Chico's FAS Stock Price Down 2.6% on Disappointing Earnings (CHS)
Chico's FAS (NYSE:CHS) fell 2.6% on Wednesday after the company announced weaker than expected quarterly earnings, AR Network reports. The stock traded as low as $15.11 and last traded at $15.60, with a volume of 3,414,190 shares. The stock had previously closed at $16.02.
The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.06. The company had revenue of $671.10 million for the quarter, compared to the consensus estimate of $677.91 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Maxim Group cut their price target on shares of Chico's FAS from $21.00 to $19.00 in a research note on Tuesday, June 10th. They now have a “buy” rating on the stock. Analysts at TheStreet downgraded shares of Chico's FAS from a “buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $19.60.
The stock’s 50-day moving average is $15.96 and its 200-day moving average is $16.18. The company has a market cap of $2.292 billion and a price-to-earnings ratio of 46.17.
Chico’s FAS, Inc is a specialty retailer of private branded, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items under the Chico’s, White House / Black Market (NYSE:CHS) and Soma Intimates (Soma) brand names.
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