Bath & Body Works (NYSE:BBWI) Releases FY23 Earnings Guidance

Bath & Body Works (NYSE:BBWIGet Rating) updated its FY23 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.70-3.00 for the period, compared to the consensus estimate of $2.90. Bath & Body Works also updated its FY 2022 guidance to $2.70-$3.00 EPS.

Bath & Body Works Stock Performance

NYSE:BBWI traded down $0.63 on Wednesday, reaching $40.39. The company’s stock had a trading volume of 4,399,902 shares, compared to its average volume of 5,012,509. Bath & Body Works has a 1-year low of $25.75 and a 1-year high of $82.00. The business’s 50-day moving average price is $32.63 and its two-hundred day moving average price is $43.68. The firm has a market cap of $9.24 billion, a PE ratio of 8.80, a PEG ratio of 3.81 and a beta of 1.82.

Bath & Body Works (NYSE:BBWIGet Rating) last issued its quarterly earnings data on Wednesday, May 18th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Bath & Body Works had a negative return on equity of 69.03% and a net margin of 15.41%. As a group, sell-side analysts expect that Bath & Body Works will post 2.64 EPS for the current year.

Bath & Body Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 19th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.98%. Bath & Body Works’s payout ratio is 17.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BBWI. Piper Sandler decreased their price objective on Bath & Body Works to $44.00 in a report on Friday, July 22nd. Raymond James initiated coverage on shares of Bath & Body Works in a research note on Tuesday, July 12th. They set a strong-buy rating and a $45.00 price target for the company. Cowen reduced their target price on shares of Bath & Body Works from $82.00 to $60.00 and set an outperform rating for the company in a report on Friday, May 20th. UBS Group lowered their price target on shares of Bath & Body Works from $70.00 to $42.00 and set a buy rating on the stock in a research note on Friday, July 15th. Finally, Robert W. Baird reduced their price objective on shares of Bath & Body Works from $50.00 to $40.00 and set an outperform rating for the company in a research note on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $50.10.

Insider Activity at Bath & Body Works

In related news, insider Thomas E. Mazurek sold 16,338 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $42.25, for a total value of $690,280.50. Following the transaction, the insider now owns 11,225 shares in the company, valued at $474,256.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bath & Body Works

Institutional investors have recently modified their holdings of the business. National Pension Service increased its holdings in Bath & Body Works by 14.6% in the 2nd quarter. National Pension Service now owns 103,265 shares of the company’s stock worth $2,780,000 after purchasing an additional 13,166 shares in the last quarter. First Republic Investment Management Inc. bought a new position in Bath & Body Works during the second quarter worth $212,000. Captrust Financial Advisors boosted its position in shares of Bath & Body Works by 24.6% during the 2nd quarter. Captrust Financial Advisors now owns 3,892 shares of the company’s stock valued at $105,000 after purchasing an additional 768 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Bath & Body Works by 8.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,364,253 shares of the company’s stock worth $171,326,000 after buying an additional 484,674 shares during the period. Finally, Creative Planning raised its holdings in shares of Bath & Body Works by 16.6% during the second quarter. Creative Planning now owns 20,136 shares of the company’s stock valued at $542,000 after purchasing an additional 2,870 shares during the period. Institutional investors and hedge funds own 97.11% of the company’s stock.

About Bath & Body Works

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Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.

Further Reading

Earnings History and Estimates for Bath & Body Works (NYSE:BBWI)

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