Abercrombie & Fitch (NYSE:ANF) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Abercrombie & Fitch (NYSE:ANFGet Rating) announced its earnings results on Tuesday. The apparel retailer reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.14, Briefing.com reports. Abercrombie & Fitch had a net margin of 2.16% and a return on equity of 11.57%. The firm had revenue of $880.10 million during the quarter, compared to the consensus estimate of $831.17 million. During the same quarter in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Abercrombie & Fitch updated its FY 2022 guidance to EPS and its Q4 2022 guidance to EPS.

Abercrombie & Fitch Stock Down 0.8 %

ANF opened at $18.63 on Tuesday. The firm has a 50 day moving average price of $16.81 and a 200 day moving average price of $18.92. The company has a market cap of $921.25 million, a PE ratio of 15.02 and a beta of 1.37. Abercrombie & Fitch has a 1 year low of $14.02 and a 1 year high of $47.55. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.58 and a current ratio of 1.32.

Institutional Trading of Abercrombie & Fitch

Institutional investors and hedge funds have recently bought and sold shares of the business. Balyasny Asset Management LLC raised its holdings in shares of Abercrombie & Fitch by 48.4% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,811,477 shares of the apparel retailer’s stock valued at $28,168,000 after buying an additional 590,747 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Abercrombie & Fitch by 13.4% during the third quarter. Public Employees Retirement System of Ohio now owns 6,851 shares of the apparel retailer’s stock worth $107,000 after purchasing an additional 810 shares in the last quarter. Algert Global LLC boosted its stake in shares of Abercrombie & Fitch by 174.7% in the third quarter. Algert Global LLC now owns 37,875 shares of the apparel retailer’s stock valued at $589,000 after purchasing an additional 24,085 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Abercrombie & Fitch by 5.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 52,148 shares of the apparel retailer’s stock worth $811,000 after buying an additional 2,617 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Abercrombie & Fitch by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 618,292 shares of the apparel retailer’s stock worth $9,615,000 after buying an additional 7,928 shares in the last quarter. Institutional investors and hedge funds own 95.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ANF shares. Telsey Advisory Group dropped their price objective on shares of Abercrombie & Fitch from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, August 26th. Morgan Stanley dropped their price objective on shares of Abercrombie & Fitch from $17.00 to $15.00 and set an “underweight” rating for the company in a research note on Tuesday, August 30th. JPMorgan Chase & Co. dropped their price objective on shares of Abercrombie & Fitch from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, October 31st. StockNews.com started coverage on shares of Abercrombie & Fitch in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Citigroup dropped their price objective on shares of Abercrombie & Fitch from $21.00 to $19.00 in a research note on Wednesday, August 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.17.

About Abercrombie & Fitch

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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 for Abercrombie & Fitch (NYSE:ANF)

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