The three major U.S. equity indexes closed higher on Monday. The Dow Jones industrials added 0.45%, while the S&P 500 rose by 0.4%, and the Nasdaq climbed 0.62%. Eight of 11 sectors ended the day higher, led by defensive favorites consumer staples (1.0%) and utilities (0.8%). Energy stocks fell by 1.9% following news that China is easing its lending rates. Crude oil dropped below $90 a barrel and continued sliding in early trading Tuesday. All three major indexes traded lower in Tuesday\u2019s premarket.<\/p>\n
Before U.S. markets opened on Tuesday, Walmart beat analysts\u2019 expectations on both the top and bottom lines. The company also raised fiscal year guidance. Shares traded up by about 3.7%.<\/p>\n
Home Depot beat consensus estimates for earnings per share (EPS) and revenue, and it reaffirmed previous guidance. Transaction numbers were down 3% but average ticket size was up 9.1%. The shares traded down about 2.5%.<\/p>\n
Sea Limited missed the consensus revenue estimate while posting a smaller-than-expected loss. The company said it would stop providing fiscal year 2022 GAAP revenue guidance. Investors were not amused, and the stock traded down about 6.6% Tuesday.<\/p>\n
Genius Sports beat analysts\u2019 consensus revenue estimate and posted a smaller-than-expected quarterly loss. Shares traded up 5.7% in Tuesday\u2019s premarket.<\/p>\n
Check out our preview of Lowe\u2019s, Target and TJX, all scheduled to report results first thing Wednesday morning.<\/p>\n
Here, we preview expectations for three companies set to report quarterly results after Wednesday\u2019s close.\n\t\t<\/p>\n
It has been a year now since the company formerly known as L Brands spun off its Victoria\u2019s Secret business and renamed itself Bath & Body Works Inc. (NYSE: BBWI). Over that period, its stock slumped to a 52-week low last month and closed on Monday nearly 35% lower for the year. The company cut its second-quarter and full-year guidance in mid-July, citing inflationary pressures both on its customers and on its own operations.<\/p>\n
Of 22 analysts covering the firm, 18 have a Buy or Strong Buy rating, and the other seven rate the stock at Hold. At a recent trading price of around $39.20 a share, the upside potential based on a median price target of $44.00 is 12.2%. Using the high price target of $82.00, the upside potential is 109.2%.<\/p>\n
Second-quarter revenue is forecast at $1.61 billion, which would be up 11.3% sequentially but down almost 50% year over year. Analysts expect adjusted EPS of $0.41, down about 36% sequentially and 69.4% lower year over year. For the full fiscal year ending in January, analysts estimate EPS of $2.90, down 35.7%, and revenue of $7.37 billion, down 6.4%.<\/p>\n
Bath & Body Works stock trades at 10.6 times expected 2023 earnings, 9.0 times estimated 2024 earnings of $4.33 and 7.3 times estimated 2025 earnings of $5.36 per share. The stock\u2019s 52-week trading range is $25.75 to $82.00, and the company pays an annual dividend of $0.80 (yield of 2%). Total shareholder return for the past year was negative 34.7%.<\/p>\n
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