Abercrombie & Fitch (NYSE:ANF) Announces Quarterly Earnings Results

Abercrombie & Fitch (NYSE:ANF) posted its quarterly earnings data on Wednesday. The apparel retailer reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.09, Zacks reports. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.57 billion. Abercrombie & Fitch had a net margin of 11.16% and a return on equity of 46.50%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.97 EPS.

Abercrombie & Fitch Stock Performance

Abercrombie & Fitch stock opened at $87.43 on Thursday. Abercrombie & Fitch has a fifty-two week low of $79.77 and a fifty-two week high of $196.99. The firm’s 50-day simple moving average is $123.78 and its 200 day simple moving average is $137.94. The stock has a market cap of $4.40 billion, a PE ratio of 8.65 and a beta of 1.45.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Abercrombie & Fitch from $189.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and upped their price objective for the company from $173.00 to $220.00 in a report on Friday, January 10th. Telsey Advisory Group restated an “outperform” rating and set a $190.00 price objective on shares of Abercrombie & Fitch in a report on Wednesday, February 26th. Jefferies Financial Group reduced their price target on shares of Abercrombie & Fitch from $220.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Raymond James dropped their price objective on shares of Abercrombie & Fitch from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $171.50.

Abercrombie & Fitch declared that its board has authorized a share repurchase plan on Wednesday, March 5th that permits the company to buyback $1.30 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 29.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Abercrombie & Fitch

Abercrombie & Fitch Co engages in the retail of apparel, personal care products, and accessories. The firm operates through following geographical segments: Americas, EMEA and APAC. The Americas segment includes operations in North America and South America. The EMEA segment includes operations in Europe, the Middle East and Africa.