Torrid (NYSE:CURV) Announces Earnings Results

Torrid (NYSE:CURV) announced its earnings results on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01, Briefing.com reports. The business had revenue of $284.60 million for the quarter, compared to analysts’ expectations of $282.87 million. Torrid had a negative return on equity of 5.79% and a net margin of 1.05%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. Torrid updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Torrid Price Performance

Shares of CURV stock opened at $6.33 on Friday. The stock’s fifty day moving average price is $7.49 and its 200 day moving average price is $6.06. Torrid has a 1-year low of $1.21 and a 1-year high of $9.14. The company has a market cap of $660.54 million, a price-to-earnings ratio of 57.55 and a beta of 2.05.

Analyst Ratings Changes

A number of brokerages recently weighed in on CURV. Telsey Advisory Group reaffirmed a “market perform” rating and set a $8.00 price objective on shares of Torrid in a research report on Wednesday. Morgan Stanley lowered shares of Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Torrid has a consensus rating of “Hold” and a consensus target price of $4.96.

Torrid Company Profile

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, Torrid Curve, CURV, and Lovesick 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.