Chico’s FAS (NYSE:CHS) Updates FY 2022 Earnings Guidance

Chico’s FAS (NYSE:CHSGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.89-$0.92 for the period, compared to the consensus earnings per share estimate of $0.85. The company issued revenue guidance of $2.15 billion-$2.17 billion, compared to the consensus revenue estimate of $2.17 billion. Chico’s FAS also updated its Q4 2022 guidance to $0.07-$0.10 EPS.

Chico’s FAS Price Performance

Chico’s FAS stock opened at $6.11 on Thursday. Chico’s FAS has a 52 week low of $3.80 and a 52 week high of $7.30. The business has a 50-day simple moving average of $5.57 and a 200 day simple moving average of $5.47. The company has a quick ratio of 0.48, a current ratio of 1.21 and a debt-to-equity ratio of 0.21. The stock has a market cap of $764.61 million, a price-to-earnings ratio of 6.71 and a beta of 1.22.

Chico’s FAS (NYSE:CHSGet Rating) last issued its quarterly earnings results on Wednesday, August 31st. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. The firm had revenue of $558.72 million during the quarter, compared to analyst estimates of $543.90 million. Chico’s FAS had a return on equity of 40.94% and a net margin of 5.31%. During the same quarter in the previous year, the company posted $0.21 earnings per share. On average, research analysts forecast that Chico’s FAS will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CHS. Telsey Advisory Group upped their price target on Chico’s FAS from $6.00 to $7.00 and gave the stock a market perform rating in a research note on Thursday, September 1st. TheStreet cut Chico’s FAS from a b- rating to a c rating in a report on Tuesday. Finally, initiated coverage on Chico’s FAS in a report on Wednesday, October 12th. They issued a buy rating on the stock.

Insider Activity

In other Chico’s FAS news, Director Bonnie R. Brooks sold 100,000 shares of Chico’s FAS stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $5.02, for a total value of $502,000.00. Following the transaction, the director now directly owns 992,527 shares of the company’s stock, valued at $4,982,485.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Chico’s FAS

A number of hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd grew its position in shares of Chico’s FAS by 333.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 8,309 shares of the specialty retailer’s stock valued at $40,000 after buying an additional 6,390 shares during the last quarter. Sei Investments Co. grew its position in Chico’s FAS by 20.6% during the 1st quarter. Sei Investments Co. now owns 14,093 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 2,404 shares during the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Chico’s FAS in the first quarter valued at about $48,000. Ensign Peak Advisors Inc acquired a new position in Chico’s FAS during the third quarter worth about $57,000. Finally, PDT Partners LLC acquired a new position in shares of Chico’s FAS in the first quarter valued at approximately $61,000. Hedge funds and other institutional investors own 83.94% of the company’s stock.

About Chico’s FAS

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Chico's FAS, Inc operates as an omnichannel specialty retailer of women's private branded casual-to-dressy clothing, intimates, and complementary accessories. It operates under the Chico's, White House Black Market (WHBM)and Soma brands. The Chico's brand primarily sells private branded clothing focusing on women with moderate to high household income levels.

See Also

Earnings History and Estimates for Chico's FAS (NYSE:CHS)

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