Victoria’s Secret & Co (NYSE: VSCO): Stock Forecast For 2024 Remains Weak With A Downward Revision Of 35.3%

In the last trading session, 2.18 million shares of the Victoria’s Secret & Co (NYSE:VSCO) were traded, and its beta was 2.19. Most recently the company’s share price was $19.38, and it changed around $0.44 or 2.32% from the last close, which brings the market valuation of the company to $1.50B. VSCO currently trades at a discount to its 52-week high of $34.97, offering almost -80.44% off that amount. The share price’s 52-week low was $13.62, which indicates that the current value has risen by an impressive 29.72% since then. We note from Victoria’s Secret & Co’s average daily trading volume that its 10-day average is 2.54 million shares, with the 3-month average coming to 2.82 million.

Victoria’s Secret & Co stock received a consensus recommendation rating of Hold, based on a mean score of 2.91. If we narrow it down even further, the data shows that 1 out of 11 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 6 recommended VSCO as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Victoria’s Secret & Co is expected to report earnings per share of $0 for the current quarter.

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Victoria’s Secret & Co (NYSE:VSCO) trade information

Instantly VSCO has showed a green trend with a performance of 2.32% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -26.98% year-to-date, but still down -3.15% over the last five days. On the other hand, Victoria’s Secret & Co (NYSE:VSCO) is -33.10% down in the 30-day period. We can see from the shorts that 9.29 million shares have been sold at a short interest cover period of 2.11 day(s).

The consensus price target as assigned by Wall Street analysts is $49.43, which translates to bulls needing to increase their stock price by 60.79% from its current value. Analyst projections state that VSCO is forecast to be at a low of $29 and a high of $70.

Victoria’s Secret & Co (VSCO) estimates and forecasts

Victoria’s Secret & Co share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 18.39 percent over the past six months and at a -25.99% annual growth rate that is well below the industry average of -5.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -100.00% in revenue this quarter, and will report a decrease of -54.20% in the next quarter. The year-over-year growth rate is expected to be -3.10%, down from the previous year.

Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $1.34 billion in revenue for the current quarter. 10 analysts expect Victoria’s Secret & Co to make $1.38 billion in revenue for the quarter ending Jul 2024. Analysts predict that the company’s current quarter sales will drop, forecast at -4.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -12.65%.

VSCO Dividends

Victoria’s Secret & Co’s next quarterly earnings report is expected to be released around June 01 and June 06.

Victoria’s Secret & Co (NYSE:VSCO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 11.23% of Victoria’s Secret & Co shares, and 96.03% of them are in the hands of institutional investors. The stock currently has a share float of 108.18%. Victoria’s Secret & Co stock is held by 361 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 13.28% of the shares, which is about 10.26 million shares worth $178.82 million.

FMR, LLC, with 11.28% or 8.72 million shares worth $151.96 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 5.21 million shares worth $86.88 million, making up 6.74% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.51 million shares worth around $43.67 million, which represents about 3.24% of the total shares outstanding.