Abercrombie & Fitch (NYSE:ANF) Releases Earnings Results, Beats Expectations By $0.19 EPS

Abercrombie & Fitch (NYSE:ANF) posted its quarterly earnings data on Tuesday. The apparel retailer reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.19, Briefing.com reports. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm posted $1.83 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Abercrombie & Fitch updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Abercrombie & Fitch Stock Up 1.3 %

Shares of NYSE ANF opened at $148.56 on Friday. The firm’s 50-day moving average price is $143.64 and its 200-day moving average price is $153.55. Abercrombie & Fitch has a 52-week low of $74.68 and a 52-week high of $196.99. The company has a market cap of $7.59 billion, a PE ratio of 14.69 and a beta of 1.50.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Friday, August 30th. JPMorgan Chase & Co. boosted their price objective on shares of Abercrombie & Fitch from $194.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Telsey Advisory Group restated an “outperform” rating and issued a $190.00 price objective on shares of Abercrombie & Fitch in a report on Tuesday. Morgan Stanley boosted their price target on Abercrombie & Fitch from $147.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Jefferies Financial Group raised their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.14.

Insider Activity at Abercrombie & Fitch

In related news, EVP Samir Desai sold 19,041 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the completion of the sale, the executive vice president now owns 27,985 shares in the company, valued at approximately $3,676,109.60. This represents a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Helen Mccluskey sold 3,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $139.38, for a total value of $487,830.00. Following the completion of the transaction, the director now directly owns 37,470 shares in the company, valued at $5,222,568.60. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is owned by insiders.

Abercrombie & Fitch Company Profile

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.