Abercrombie & Fitch (NYSE:ANF) Announces Earnings Results

Abercrombie & Fitch (NYSE:ANFGet Rating) issued its quarterly earnings results on Tuesday. The apparel retailer reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14, Briefing.com reports. The business had revenue of $880.10 million during the quarter, compared to analysts’ expectations of $831.17 million. Abercrombie & Fitch had a return on equity of 11.57% and a net margin of 2.16%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. Abercrombie & Fitch updated its FY 2022 guidance to EPS and its Q4 2022 guidance to EPS.

Abercrombie & Fitch Stock Performance

NYSE:ANF opened at $23.98 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.58 and a debt-to-equity ratio of 0.45. Abercrombie & Fitch has a 12-month low of $14.02 and a 12-month high of $42.09. The stock has a 50-day moving average price of $17.13 and a 200 day moving average price of $18.87. The stock has a market capitalization of $1.19 billion, a P/E ratio of 19.34 and a beta of 1.37.

Analyst Upgrades and Downgrades

A number of analysts have commented on ANF shares. Morgan Stanley reduced their price target on Abercrombie & Fitch from $17.00 to $15.00 and set an “underweight” rating for the company in a research report on Tuesday, August 30th. Telsey Advisory Group upped their price target on Abercrombie & Fitch from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on Abercrombie & Fitch from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, October 31st. Citigroup upped their price target on Abercrombie & Fitch from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, B. Riley reduced their price target on Abercrombie & Fitch from $35.00 to $30.00 in a research report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.17.

Hedge Funds Weigh In On Abercrombie & Fitch

Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its holdings in Abercrombie & Fitch by 24.9% during the 2nd quarter. Captrust Financial Advisors now owns 4,580 shares of the apparel retailer’s stock valued at $77,000 after buying an additional 913 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Abercrombie & Fitch during the 1st quarter worth approximately $95,000. Public Employees Retirement System of Ohio lifted its stake in shares of Abercrombie & Fitch by 13.4% during 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 lifted 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 worth $110,000 after acquiring an additional 2,594 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its holdings in Abercrombie & Fitch by 633.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 7,513 shares of the apparel retailer’s stock worth $127,000 after purchasing an additional 6,489 shares during the period. Hedge funds and other institutional investors own 95.22% of the company’s stock.

Abercrombie & Fitch Company Profile

(Get Rating)

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.

Further Reading

Earnings History for Abercrombie & Fitch (NYSE:ANF)

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