FY2022 EPS Estimates for Abercrombie & Fitch Co. (NYSE:ANF) Lowered by William Blair

Abercrombie & Fitch Co. (NYSE:ANF) – William Blair cut their FY2022 earnings per share estimates for Abercrombie & Fitch in a report issued on Tuesday, January 11th. William Blair analyst D. Carden now forecasts that the apparel retailer will post earnings of $4.34 per share for the year, down from their prior forecast of $4.66. William Blair also issued estimates for Abercrombie & Fitch’s Q4 2022 earnings at $1.12 EPS, Q1 2023 earnings at $0.35 EPS, Q4 2023 earnings at $1.30 EPS and FY2023 earnings at $4.02 EPS.

Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Abercrombie & Fitch from a “hold” rating to a “strong-buy” rating and set a $37.00 target price for the company in a research report on Tuesday. UBS Group cut shares of Abercrombie & Fitch from a “buy” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $37.00 in a research report on Friday, January 7th. Telsey Advisory Group dropped their target price on shares of Abercrombie & Fitch from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday. B. Riley upped their target price on shares of Abercrombie & Fitch from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, November 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Abercrombie & Fitch from $44.00 to $41.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $43.17.

Shares of Abercrombie & Fitch stock opened at $34.14 on Thursday. The firm has a fifty day moving average of $37.54 and a two-hundred day moving average of $38.60. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 7.81 and a beta of 1.70. Abercrombie & Fitch has a 52 week low of $22.29 and a 52 week high of $48.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.56.

Abercrombie & Fitch (NYSE:ANF) last posted its quarterly earnings data on Tuesday, November 23rd. The apparel retailer reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.20. Abercrombie & Fitch had a net margin of 7.62% and a return on equity of 32.02%. The firm had revenue of $905.20 million during the quarter, compared to analysts’ expectations of $895.17 million. During the same quarter in the previous year, the company posted $0.76 EPS. Abercrombie & Fitch’s revenue was up 10.4% on a year-over-year basis.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Abercrombie & Fitch by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,055,533 shares of the apparel retailer’s stock worth $327,588,000 after buying an additional 160,713 shares during the last quarter. Paradice Investment Management LLC boosted its stake in shares of Abercrombie & Fitch by 5.0% during the 3rd quarter. Paradice Investment Management LLC now owns 2,825,047 shares of the apparel retailer’s stock worth $106,307,000 after buying an additional 134,224 shares during the last quarter. State Street Corp boosted its stake in shares of Abercrombie & Fitch by 4.1% during the 2nd quarter. State Street Corp now owns 2,377,971 shares of the apparel retailer’s stock worth $110,409,000 after buying an additional 92,921 shares during the last quarter. Melvin Capital Management LP acquired a new position in shares of Abercrombie & Fitch during the 2nd quarter worth about $50,841,000. Finally, Geode Capital Management LLC boosted its stake in shares of Abercrombie & Fitch by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,064,402 shares of the apparel retailer’s stock worth $49,420,000 after buying an additional 56,514 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

In related news, Director Sarah M. Gallagher sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $39.11, for a total value of $391,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristin A. Scott sold 5,791 shares of the company’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $45.00, for a total transaction of $260,595.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Abercrombie & Fitch declared that its board has approved a share buyback program on Tuesday, November 23rd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the apparel retailer to repurchase up to 22.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

About Abercrombie & Fitch

Abercrombie & Fitch Co engages in the retail of apparel, personal care products and accessories. It offers apparel products, including knit tops, woven shirts, graphic t-shirts, fleece, sweaters, jeans, woven pants, shorts, outerwear, dresses, intimates and swimwear; and personal care products and accessories for men, women and kids under the Abercrombie & Fitch, abercrombie kids, Hollister and Gilly Hicks brands.

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Earnings History and Estimates for Abercrombie & Fitch (NYSE:ANF)

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