Bath & Body Works, Inc. to Post Q1 2023 Earnings of $0.54 Per Share, B. Riley Forecasts (NYSE:BBWI)

Bath & Body Works, Inc. (NYSE:BBWIGet Rating) – Equities researchers at B. Riley boosted their Q1 2023 earnings estimates for Bath & Body Works in a research report issued to clients and investors on Tuesday, May 17th. B. Riley analyst S. Anderson now forecasts that the company will post earnings of $0.54 per share for the quarter, up from their previous estimate of $0.52. B. Riley also issued estimates for Bath & Body Works’ Q3 2023 earnings at $0.92 EPS, Q4 2023 earnings at $2.58 EPS, FY2023 earnings at $4.70 EPS and FY2024 earnings at $5.43 EPS.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reduced their target price on Bath & Body Works from $78.00 to $61.00 in a research report on Thursday. MKM Partners reduced their target price on Bath & Body Works from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 24th. Robert W. Baird reduced their target price on Bath & Body Works from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday. Barclays cut their price objective on Bath & Body Works from $53.00 to $40.00 in a report on Friday. Finally, Cowen upgraded Bath & Body Works from a “market perform” rating to an “outperform” rating and set a $82.00 price objective for the company in a report on Monday, May 2nd. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $70.85.

Bath & Body Works stock opened at $40.03 on Friday. Bath & Body Works has a 52 week low of $38.35 and a 52 week high of $82.00. The business has a 50-day simple moving average of $50.14 and a 200 day simple moving average of $59.01. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 1.02 and a beta of 1.56.

Bath & Body Works (NYSE:BBWIGet Rating) last issued its earnings results on Wednesday, May 18th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.11. Bath & Body Works had a negative return on equity of 83.19% and a net margin of 15.41%.

In other Bath & Body Works news, CFO Wendy C. Arlin sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $55.00, for a total transaction of $330,000.00. Following the completion of the transaction, the chief financial officer now owns 98,888 shares of the company’s stock, valued at approximately $5,438,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Large investors have recently made changes to their positions in the company. Lone Pine Capital LLC purchased a new stake in shares of Bath & Body Works in the 3rd quarter worth approximately $1,531,646,000. State Street Corp grew its stake in shares of Bath & Body Works by 3.8% in the 4th quarter. State Street Corp now owns 11,173,734 shares of the company’s stock worth $779,815,000 after buying an additional 412,656 shares during the last quarter. Steadfast Capital Management LP purchased a new stake in shares of Bath & Body Works in the 3rd quarter worth approximately $468,997,000. Primecap Management Co. CA purchased a new stake in shares of Bath & Body Works in the 3rd quarter worth approximately $382,655,000. Finally, Geode Capital Management LLC boosted its stake in Bath & Body Works by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,966,256 shares of the company’s stock valued at $345,713,000 after purchasing an additional 91,300 shares during the last quarter. 97.11% of the stock is owned by hedge funds and other institutional investors.

Bath & Body Works Company Profile (Get Rating)

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.

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

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