Abercrombie & Fitch (NYSE:ANF) Releases Earnings Results, Beats Estimates By $0.14 EPS

Abercrombie & Fitch (NYSE:ANFGet Rating) issued its earnings results on Tuesday. The apparel retailer reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14, Briefing.com reports. Abercrombie & Fitch had a return on equity of 5.38% and a net margin of 0.82%. The company had revenue of $880.10 million for the quarter, compared to analysts’ expectations of $831.17 million. During the same period last year, the business earned $0.86 EPS. Abercrombie & Fitch’s quarterly revenue was down 2.8% compared to the same quarter last year. Abercrombie & Fitch updated its FY 2022 guidance to EPS and its Q4 2022 guidance to EPS.

Abercrombie & Fitch Trading Up 6.0 %

NYSE:ANF traded up $1.36 during trading hours on Thursday, reaching $23.98. The company’s stock had a trading volume of 3,932,039 shares, compared to its average volume of 1,797,850. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 55.77 and a beta of 1.37. The firm has a 50-day simple moving average of $17.13 and a 200-day simple moving average of $18.87. Abercrombie & Fitch has a 1 year low of $14.02 and a 1 year high of $42.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.58 and a current ratio of 1.30.

Institutional Investors Weigh In On Abercrombie & Fitch

A number of large investors have recently added to or reduced their stakes in ANF. Captrust Financial Advisors grew its holdings in Abercrombie & Fitch by 24.9% in the 2nd quarter. Captrust Financial Advisors now owns 4,580 shares of the apparel retailer’s stock worth $77,000 after acquiring an additional 913 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in Abercrombie & Fitch in the 1st quarter worth $95,000. Public Employees Retirement System of Ohio grew its holdings in Abercrombie & Fitch by 13.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,851 shares of the apparel retailer’s stock worth $107,000 after acquiring an additional 810 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Abercrombie & Fitch by 57.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,073 shares of the apparel retailer’s stock valued at $110,000 after purchasing an additional 2,594 shares in the last quarter. Finally, Point72 Hong Kong Ltd boosted its stake in shares of Abercrombie & Fitch by 633.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 7,513 shares of the apparel retailer’s stock valued at $127,000 after purchasing an additional 6,489 shares in the last quarter. Institutional investors own 95.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ANF. JPMorgan Chase & Co. lowered their target price on Abercrombie & Fitch from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, October 31st. StockNews.com began coverage on shares of Abercrombie & Fitch in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup raised their price objective on shares of Abercrombie & Fitch from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday. B. Riley cut their price objective on shares of Abercrombie & Fitch from $35.00 to $30.00 in a report on Tuesday, August 16th. Finally, Telsey Advisory Group increased their target price on shares of Abercrombie & Fitch from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.33.

Abercrombie & Fitch Company Profile

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Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The company operates in two segments, Hollister and Abercrombie. It offers an assortment of apparel, personal care products, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, Moose, Seagull, Gilly Hicks, and Social Tourist brands.

See Also

Earnings History for Abercrombie & Fitch (NYSE:ANF)

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