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

Chico’s FAS (NYSE:CHSGet 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 $5.17 on Tuesday. Chico’s FAS has a one year low of $2.67 and a one year high of $7.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.01 and a quick ratio of 0.35. The company’s fifty day moving average price is $4.70. The stock has a market cap of $633.37 million, a PE ratio of 13.97 and a beta of 1.51.

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

A number of analysts recently issued reports on the company. B. Riley dropped their price objective on Chico’s FAS from $6.00 to $5.00 in a report on Wednesday, March 2nd. StockNews.com cut Chico’s FAS from a strong-buy rating to a buy rating in a report on Saturday, March 26th. Finally, Zacks Investment Research raised Chico’s FAS from a sell rating to a hold rating and set a $5.75 price objective on the stock in a report on Tuesday, March 1st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $5.58.

In other news, insider Bonnie R. Brooks sold 200,000 shares of Chico’s FAS stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $4.28, for a total value of $856,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.80% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Chico’s FAS by 191.4% in the 2nd quarter. Royal Bank of Canada now owns 10,258 shares of the specialty retailer’s stock valued at $67,000 after purchasing an additional 6,738 shares during the period. Morgan Stanley lifted its stake in shares of Chico’s FAS by 31.7% in the 3rd quarter. Morgan Stanley now owns 922,017 shares of the specialty retailer’s stock valued at $4,141,000 after purchasing an additional 221,872 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Chico’s FAS by 95.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 128,988 shares of the specialty retailer’s stock valued at $579,000 after purchasing an additional 62,926 shares during the period. Bank of America Corp DE lifted its stake in shares of Chico’s FAS by 11.5% in the 4th quarter. Bank of America Corp DE now owns 329,509 shares of the specialty retailer’s stock valued at $1,773,000 after purchasing an additional 33,879 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Chico’s FAS by 155.3% in the 4th quarter. JPMorgan Chase & Co. now owns 272,705 shares of the specialty retailer’s stock valued at $1,468,000 after purchasing an additional 165,876 shares during the period. Hedge funds and other institutional investors 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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Earnings History and Estimates for Chico's FAS (NYSE:CHS)

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