Torrid (NYSE:CURV) Issues Quarterly Earnings Results

Torrid (NYSE:CURV) announced its earnings results on Wednesday. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 1.05% and a negative return on equity of 5.79%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. Torrid updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Torrid Stock Down 5.4 %

NYSE:CURV opened at $6.33 on Friday. Torrid has a fifty-two week low of $1.21 and a fifty-two week high of $9.14. The stock has a market cap of $660.54 million, a PE ratio of 57.55 and a beta of 2.05. The firm’s fifty day simple moving average is $7.49 and its 200-day simple moving average is $6.06.

Analysts Set New Price Targets

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

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, 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.