Children’s Place (NASDAQ:PLCE) Posts Earnings Results, Misses Estimates By $0.23 EPS

Children’s Place (NASDAQ:PLCE – Get Rating) issued its quarterly earnings results on Wednesday. The company reported ($2.00) EPS for the quarter, missing the consensus estimate of ($1.77) by ($0.23), Briefing.com reports. The company had revenue of $321.60 million during the quarter, compared to analysts’ expectations of $338.46 million. Children’s Place had a negative return on equity of 0.57% and a negative net margin of 0.07%. Children’s Place’s revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. Children’s Place updated its Q2 guidance to ($2.20)-($2.15) EPS and its FY24 guidance to $1.00-1.50 EPS.

Children’s Place Price Performance

Children’s Place stock opened at $18.73 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.18 and a debt-to-equity ratio of 0.31. The stock has a market cap of $232.25 million, a P/E ratio of -44.60 and a beta of 1.97. The company has a 50-day moving average price of $31.99 and a 200 day moving average price of $36.89. Children’s Place has a 12-month low of $17.62 and a 12-month high of $57.00.

Analysts Set New Price Targets

PLCE has been the subject of a number of research reports. UBS Group cut their target price on shares of Children’s Place from $40.00 to $20.00 in a research note on Thursday. Telsey Advisory Group decreased their price objective on Children’s Place from $46.00 to $44.00 and set a “market perform” rating on the stock in a report on Friday, March 17th. StockNews.com initiated coverage on shares of Children’s Place in a report on Thursday, May 18th. They set a “hold” rating for the company. TheStreet cut shares of Children’s Place from a “c” rating to a “d+” rating in a research note on Thursday, March 16th. Finally, B. Riley began coverage on shares of Children’s Place in a research note on Thursday, May 11th. They issued a “buy” rating and a $50.00 target price on the stock. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Children’s Place presently has an average rating of “Hold” and a consensus price target of $41.00.

Institutional Trading of Children’s Place

Several hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. acquired a new position in Children’s Place in the fourth quarter valued at approximately $20,294,000. Balyasny Asset Management L.P. acquired a new position in shares of Children’s Place in the 1st quarter valued at $21,312,000. Renaissance Technologies LLC grew its holdings in shares of Children’s Place by 73.5% during the 1st quarter. Renaissance Technologies LLC now owns 348,360 shares of the company’s stock worth $17,174,000 after purchasing an additional 147,600 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Children’s Place during the 1st quarter worth about $5,188,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Children’s Place during the 4th quarter worth about $3,863,000. Hedge funds and other institutional investors own 98.73% of the company’s stock.

Children’s Place Company Profile

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The Children’s Place, Inc engages in the provision of apparel, footwear, accessories, and other items for children. The firm also designs contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Baby Place, and Gymboree. It operates through The Children’s Place U.S.