03:04 PM EDT, 05/28/2024 (MT Newswires) -- Victoria's Secret's (VSCO) fiscal Q1 earnings will not bring significant changes to stock performance or price-to-earnings ratio as the company already disclosed preliminary EPS and reiterated operating guidance for fiscal 2024, UBS said in an earnings preview emailed Tuesday.

"The market has similar expectations around the event," the firm said. "We doubt sentiment changes much because of Victoria's Secret's earnings report."

The firm said Victoria's Secret has gained high investor interest and its stock performed better than similar companies recently, indicating positive sentiment. The company's fiscal Q1 results are scheduled for June 5.

Key expectations for the fiscal Q1 earnings are the company maintaining its fiscal year 2024 guidance and giving an outlook for Q2 EPS that aligns with consensus expectations. UBS sees a balanced upside/downside skew over the event.

UBS said its data reveals weak sales trends for Victoria's Secret as the US searches and website traffic decline, and it expects a decrease in year-over-year sales from Q2 to Q4.

UBS reiterated its sell rating for Victoria's Secret and price target of $13.

Price: 20.74, Change: -0.02, Percent Change: -0.10