Jefferies Financial Group Analysts Reduce Earnings Estimates for Victoria’s Secret & Co. (NYSE:VSCO)

Victoria’s Secret & Co. (NYSE:VSCOGet Rating) – Jefferies Financial Group reduced their Q3 2023 earnings estimates for Victoria’s Secret & Co. in a research note issued on Wednesday, June 1st. Jefferies Financial Group analyst C. Tarlowe now expects that the company will earn $1.25 per share for the quarter, down from their previous forecast of $1.41. Jefferies Financial Group also issued estimates for Victoria’s Secret & Co.’s Q4 2023 earnings at $3.76 EPS, FY2023 earnings at $7.33 EPS, Q1 2024 earnings at $1.00 EPS, Q2 2024 earnings at $1.32 EPS, Q3 2024 earnings at $1.35 EPS, Q4 2024 earnings at $4.07 EPS and FY2024 earnings at $7.73 EPS.

Victoria’s Secret & Co. (NYSE:VSCOGet Rating) last posted its quarterly earnings data on Tuesday, May 31st. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.27. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. Victoria’s Secret & Co. had a net margin of 8.24% and a return on equity of 122.62%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year.

VSCO has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Victoria’s Secret & Co. from $71.00 to $57.00 in a report on Wednesday. B. Riley decreased their price objective on shares of Victoria’s Secret & Co. from $77.00 to $63.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley cut their target price on shares of Victoria’s Secret & Co. from $54.00 to $51.00 and set an “equal weight” rating for the company in a research note on Thursday. Barclays dropped their price target on Victoria’s Secret & Co. from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets reduced their price target on shares of Victoria’s Secret & Co. from $80.00 to $72.00 in a research report on Thursday, March 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Victoria’s Secret & Co. presently has a consensus rating of “Buy” and a consensus target price of $67.00.

Shares of VSCO stock opened at $44.49 on Friday. The company has a market cap of $3.68 billion and a P/E ratio of 7.23. The business has a 50 day moving average of $47.76 and a two-hundred day moving average of $51.66. The company has a quick ratio of 0.44, a current ratio of 1.00 and a debt-to-equity ratio of 3.81. Victoria’s Secret & Co. has a 52 week low of $38.48 and a 52 week high of $76.00.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lone Pine Capital LLC acquired a new stake in shares of Victoria’s Secret & Co. in the 3rd quarter valued at $475,763,000. Windacre Partnership LLC acquired a new stake in Victoria’s Secret & Co. in the third quarter worth about $341,977,000. Candlestick Capital Management LP bought a new stake in Victoria’s Secret & Co. during the 3rd quarter worth about $222,779,000. Palestra Capital Management LLC acquired a new position in Victoria’s Secret & Co. during the 3rd quarter valued at about $104,673,000. Finally, Sound Shore Management Inc. CT bought a new position in shares of Victoria’s Secret & Co. in the 1st quarter valued at about $89,991,000. 99.23% of the stock is owned by institutional investors.

In related news, CEO Amy Hauk sold 2,657 shares of the firm’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $50.64, for a total transaction of $134,550.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anne Sheehan sold 5,060 shares of the business’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $51.61, for a total value of $261,146.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,020 shares of company stock worth $3,891,262. Company insiders own 0.95% of the company’s stock.

Victoria’s Secret & Co. Company Profile (Get Rating)

Victoria's Secret & Co operates as a specialty retailer of women's intimate, personal care, and beauty products worldwide. The company offers bras, panties, lingerie, sleepwear, loungewear, and athletic attire and swimwear, as well as fragrances and body care products, and accessories under the Victoria's Secret and PINK brands.

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Earnings History and Estimates for Victoria's Secret & Co. (NYSE:VSCO)

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