Abercrombie & Fitch Co. Stock Price Up 10.5% on Earnings Beat (ANF)
Abercrombie & Fitch Co. (NYSE:ANF) rose 10.5% during trading on Wednesday following a better than expected earnings announcement, Analyst Ratings News reports. The stock traded as high as $40.13 and last traded at $39.77, with a volume of 9,220,624 shares trading hands. The stock had previously closed at $35.99.
The company reported $1.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.89 by $0.45. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company posted $2.01 earnings per share. Abercrombie & Fitch Co.’s revenue was down 11.6% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, March 18th. Investors of record on Thursday, March 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, March 4th.
ANF has been the subject of a number of recent research reports. Analysts at Brean Capital raised their price target on shares of Abercrombie & Fitch Co. to $50.00 in a research note on Wednesday. Separately, analysts at Susquehanna cut their price target on shares of Abercrombie & Fitch Co. from $46.00 to $44.00 in a research note on Tuesday. They now have a “positive” rating on the stock. Finally, analysts at Zacks upgraded shares of Abercrombie & Fitch Co. from an “underperform” rating to a “neutral” rating in a research note on Thursday, January 30th. They now have a $37.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company’s stock. Abercrombie & Fitch Co. presently has a consensus rating of “Hold” and a consensus target price of $41.04.
The stock has a 50-day moving average of $34.77 and a 200-day moving average of $35.85. The company has a market cap of $3.059 billion and a P/E ratio of 19.33. Abercrombie & Fitch Co. also saw unusually large options trading activity on Tuesday. Traders acquired 30,053 call options on the stock. This represents an increase of 548% compared to the average volume of 4,635 call options.
Abercrombie & Fitch Co (NYSE:ANF), through its subsidiaries, is a specialty retailer of casual apparel for men, women and kids.
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