Brokerages expect Childrens Place Inc (NASDAQ:PLCE) to post $501.33 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Childrens Place’s earnings. The highest sales estimate is $510.60 million and the lowest is $490.20 million. Childrens Place reported sales of $490.03 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The company is expected to report its next earnings results on Wednesday, November 21st.
According to Zacks, analysts expect that Childrens Place will report full-year sales of $1.95 billion for the current fiscal year, with estimates ranging from $1.94 billion to $1.96 billion. For the next financial year, analysts forecast that the firm will post sales of $2.01 billion, with estimates ranging from $1.99 billion to $2.06 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Childrens Place.
Childrens Place (NASDAQ:PLCE) last announced its earnings results on Thursday, August 23rd. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. Childrens Place had a net margin of 3.76% and a return on equity of 33.17%. The business had revenue of $448.70 million during the quarter, compared to analysts’ expectations of $427.89 million. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis.
A number of analysts have commented on the stock. BidaskClub upgraded shares of Childrens Place from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. ValuEngine cut shares of Childrens Place from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. Wedbush assumed coverage on shares of Childrens Place in a research note on Thursday, July 12th. They issued an “outperform” rating and a $150.00 price target for the company. Finally, Bank of America upgraded shares of Childrens Place from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 2nd. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Childrens Place has a consensus rating of “Buy” and a consensus price target of $148.91.
PLCE traded up $6.39 during trading hours on Friday, hitting $134.25. 600,280 shares of the company’s stock were exchanged, compared to its average volume of 553,100. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.96 and a beta of 0.43. Childrens Place has a 1-year low of $99.90 and a 1-year high of $161.65.
The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Wednesday, September 5th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, September 4th. Childrens Place’s dividend payout ratio is currently 25.28%.
In other Childrens Place news, insider Jane T. Elfers sold 100,000 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $134.93, for a total value of $13,493,000.00. Following the completion of the sale, the insider now owns 141,491 shares in the company, valued at $19,091,380.63. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in shares of Childrens Place during the 3rd quarter worth about $476,000. FMR LLC lifted its stake in shares of Childrens Place by 50.4% during the 2nd quarter. FMR LLC now owns 829,800 shares of the company’s stock worth $100,240,000 after buying an additional 278,017 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new stake in shares of Childrens Place during the 2nd quarter worth about $6,040,000. Verition Fund Management LLC acquired a new stake in shares of Childrens Place during the 2nd quarter worth about $452,000. Finally, B. Riley Financial Inc. acquired a new stake in shares of Childrens Place during the 2nd quarter worth about $390,000.
About Childrens Place
The Children’s Place, Inc engages in the provision of apparel, accessories and footwear for children. It also designs, contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Place and Baby Place. The company was founded in 1969 and is headquartered in Secaucus, NJ.
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