Abercrombie & Fitch Co. (NYSE:ANF) Expected to Earn Q3 2022 Earnings of $0.55 Per Share

Abercrombie & Fitch Co. (NYSE:ANF) – Analysts at Jefferies Financial Group dropped their Q3 2022 EPS estimates for Abercrombie & Fitch in a research report issued to clients and investors on Tuesday, January 12th. Jefferies Financial Group analyst J. Stichter now forecasts that the apparel retailer will post earnings per share of $0.55 for the quarter, down from their prior estimate of $0.58. Jefferies Financial Group also issued estimates for Abercrombie & Fitch’s Q4 2022 earnings at $1.25 EPS, FY2022 earnings at $1.15 EPS and FY2023 earnings at $1.44 EPS.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings results on Tuesday, November 24th. The apparel retailer reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.81. Abercrombie & Fitch had a negative net margin of 3.55% and a negative return on equity of 6.61%. The firm had revenue of $819.65 million during the quarter, compared to analyst estimates of $735.27 million. During the same quarter in the prior year, the business posted $0.23 earnings per share.

ANF has been the topic of several other reports. Bank of America upped their price objective on shares of Abercrombie & Fitch from $9.00 to $18.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 25th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on shares of Abercrombie & Fitch from $20.00 to $28.00 in a research note on Wednesday, November 25th. B. Riley upped their price objective on shares of Abercrombie & Fitch from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 25th. Royal Bank of Canada upped their price objective on shares of Abercrombie & Fitch from $14.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 25th. Finally, Smith Barney Citigroup upped their price objective on shares of Abercrombie & Fitch from $20.00 to $28.00 in a research note on Wednesday, November 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $22.46.

NYSE:ANF opened at $23.93 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.60 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1.49 billion, a PE ratio of -12.74 and a beta of 1.82. Abercrombie & Fitch has a 12-month low of $7.41 and a 12-month high of $24.28. The firm has a 50-day moving average price of $21.05 and a 200 day moving average price of $15.37.

In other news, Director Charles R. Perrin sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 25th. The shares were sold at an average price of $22.66, for a total transaction of $453,200.00. Following the sale, the director now directly owns 41,141 shares of the company’s stock, valued at $932,255.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Cambria Investment Management L.P. boosted its stake in Abercrombie & Fitch by 2.6% in the third quarter. Cambria Investment Management L.P. now owns 45,279 shares of the apparel retailer’s stock valued at $631,000 after acquiring an additional 1,161 shares during the last quarter. California State Teachers Retirement System boosted its stake in Abercrombie & Fitch by 1.3% in the third quarter. California State Teachers Retirement System now owns 107,039 shares of the apparel retailer’s stock valued at $1,491,000 after acquiring an additional 1,373 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Abercrombie & Fitch by 134.4% in the third quarter. Acadian Asset Management LLC now owns 4,331 shares of the apparel retailer’s stock valued at $61,000 after acquiring an additional 2,483 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Abercrombie & Fitch by 333.3% in the third quarter. Nisa Investment Advisors LLC now owns 4,030 shares of the apparel retailer’s stock valued at $56,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Abercrombie & Fitch by 0.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 567,598 shares of the apparel retailer’s stock valued at $6,040,000 after acquiring an additional 3,334 shares during the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Abercrombie & Fitch Company Profile

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, intimates, and accessories for men, women, and children under the Hollister, Abercrombie & Fitch, abercrombie kids, Moose, Seagull, and Gilly Hicks brands.

Read More: Special Purpose Acquisition Company (SPAC) – What You Need to Know