Childrens Place Stock Price Up 5.4% on Better-Than-Expected Earnings (PLCE)
Childrens Place (NASDAQ:PLCE) rose 5.4% on Thursday following a better than expected earnings announcement, StockRatingsNetwork reports. The company traded as high as $53.85 and last traded at $53.15, with a volume of 822,599 shares traded. The stock had previously closed at $50.45.
The company reported ($0.37) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.45) by $0.08. The company had revenue of $384.60 million for the quarter, compared to the consensus estimate of $378.63 million. During the same quarter last year, the company posted ($0.42) earnings per share. Childrens Place’s revenue was up .6% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.1325 per share. This represents a $0.53 annualized dividend and a dividend yield of 1.05%.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Childrens Place in a research note on Monday. They now have a $52.00 price target on the stock, down previously from $54.00. Separately, analysts at Maxim Group reiterated a “buy” rating on shares of Childrens Place in a research note on Wednesday, June 18th. Finally, analysts at CRT Capital initiated coverage on shares of Childrens Place in a research note on Thursday, June 12th. They set a “fair value” rating and a $52.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Childrens Place currently has a consensus rating of “Buy” and an average target price of $54.64.
The stock has a 50-day moving average of $49.5 and a 200-day moving average of $49.86. The company has a market cap of $1.172 billion and a P/E ratio of 24.12.
Childrens Place Inc(NASDAQ:PLCE), formerly The Children’s Place Retail Stores, Inc, is a pure-play children’s specialty apparel retailer in North America.
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