| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Victorias Secret & Co (NYSE:VSCO) shares are trading lower Thursday on the heels of the company’s mixed fourth-quarter results. JPMorgan downgraded the stock and other analysts lowered price targets following the print.
What Happened: Victoria’s Secret reported fourth-quarter revenue of $2.08 billion, which missed consensus estimates of $2.09 billion, per Benzinga Pro. The company reported earnings of $2.58 per share, which beat estimates of $2.47 per share.
Victoria's Secret said it generated $589 million in operating cash flow during the quarter and paid down $410 million on its asset-based revolving credit facility. The company ended the quarter with a cash position of $270 million.
The company's board also authorized a new share repurchase program of up to $250 million. In fiscal-year 2023, Victoria's Secret repurchased 3.7 million shares for a total of $125 million.
Victoria's Secret expects first-quarter net sales to decrease in the mid-single digit range compared to the prior year's quarter. Adjusted operating income for the first quarter is expected to be in the range of $10 million to $35 million.
The company also guided for full-year 2024 revenue of approximately $6 billion versus estimates of $6.28 billion, according to Benzinga Pro.
Analyst Changes:
Check This Out: Novo Nordisk’s Stock Hits 52-Week High After Highly Sought After Obesity Drug Trial Data
VSCO Price Action: Victoria's Secret shares were down 29.4% at $18.10 at the time of publication, according to Benzinga Pro.
Photo: Shutterstock.
Posted In: VSCO
