Analysts Offer Predictions for Chico’s FAS, Inc.’s Q3 2023 Earnings (NYSE:CHS)

Chico’s FAS, Inc. (NYSE:CHSGet Rating) – Telsey Advisory Group lowered their Q3 2023 earnings estimates for shares of Chico’s FAS in a report issued on Wednesday, June 8th. Telsey Advisory Group analyst D. Telsey now anticipates that the specialty retailer will earn $0.11 per share for the quarter, down from their prior forecast of $0.13. Telsey Advisory Group also issued estimates for Chico’s FAS’s Q4 2023 earnings at $0.07 EPS and Q4 2024 earnings at $0.10 EPS.

A number of other analysts also recently commented on CHS. B. Riley dropped their target price on shares of Chico’s FAS from $6.00 to $5.00 in a report on Wednesday, March 2nd. Zacks Investment Research raised shares of Chico’s FAS from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Thursday. Finally, StockNews.com cut shares of Chico’s FAS from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 20th.

CHS stock opened at $5.51 on Friday. Chico’s FAS has a 52 week low of $3.80 and a 52 week high of $7.29. The company has a market capitalization of $689.52 million, a price-to-earnings ratio of 7.55 and a beta of 1.33. The firm’s 50-day moving average is $4.97 and its two-hundred day moving average is $4.91. The company has a current ratio of 1.10, a quick ratio of 0.35 and a debt-to-equity ratio of 0.39.

Chico’s FAS (NYSE:CHSGet Rating) last posted its quarterly earnings results on Tuesday, June 7th. The specialty retailer reported $0.28 EPS for the quarter, beating the consensus estimate of $0.10 by $0.18. Chico’s FAS had a net margin of 4.59% and a return on equity of 43.27%. During the same period last year, the firm posted ($0.08) earnings per share.

In other news, insider Bonnie R. Brooks sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $5.12, for a total value of $512,000.00. Following the sale, the insider now owns 1,285,277 shares of the company’s stock, valued at approximately $6,580,618.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bonnie R. Brooks sold 200,000 shares of the stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $4.28, for a total transaction of $856,000.00. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CHS. Moors & Cabot Inc. bought a new position in shares of Chico’s FAS in the third quarter valued at $205,000. Point72 Hong Kong Ltd raised its stake in Chico’s FAS by 333.0% in the first quarter. Point72 Hong Kong Ltd now owns 8,309 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 6,390 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in Chico’s FAS in the first quarter valued at about $48,000. Royal Bank of Canada raised its stake in Chico’s FAS by 191.4% in the second 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 in the last quarter. Finally, Virtu Financial LLC acquired a new position in Chico’s FAS in the fourth quarter valued at about $60,000. Hedge funds and other institutional investors own 80.88% 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.

See Also

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

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