Zacks: Analysts Anticipate Ascena Retail Group, Inc. (ASNA) Will Post Quarterly Sales of $1.60 Billion
Brokerages expect Ascena Retail Group, Inc. (NASDAQ:ASNA) to announce sales of $1.60 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Ascena Retail Group’s earnings, with the lowest sales estimate coming in at $1.57 billion and the highest estimate coming in at $1.62 billion. Ascena Retail Group posted sales of $1.68 billion in the same quarter last year, which would indicate a negative year over year growth rate of 4.8%. The company is scheduled to report its next quarterly earnings report on Thursday, December 7th.
According to Zacks, analysts expect that Ascena Retail Group will report full-year sales of $1.60 billion for the current financial year, with estimates ranging from $6.25 billion to $6.60 billion. For the next fiscal year, analysts expect that the business will report sales of $6.22 billion per share, with estimates ranging from $5.98 billion to $6.66 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Ascena Retail Group.
Ascena Retail Group (NASDAQ:ASNA) last posted its earnings results on Monday, September 25th. The specialty retailer reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.08. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.57 billion. Ascena Retail Group had a positive return on equity of 3.13% and a negative net margin of 16.05%. Ascena Retail Group’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share.
ASNA has been the topic of a number of research reports. Royal Bank Of Canada set a $3.00 price objective on Ascena Retail Group and gave the stock a “hold” rating in a research note on Saturday, October 7th. FBR & Co set a $3.00 target price on Ascena Retail Group and gave the stock a “hold” rating in a report on Tuesday, August 15th. KeyCorp restated a “hold” rating on shares of Ascena Retail Group in a report on Wednesday, October 11th. BidaskClub cut Ascena Retail Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded Ascena Retail Group from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $3.50.
Shares of Ascena Retail Group (ASNA) opened at 1.96 on Friday. The firm’s market cap is $376.30 million. Ascena Retail Group has a 1-year low of $1.65 and a 1-year high of $8.19. The company’s 50 day moving average price is $2.11 and its 200-day moving average price is $2.42.
Hedge funds have recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC purchased a new position in shares of Ascena Retail Group during the second quarter valued at $206,000. BlueCrest Capital Management Ltd grew its holdings in shares of Ascena Retail Group by 196.6% during the first quarter. BlueCrest Capital Management Ltd now owns 36,405 shares of the specialty retailer’s stock valued at $155,000 after buying an additional 24,132 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Ascena Retail Group by 36.6% during the first quarter. Public Employees Retirement System of Ohio now owns 46,164 shares of the specialty retailer’s stock valued at $197,000 after buying an additional 12,362 shares in the last quarter. Peak Capital Management LLC purchased a new position in shares of Ascena Retail Group during the second quarter valued at $108,000. Finally, Virtu KCG Holdings LLC grew its holdings in shares of Ascena Retail Group by 47.8% during the second quarter. Virtu KCG Holdings LLC now owns 67,465 shares of the specialty retailer’s stock valued at $145,000 after buying an additional 21,823 shares in the last quarter. Institutional investors and hedge funds own 95.60% of the company’s stock.
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About Ascena Retail Group
Ascena Retail Group, Inc is a specialty retailer of apparel for women and tween girls. The Company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines. The ANN segment offers feminine classics and fashion choices, sold primarily under the Ann Taylor and LOFT brands.
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