Torrid (NYSE:CURV) Releases Earnings Results, Beats Expectations By $0.04 EPS

Torrid (NYSE:CURV) issued its earnings results on Thursday. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04, Briefing.com reports. Torrid had a negative return on equity of 5.41% and a net margin of 1.01%. The firm had revenue of $293.54 million for the quarter, compared to the consensus estimate of $276.20 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. Torrid updated its FY 2024 guidance to EPS and its Q1 2024 guidance to EPS.

Torrid Price Performance

NYSE CURV traded up $0.29 on Friday, hitting $4.88. 181,179 shares of the company’s stock were exchanged, compared to its average volume of 75,324. The firm’s 50-day moving average price is $4.70 and its two-hundred day moving average price is $3.92. Torrid has a fifty-two week low of $1.21 and a fifty-two week high of $6.86. The firm has a market cap of $508.01 million, a price-to-earnings ratio of 48.80 and a beta of 2.01.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CURV. Morgan Stanley upped their target price on Torrid from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Friday, December 8th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $5.00 price target on shares of Torrid in a report on Monday. Finally, B. Riley started coverage on Torrid in a report on Thursday, February 8th. They issued a “buy” rating and a $7.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Torrid currently has an average rating of “Hold” and an average target price of $3.80.

Insiders Place Their Bets

In related news, Director Valeria Rico Nikolov sold 25,380 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $5.62, for a total value of $142,635.60. Following the completion of the transaction, the director now directly owns 51,457 shares of the company’s stock, valued at approximately $289,188.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Torrid

Several hedge funds have recently made changes to their positions in CURV. Gilder Gagnon Howe & Co. LLC boosted its holdings in Torrid by 752.9% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 380,729 shares of the company’s stock valued at $1,660,000 after acquiring an additional 336,088 shares during the last quarter. Millennium Management LLC boosted its holdings in Torrid by 936.2% in the second quarter. Millennium Management LLC now owns 152,452 shares of the company’s stock valued at $659,000 after acquiring an additional 137,740 shares during the last quarter. BlackRock Inc. boosted its holdings in Torrid by 15.8% in the first quarter. BlackRock Inc. now owns 885,970 shares of the company’s stock valued at $5,369,000 after acquiring an additional 120,915 shares during the last quarter. Citigroup Inc. boosted its holdings in Torrid by 2,270.7% in the first quarter. Citigroup Inc. now owns 77,284 shares of the company’s stock valued at $469,000 after acquiring an additional 74,024 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Torrid by 134.4% in the fourth quarter. Morgan Stanley now owns 128,489 shares of the company’s stock valued at $380,000 after acquiring an additional 73,664 shares during the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

Torrid Company Profile

Torrid Holdings Inc operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid and Torrid Curve brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.