Analysts Expect Stitch Fix Inc (SFIX) to Post $0.04 Earnings Per Share

Equities analysts predict that Stitch Fix Inc (NASDAQ:SFIX) will report earnings per share (EPS) of $0.04 for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Stitch Fix’s earnings. The lowest EPS estimate is $0.03 and the highest is $0.06. The company is scheduled to announce its next earnings report after the market closes on Monday, October 1st.

According to Zacks, analysts expect that Stitch Fix will report full-year earnings of $0.22 per share for the current financial year, with EPS estimates ranging from $0.19 to $0.28. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.20 per share, with EPS estimates ranging from $0.07 to $0.35. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Stitch Fix.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Thursday, June 7th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Stitch Fix had a net margin of 1.90% and a return on equity of 15.39%. The company had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $306.67 million. During the same quarter in the previous year, the company earned ($0.38) earnings per share. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis.

A number of research firms have weighed in on SFIX. SunTrust Banks began coverage on shares of Stitch Fix in a report on Friday, August 10th. They issued a “buy” rating and a $38.00 price objective for the company. Zacks Investment Research cut shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. KeyCorp began coverage on shares of Stitch Fix in a report on Tuesday, July 10th. They issued an “overweight” rating and a $38.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Stitch Fix from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, June 8th. Finally, Wells Fargo & Co began coverage on shares of Stitch Fix in a report on Thursday, August 2nd. They issued a “market perform” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $28.60.

SFIX traded up $1.33 on Thursday, reaching $34.16. The stock had a trading volume of 1,829,600 shares, compared to its average volume of 1,361,234. Stitch Fix has a 12-month low of $14.48 and a 12-month high of $35.45.

In other news, COO Mike C. Smith sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $32.69, for a total transaction of $817,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Katrina Lake sold 200,000 shares of the business’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $33.18, for a total transaction of $6,636,000.00. The disclosure for this sale can be found here. Insiders have sold 1,181,807 shares of company stock valued at $31,293,391 in the last three months.

Hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new stake in shares of Stitch Fix during the second quarter worth about $203,000. California Public Employees Retirement System purchased a new stake in shares of Stitch Fix during the second quarter worth about $228,000. Element Capital Management LLC purchased a new stake in shares of Stitch Fix during the first quarter worth about $220,000. Bank of New York Mellon Corp purchased a new stake in shares of Stitch Fix during the second quarter worth about $367,000. Finally, Millennium Management LLC purchased a new stake in shares of Stitch Fix during the first quarter worth about $296,000. 12.51% of the stock is owned by institutional investors and hedge funds.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men and women under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.

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