Torrid Holdings Inc. to Post Q3 2024 Earnings of ($0.03) Per Share, William Blair Forecasts (NYSE:CURV)

Torrid Holdings Inc. (NYSE:CURV) – Equities research analysts at William Blair reduced their Q3 2024 earnings estimates for shares of Torrid in a report released on Thursday, September 7th. William Blair analyst D. Carden now forecasts that the company will post earnings of ($0.03) per share for the quarter, down from their previous forecast of $0.07. The consensus estimate for Torrid’s current full-year earnings is $0.30 per share. William Blair also issued estimates for Torrid’s Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at $0.07 EPS and FY2025 earnings at $0.18 EPS.

Torrid (NYSE:CURV) last issued its quarterly earnings results on Wednesday, September 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). Torrid had a negative return on equity of 9.83% and a net margin of 1.85%. The business had revenue of $289.14 million for the quarter, compared to the consensus estimate of $286.69 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was down 18.2% compared to the same quarter last year.

Several other equities research analysts have also recently commented on the stock. Robert W. Baird cut shares of Torrid from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $2.50 in a research report on Thursday. The Goldman Sachs Group dropped their target price on shares of Torrid from $3.00 to $2.60 and set a “neutral” rating on the stock in a report on Thursday. Bank of America cut shares of Torrid to an “underperform” rating in a report on Friday. Finally, Telsey Advisory Group dropped their target price on shares of Torrid from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.02.

Torrid Price Performance

Shares of NYSE:CURV opened at $1.52 on Monday. The company’s 50-day moving average price is $2.58 and its two-hundred day moving average price is $2.91. Torrid has a one year low of $1.51 and a one year high of $6.93. The stock has a market capitalization of $158.19 million, a PE ratio of 7.60, a price-to-earnings-growth ratio of 0.48 and a beta of 1.36.

Hedge Funds Weigh In On Torrid

Several institutional investors and hedge funds have recently added to or reduced their stakes in CURV. Gilder Gagnon Howe & Co. LLC lifted its stake in Torrid by 752.9% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 380,729 shares of the company’s stock valued at $1,660,000 after purchasing an additional 336,088 shares during the last quarter. Millennium Management LLC raised its stake in shares of Torrid by 936.2% during the second quarter. Millennium Management LLC now owns 152,452 shares of the company’s stock valued at $659,000 after acquiring an additional 137,740 shares during the last quarter. BlackRock Inc. raised its stake in shares of Torrid by 15.8% during the first quarter. BlackRock Inc. now owns 885,970 shares of the company’s stock valued at $5,369,000 after acquiring an additional 120,915 shares during the last quarter. Citigroup Inc. raised its stake in shares of Torrid by 2,270.7% during the first quarter. Citigroup Inc. now owns 77,284 shares of the company’s stock valued at $469,000 after acquiring an additional 74,024 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Torrid by 134.4% during the fourth quarter. Morgan Stanley now owns 128,489 shares of the company’s stock valued at $380,000 after acquiring an additional 73,664 shares during the last quarter. Institutional investors own 83.34% of the company’s stock.

About Torrid

Torrid Holdings Inc operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid and Torrid Curve brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.