Children’s Place (NASDAQ:PLCE) Releases Earnings Results, Misses Estimates By $0.27 EPS

Children’s Place (NASDAQ:PLCE) issued its quarterly earnings results on Thursday. The company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.49 by ($0.27), MarketWatch Earnings reports. Children’s Place had a negative return on equity of 47.76% and a negative net margin of 4.75%. The company had revenue of $480.20 million for the quarter, compared to analysts’ expectations of $465.71 million. During the same quarter in the previous year, the business earned $3.33 EPS. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. 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 Stock Performance

Shares of NASDAQ:PLCE opened at $19.11 on Friday. The company has a 50 day moving average of $25.76 and a 200 day moving average of $25.07. The company has a quick ratio of 0.15, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Children’s Place has a 12 month low of $14.27 and a 12 month high of $48.88.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Children’s Place in the fourth quarter worth $20,294,000. Balyasny Asset Management L.P. bought a new stake in shares of Children’s Place during the 1st quarter valued at about $21,312,000. Renaissance Technologies LLC grew its holdings in shares of Children’s Place by 73.5% during the first quarter. Renaissance Technologies LLC now owns 348,360 shares of the company’s stock worth $17,174,000 after purchasing an additional 147,600 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Children’s Place in the first quarter worth approximately $5,188,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Children’s Place during the 4th quarter valued at $3,863,000. 94.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Monness Crespi & Hardt cut their price target on 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. Telsey Advisory Group restated a “market perform” rating and set a $31.00 price target on shares of Children’s Place in a research note on Wednesday. Finally, B. Riley lifted their price objective on shares of Children’s Place from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.50.

About Children’s Place

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.