Abercrombie & Fitch Co. (NYSE:ANF) Forecasted to Post Q1 2023 Earnings of $0.06 Per Share

Abercrombie & Fitch Co. (NYSE:ANFGet Rating) – Analysts at B. Riley boosted their Q1 2023 EPS estimates for Abercrombie & Fitch in a report released on Tuesday, May 17th. B. Riley analyst S. Anderson now expects that the apparel retailer will post earnings of $0.06 per share for the quarter, up from their previous estimate of $0.04. B. Riley also issued estimates for Abercrombie & Fitch’s Q2 2023 earnings at $1.01 EPS, Q3 2023 earnings at $0.91 EPS, Q4 2023 earnings at $1.43 EPS, FY2023 earnings at $3.37 EPS and FY2024 earnings at $4.01 EPS.

Abercrombie & Fitch (NYSE:ANFGet Rating) last announced its quarterly earnings results on Wednesday, March 2nd. The apparel retailer reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.13). The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Abercrombie & Fitch had a return on equity of 29.73% and a net margin of 7.08%. Abercrombie & Fitch’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.50 earnings per share.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Abercrombie & Fitch from $35.00 to $39.00 in a research note on Monday. StockNews.com assumed coverage on Abercrombie & Fitch in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Telsey Advisory Group dropped their price objective on Abercrombie & Fitch from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Abercrombie & Fitch presently has an average rating of “Buy” and an average price target of $44.20.

Abercrombie & Fitch stock opened at $29.06 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.97 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $33.16 and its two-hundred day simple moving average is $35.89. Abercrombie & Fitch has a 12 month low of $26.47 and a 12 month high of $48.97. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 6.89 and a beta of 1.40.

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its holdings in shares of Abercrombie & Fitch by 236.8% during the 3rd quarter. SG Americas Securities LLC now owns 8,319 shares of the apparel retailer’s stock worth $313,000 after purchasing an additional 5,849 shares during the last quarter. Raymond James & Associates increased its position in shares of Abercrombie & Fitch by 8.2% during the third quarter. Raymond James & Associates now owns 22,464 shares of the apparel retailer’s stock worth $845,000 after acquiring an additional 1,705 shares during the period. Advisor Group Holdings Inc. increased its holdings in Abercrombie & Fitch by 29.5% in the third quarter. Advisor Group Holdings Inc. now owns 5,585 shares of the apparel retailer’s stock valued at $212,000 after buying an additional 1,272 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Abercrombie & Fitch in the third quarter valued at $217,000. Finally, Teacher Retirement System of Texas increased its holdings in Abercrombie & Fitch by 22.6% in the third quarter. Teacher Retirement System of Texas now owns 10,054 shares of the apparel retailer’s stock valued at $378,000 after buying an additional 1,852 shares during the last quarter. Institutional investors own 99.58% of the company’s stock.

Abercrombie & Fitch Company Profile (Get Rating)

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

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

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