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

Chico’s FAS (NYSE:CHS – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.400-$0.500 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.480. The company issued revenue guidance of $2.09 billion-$2.12 billion, compared to the consensus revenue estimate of $2.09 billion.Chico’s FAS also updated its Q1 2022 guidance to $0.070-$0.110 EPS.

Shares of NYSE:CHS opened at $4.94 on Tuesday. The firm has a market cap of $605.20 million, a PE ratio of 13.35 and a beta of 1.51. The stock’s fifty day simple moving average is $4.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.35 and a current ratio of 1.01. Chico’s FAS has a 1-year low of $2.67 and a 1-year high of $7.29.

Chico’s FAS (NYSE:CHS – Get Rating) last issued its quarterly earnings results on Tuesday, March 1st. The specialty retailer reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04. The firm had revenue of $496.26 million during the quarter, compared to analysts’ expectations of $498.00 million. Chico’s FAS had a net margin of 2.55% and a return on equity of 25.89%. During the same quarter in the prior year, the business earned ($0.36) EPS. Analysts anticipate that Chico’s FAS will post 0.46 earnings per share for the current fiscal year.

CHS has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Chico’s FAS from a sell rating to a hold rating and set a $5.75 price target for the company in a research note on Tuesday, March 1st. B. Riley cut their price objective on shares of Chico’s FAS from $6.00 to $5.00 in a research report on Wednesday, March 2nd. Finally, StockNews.com downgraded shares of Chico’s FAS from a strong-buy rating to a buy rating in a research report on Saturday, March 26th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $5.58.

In other news, insider Bonnie R. Brooks sold 200,000 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $4.28, for a total value of $856,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CHS. Sei Investments Co. purchased a new position in Chico’s FAS during the 4th quarter valued at about $47,000. Virtu Financial LLC purchased a new position in Chico’s FAS during the 4th quarter valued at about $60,000. LPL Financial LLC purchased a new position in Chico’s FAS during the 4th quarter valued at about $62,000. Royal Bank of Canada increased its holdings in Chico’s FAS by 191.4% during the 2nd quarter. Royal Bank of Canada now owns 10,258 shares of the specialty retailer’s stock valued at $67,000 after acquiring an additional 6,738 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in Chico’s FAS by 11.0% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 31,574 shares of the specialty retailer’s stock valued at $170,000 after acquiring an additional 3,138 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

About Chico’s FAS (Get Rating)

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.

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