Children’s Place (NASDAQ:PLCE) Issues Quarterly Earnings Results

Children’s Place (NASDAQ:PLCE) posted its quarterly earnings data on Thursday. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.49 by ($0.27), MarketWatch Earnings reports. The firm had revenue of $480.20 million during the quarter, compared to analysts’ expectations of $465.71 million. Children’s Place had a negative net margin of 4.75% and a negative return on equity of 47.76%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the business posted $3.33 EPS. Children’s Place updated its Q4 guidance to $0.25-0.45 EPS and its FY 2023 guidance to -$0.59–$0.39 EPS.

Children’s Place Price Performance

Children’s Place stock opened at $19.11 on Friday. Children’s Place has a twelve month low of $14.27 and a twelve month high of $48.88. The firm has a 50 day moving average price of $25.76 and a 200-day moving average price of $25.07. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.15.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PLCE. State of Wyoming boosted its holdings in Children’s Place by 45.7% in the 4th quarter. State of Wyoming now owns 858 shares of the company’s stock worth $31,000 after buying an additional 269 shares during the period. Western Standard LLC bought a new position in Children’s Place in the 4th quarter valued at $40,000. PNC Financial Services Group Inc. boosted its holdings in Children’s Place by 51.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,171 shares of the company’s stock valued at $43,000 after purchasing an additional 399 shares during the period. Captrust Financial Advisors boosted its holdings in Children’s Place by 25.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,114 shares of the company’s stock valued at $43,000 after purchasing an additional 226 shares during the period. Finally, Alpha Paradigm Partners LLC bought a new position in Children’s Place in the 3rd quarter valued at $49,000. 94.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $31.00 price objective on shares of Children’s Place in a research note on Wednesday. Monness Crespi & Hardt decreased their price objective on shares of Children’s Place from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com upgraded shares of Children’s Place from a “sell” rating to a “hold” rating in a research note on Friday. Finally, B. Riley increased their target price on shares of Children’s Place from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.50.

Children’s Place Company Profile

The Children's Place, Inc operates as a children's specialty apparel retailer in North America. It operates through two segments, The Children's Place U.S. and The Children's Place International. The company offers apparel, footwear, accessories, and other items for children and tweens; and designs, contracts to manufacture, and sells merchandise under the proprietary The Children's Place, Place, Baby Place, Gymboree, Sugar & Jade, and PJ Place brand names.