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

Bath & Body Works (NYSE:BBWI) posted its quarterly earnings data 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 firm 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 firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company 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 Price Performance

Shares of NYSE:BBWI opened at $29.36 on Friday. The company’s fifty day moving average price is $32.00 and its 200 day moving average price is $35.23. Bath & Body Works has a 12 month low of $27.30 and a 12 month high of $49.55. The firm has a market capitalization of $6.68 billion, a P/E ratio of 9.20, a P/E/G ratio of 1.04 and a beta of 1.84.

Bath & Body Works Announces Dividend

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

Institutional Investors Weigh In On Bath & Body Works

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC increased its stake in Bath & Body Works by 13.5% in the first quarter. ProShare Advisors LLC now owns 44,085 shares of the company’s stock valued at $1,613,000 after purchasing an additional 5,227 shares during the period. General American Investors Co. Inc. increased its stake in Bath & Body Works by 23.3% in the second quarter. General American Investors Co. Inc. now owns 264,592 shares of the company’s stock valued at $9,922,000 after purchasing an additional 50,000 shares during the period. Independent Advisor Alliance acquired a new position in Bath & Body Works in the first quarter valued at $703,000. Cibc World Markets Corp increased its stake in Bath & Body Works by 374.9% in the second quarter. Cibc World Markets Corp now owns 195,621 shares of the company’s stock valued at $7,336,000 after purchasing an additional 154,427 shares during the period. Finally, Rivermont Capital Management LP acquired a new position in Bath & Body Works in the first quarter valued at $1,027,000. 94.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Telsey Advisory Group lowered 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 research report on Friday. UBS Group raised their price target on shares of Bath & Body Works from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, August 24th. Barclays raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $45.00 in a research report on Tuesday, August 1st. JPMorgan Chase & Co. cut shares of Bath & Body Works from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $41.00 to $27.00 in a research report on Tuesday, October 24th. Finally, Citigroup raised their price target on shares of Bath & Body Works from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.