approximately $228,000. Steward Partners Investment Advisory LLC lifted its stake in Bath & Body Works by 15.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,362 shares of the company’s stock valued at $226,000 after buying an additional 700 shares in the last quarter. Federated Hermes Inc. lifted its stake in Bath & Body Works by 81.3% in the first quarter. Federated Hermes Inc. now owns 4,521 shares of the company’s stock valued at $217,000 after buying an additional 2,028 shares in the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in Bath & Body Works in the fourth quarter valued at approximately $216,000. Institutional investors and hedge funds own 96.34% of the company’s stock.

About Bath & Body Works

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Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.