Bath & Body Works (NYSE:BBWI) Posts 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. Bath & Body Works had a net margin of 9.90% and a negative return on equity of 32.64%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The firm’s 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 Performance

Bath & Body Works stock opened at $29.36 on Friday. The firm’s fifty day moving average price is $32.00 and its 200-day moving average price is $35.23. Bath & Body Works has a fifty-two week low of $27.30 and a fifty-two week high of $49.55. The stock has a market cap of $6.68 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 1.04 and a beta of 1.84.

Bath & Body Works Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on BBWI shares. JPMorgan Chase & Co. lowered shares of Bath & Body Works from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $41.00 to $27.00 in a research note on Tuesday, October 24th. Jefferies Financial Group downgraded shares of Bath & Body Works from a “buy” rating to a “hold” rating and reduced their target price for the company from $45.00 to $30.00 in a research report on Thursday, October 26th. Telsey Advisory Group cut their price objective on shares of Bath & Body Works from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Friday. Barclays raised shares of 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 report on Tuesday, August 1st. Finally, Raymond James cut their price objective on shares of Bath & Body Works from $48.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Bath & Body Works has a consensus rating of “Hold” and an average price target of $41.73.

Institutional Investors Weigh In On Bath & Body Works

Several institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its holdings in Bath & Body Works by 4.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,897 shares of the company’s stock valued at $221,000 after acquiring an additional 271 shares during the period. Captrust Financial Advisors boosted its holdings in Bath & Body Works by 10.4% during the 1st quarter. Captrust Financial Advisors now owns 3,124 shares of the company’s stock valued at $149,000 after acquiring an additional 295 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Bath & Body Works by 1.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 27,031 shares of the company’s stock valued at $1,014,000 after acquiring an additional 314 shares during the period. Toroso Investments LLC boosted its holdings in Bath & Body Works by 3.7% during the 3rd quarter. Toroso Investments LLC now owns 8,943 shares of the company’s stock valued at $292,000 after acquiring an additional 319 shares during the period. Finally, Citizens & Northern Corp boosted its holdings in Bath & Body Works by 1.8% during the 1st quarter. Citizens & Northern Corp now owns 18,618 shares of the company’s stock valued at $681,000 after acquiring an additional 332 shares during the period. 94.31% of the stock is currently owned by hedge funds and other 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.