Children’s Place (NASDAQ:PLCE) Releases Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Posted by ABMN Staff on Mar 18th, 2023

Children’s Place (NASDAQ:PLCE – Get Rating) issued its quarterly earnings data on Thursday. The company reported ($3.87) earnings per share for the quarter, beating the consensus estimate of ($4.18) by $0.31, Briefing.com reports. Children’s Place had a net margin of 5.02% and a return on equity of 43.35%. The company had revenue of $456.10 million for the quarter, compared to analyst estimates of $455.34 million. During the same period in the prior year, the firm earned $3.02 earnings per share. The company’s revenue was down 10.2% on a year-over-year basis.

Children’s Place Trading Down 1.4 %

Shares of Children’s Place stock opened at $38.05 on Friday. The company has a market capitalization of $465.35 million, a price-to-earnings ratio of 5.98 and a beta of 2.00. The company has a quick ratio of 0.17, a current ratio of 0.97 and a debt-to-equity ratio of 0.23. Children’s Place has a 12-month low of $29.20 and a 12-month high of $57.00. The firm’s 50-day moving average price is $42.08 and its two-hundred day moving average price is $39.08.

Analysts Set New Price Targets

PLCE has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Children’s Place in a research report on Thursday. They set a “hold” rating on the stock. Monness Crespi & Hardt lowered their price target on shares of Children’s Place to $50.00 in a research report on Monday, November 21st. Telsey Advisory Group lowered their price target on shares of Children’s Place from $46.00 to $44.00 and set a “market perform” rating on the stock in a research report on Friday. Finally, TheStreet lowered shares of Children’s Place from a “c” rating to a “d+” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.40.

Institutional Investors Weigh In On Children’s Place

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in Children’s Place by 0.5% during the first quarter. BlackRock Inc. now owns 2,127,269 shares of the company’s stock worth $104,875,000 after buying an additional 9,551 shares in the last quarter. Vanguard Group Inc. grew its stake in Children’s Place by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,337,072 shares of the company’s stock worth $65,918,000 after buying an additional 17,346 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Children’s Place by 4.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 636,800 shares of the company’s stock valued at $19,689,000 after purchasing an additional 28,620 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Children’s Place in the 4th quarter valued at approximately $20,294,000. Finally, State Street Corp boosted its stake in shares of Children’s Place by 5.2% in the 2nd quarter. State Street Corp now owns 537,366 shares of the company’s stock valued at $20,914,000 after purchasing an additional 26,681 shares in the last quarter. 98.73% of the stock is currently owned by institutional investors and hedge funds.

About Children’s Place

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The Children’s Place, Inc provides apparel, footwear, accessories, and other items for children. It also designs, contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Baby Place, and Gymboree. The firm operates through the following segments: Children’s Place U.S.