Bread Financial Holdings, Inc. to Post Q1 2024 Earnings of $2.99 Per Share, Seaport Res Ptn Forecasts (NYSE:BFH)

Bread Financial Holdings, Inc. (NYSE:BFH) – Research analysts at Seaport Res Ptn decreased their Q1 2024 earnings per share estimates for shares of Bread Financial in a report issued on Tuesday, April 16th. Seaport Res Ptn analyst W. Ryan now forecasts that the company will post earnings per share of $2.99 for the quarter, down from their previous forecast of $3.24. The consensus estimate for Bread Financial’s current full-year earnings is $7.03 per share. Seaport Res Ptn also issued estimates for Bread Financial’s Q2 2024 earnings at $0.82 EPS and Q3 2024 earnings at $1.78 EPS.

Bread Financial (NYSE:BFH) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $1.57. The business had revenue of $1,000.00 million during the quarter, compared to the consensus estimate of $984.36 million. Bread Financial had a net margin of 13.87% and a return on equity of 26.24%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted ($2.68) earnings per share.

Several other brokerages have also weighed in on BFH. Oppenheimer raised Bread Financial from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a report on Friday, January 26th. Barclays lowered their price objective on Bread Financial from $27.00 to $26.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 9th. BMO Capital Markets cut their target price on shares of Bread Financial from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Monday, January 29th. Wolfe Research raised shares of Bread Financial from a “peer perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Thursday, April 4th. Finally, Evercore ISI cut shares of Bread Financial from an “in-line” rating to an “underperform” rating and upped their price target for the company from $29.00 to $33.00 in a research note on Wednesday, January 3rd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.55.

Bread Financial Trading Down 3.9 %

Shares of BFH stock opened at $32.23 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.59 billion, a P/E ratio of 2.25, a PEG ratio of 0.12 and a beta of 1.93. The company has a 50 day moving average of $36.77 and a 200-day moving average of $32.88. Bread Financial has a 12-month low of $23.19 and a 12-month high of $41.89.

Bread Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, February 8th. Bread Financial’s payout ratio is 5.87%.

Insider Activity

In related news, major shareholder Turtle Creek Asset Management sold 45,000 shares of Bread Financial stock in a transaction on Monday, January 29th. The stock was sold at an average price of $35.67, for a total transaction of $1,605,150.00. Following the completion of the sale, the insider now owns 293,092 shares of the company’s stock, valued at $10,454,591.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 165,000 shares of company stock worth $5,417,850 in the last three months. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. DGS Capital Management LLC purchased a new position in Bread Financial in the 1st quarter worth approximately $368,000. Quadrature Capital Ltd lifted its holdings in shares of Bread Financial by 2.4% during the 4th quarter. Quadrature Capital Ltd now owns 25,993 shares of the company’s stock worth $856,000 after acquiring an additional 611 shares during the last quarter. Wellington Management Group LLP grew its position in Bread Financial by 7.8% in the fourth quarter. Wellington Management Group LLP now owns 2,107,253 shares of the company’s stock worth $69,413,000 after acquiring an additional 152,954 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in Bread Financial in the fourth quarter valued at $220,000. Finally, Price T Rowe Associates Inc. MD raised its position in Bread Financial by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,926 shares of the company’s stock valued at $1,052,000 after purchasing an additional 786 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

About Bread Financial

Bread Financial Holdings, Inc provides tech-forward payment and lending solutions to customers and consumer-based industries in North America. It offers credit card and other loans financing services, including risk management solutions, account origination, and funding services for private label and co-brand credit card programs, as well as through Bread partnerships; and Comenity-branded general purpose cash-back credit.