KeyCorp Weighs in on Ascena Retail Group Inc.’s Q4 2017 Earnings (ASNA)
Ascena Retail Group Inc. (NASDAQ:ASNA) – Research analysts at KeyCorp cut their Q4 2017 earnings estimates for shares of Ascena Retail Group in a note issued to investors on Monday. KeyCorp analyst E. Yruma now expects that the brokerage will earn $0.20 per share for the quarter, down from their prior estimate of $0.21.
Other equities analysts have also recently issued reports about the company. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Ascena Retail Group in a report on Wednesday, June 1st. Zacks Investment Research upgraded Ascena Retail Group from a “sell” rating to a “hold” rating in a report on Thursday, May 26th. Cowen and Company restated a “market perform” rating and issued a $8.00 target price (down from $10.00) on shares of Ascena Retail Group in a report on Wednesday, June 1st. Telsey Advisory Group lowered their price target on Ascena Retail Group from $9.00 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday. Finally, FBR & Co downgraded Ascena Retail Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $15.00 to $7.00 in a report on Tuesday. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.58.
Ascena Retail Group (NASDAQ:ASNA) traded down 2.11% during midday trading on Wednesday, hitting $5.57. The stock had a trading volume of 13,044,086 shares. Ascena Retail Group has a 12-month low of $5.33 and a 12-month high of $14.76. The company’s 50-day moving average price is $7.96 and its 200 day moving average price is $8.31. The stock’s market cap is $1.07 billion.
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Ascena Retail Group (NASDAQ:ASNA) last posted its earnings results on Monday, September 19th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.08. Ascena Retail Group had a negative net margin of 0.17% and a positive return on equity of 6.20%. The company earned $1.81 billion during the quarter. During the same period in the prior year, the business posted $0.06 EPS. The business’s quarterly revenue was up 54.9% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the company. Mason Street Advisors LLC bought a new stake in shares of Ascena Retail Group during the second quarter worth $545,000. Royal Bank of Canada boosted its stake in shares of Ascena Retail Group by 53.9% in the second quarter. Royal Bank of Canada now owns 1,439,668 shares of the company’s stock worth $10,064,000 after buying an additional 504,346 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Ascena Retail Group by 30.9% in the second quarter. Public Employees Retirement System of Ohio now owns 24,790 shares of the company’s stock worth $173,000 after buying an additional 5,845 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Ascena Retail Group by 7.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,013,290 shares of the company’s stock worth $7,083,000 after buying an additional 73,234 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Ascena Retail Group by 10.9% in the second quarter. Amalgamated Bank now owns 21,240 shares of the company’s stock worth $161,000 after buying an additional 2,093 shares in the last quarter. 94.47% of the stock is owned by institutional investors.
Ascena Retail Group Company Profile
Ascena Retail Group, Inc is a specialty retailer, which offers clothing, shoes and accessories for missy and plus-size women. The Company offers its products under the Ann Taylor, LOFT, Lane Bryant, maurices, dressbarn, Catherines and Justice brands. It operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines.
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