Research Analysts Offer Predictions for Abercrombie & Fitch Co.’s Q2 2023 Earnings (NYSE:ANF)

Abercrombie & Fitch Co. (NYSE:ANFGet Rating) – Investment analysts at B. Riley dropped their Q2 2023 earnings per share (EPS) estimates for shares of Abercrombie & Fitch in a report issued on Wednesday, May 25th. B. Riley analyst S. Anderson now expects that the apparel retailer will earn $0.29 per share for the quarter, down from their previous forecast of $1.01. B. Riley currently has a “Buy” rating and a $35.00 target price on the stock. B. Riley also issued estimates for Abercrombie & Fitch’s Q3 2023 earnings at $0.48 EPS, Q4 2023 earnings at $1.76 EPS, FY2023 earnings at $2.20 EPS and FY2024 earnings at $3.20 EPS.

Several other brokerages also recently commented on ANF. TheStreet downgraded shares of Abercrombie & Fitch from a “b” rating to a “c” rating in a report on Tuesday. StockNews.com upgraded shares of Abercrombie & Fitch from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup downgraded shares of Abercrombie & Fitch from a “buy” rating to a “neutral” rating and cut their target price for the company from $59.00 to $30.00 in a research report on Monday. Telsey Advisory Group dropped their target price on Abercrombie & Fitch from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, UBS Group reduced their target price on Abercrombie & Fitch from $34.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.09.

Shares of NYSE ANF opened at $21.85 on Friday. The business’s 50-day simple moving average is $32.42 and its 200-day simple moving average is $35.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.97 and a current ratio of 1.49. Abercrombie & Fitch has a 52 week low of $18.31 and a 52 week high of $48.97. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 5.18 and a beta of 1.40.

Abercrombie & Fitch (NYSE:ANFGet Rating) last posted its quarterly earnings data on Tuesday, May 24th. The apparel retailer reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.29). Abercrombie & Fitch had a return on equity of 29.73% and a net margin of 7.08%. The firm had revenue of $812.80 million during the quarter, compared to analyst estimates of $799.33 million. During the same period in the prior year, the business posted $0.67 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis.

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. boosted its holdings in shares of Abercrombie & Fitch by 29.5% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,585 shares of the apparel retailer’s stock worth $212,000 after buying an additional 1,272 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Abercrombie & Fitch by 22.6% during the 3rd 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. O Shaughnessy Asset Management LLC bought a new position in shares of Abercrombie & Fitch during the 3rd quarter worth $126,000. Citigroup Inc. increased its holdings in Abercrombie & Fitch by 1.1% in the 3rd quarter. Citigroup Inc. now owns 87,700 shares of the apparel retailer’s stock worth $3,300,000 after acquiring an additional 995 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Abercrombie & Fitch by 9.0% in the 3rd quarter. American Century Companies Inc. now owns 232,819 shares of the apparel retailer’s stock valued at $8,761,000 after acquiring an additional 19,314 shares during the period. 99.58% of the stock is owned by institutional investors.

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.

Further Reading

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

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