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

Bath & Body Works (NYSE:BBWI) released its earnings results on Thursday. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.13, MarketWatch Earnings reports. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Bath & Body Works had a net margin of 9.90% and a negative return on equity of 32.64%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. 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 Trading Down 2.5 %

Shares of NYSE:BBWI opened at $29.36 on Friday. Bath & Body Works has a 52 week low of $27.30 and a 52 week high of $49.55. The company’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 PE ratio of 9.20, a P/E/G ratio of 1.04 and a beta of 1.84.

Bath & Body Works Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Thursday, November 16th. Bath & Body Works’s dividend payout ratio is presently 25.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BBWI. Front Row Advisors LLC purchased a new position in shares of Bath & Body Works in the 3rd quarter valued at $25,000. Money Concepts Capital Corp boosted its stake in Bath & Body Works by 1,180.4% during the 4th quarter. Money Concepts Capital Corp now owns 653 shares of the company’s stock worth $28,000 after purchasing an additional 602 shares during the period. Desjardins Global Asset Management Inc. acquired a new stake in Bath & Body Works during the 1st quarter worth $36,000. Harvest Fund Management Co. Ltd acquired a new stake in Bath & Body Works during the 2nd quarter worth $36,000. Finally, Capital Advisors Ltd. LLC boosted its stake in 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 during the period. 94.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on BBWI. Telsey Advisory Group cut their target price on shares of Bath & Body Works from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday. Evercore ISI lowered their price target on shares of Bath & Body Works from $40.00 to $30.00 and set an “in-line” rating on the stock in a research report on Friday. Raymond James decreased their target price on shares of Bath & Body Works from $48.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, October 23rd. Citigroup boosted their target price on shares of Bath & Body Works from $38.00 to $40.00 and gave the company 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 objective for the stock from $45.00 to $30.00 in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.73.

About Bath & Body Works

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.