Five Below (NASDAQ:FIVE) Releases Q1 2023 Earnings Guidance

Five Below (NASDAQ:FIVE – Get Rating) issued an update on its first quarter 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.59-$0.65 for the period, compared to the consensus estimate of $0.68. The company issued revenue guidance of $723.00 million-$735.00 million, compared to the consensus revenue estimate of $730.55 million. Five Below also updated its FY 2023 guidance to $5.25-$5.76 EPS.

Five Below Stock Down 1.0 %

Shares of NASDAQ:FIVE opened at $193.40 on Friday. The company’s fifty day moving average is $197.80 and its two-hundred day moving average is $168.10. Five Below has a 12-month low of $109.49 and a 12-month high of $212.56. The company has a market cap of $10.74 billion, a P/E ratio of 41.24, a price-to-earnings-growth ratio of 1.85 and a beta of 1.15.

Five Below (NASDAQ:FIVE – Get Rating) last posted its quarterly earnings results on Wednesday, March 15th. The specialty retailer reported $3.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.07. Five Below had a net margin of 7.81% and a return on equity of 20.11%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $2.49 earnings per share. Five Below’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that Five Below will post 5.62 earnings per share for the current year.

Analyst Ratings Changes

FIVE has been the topic of a number of research reports. UBS Group upped their price target on shares of Five Below from $165.00 to $205.00 and gave the stock a buy rating in a research note on Thursday, December 1st. JPMorgan Chase & Co. dropped their price target on shares of Five Below from $239.00 to $237.00 and set an overweight rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Five Below from $234.00 to $238.00 in a research note on Thursday. William Blair started coverage on shares of Five Below in a report on Wednesday, December 7th. They issued an outperform rating for the company. Finally, Credit Suisse Group started coverage on shares of Five Below in a report on Monday, December 19th. They issued a neutral rating and a $185.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, Five Below currently has an average rating of Moderate Buy and a consensus price target of $207.50.

Insider Activity

In other news, CMO Michael Romanko sold 3,750 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $191.50, for a total transaction of $718,125.00. Following the completion of the transaction, the chief marketing officer now owns 8,901 shares of the company’s stock, valued at $1,704,541.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FIVE. 1832 Asset Management L.P. acquired a new position in Five Below in the fourth quarter worth about $99,794,000. Wasatch Advisors Inc. raised its position in Five Below by 21.4% in the first quarter. Wasatch Advisors Inc. now owns 2,676,533 shares of the specialty retailer’s stock worth $423,883,000 after purchasing an additional 471,349 shares in the last quarter. Morgan Stanley raised its position in Five Below by 37.2% in the fourth quarter. Morgan Stanley now owns 1,058,383 shares of the specialty retailer’s stock worth $187,196,000 after purchasing an additional 286,839 shares in the last quarter. Norges Bank acquired a new position in Five Below in the fourth quarter worth about $50,684,000. Finally, T. Rowe Price Investment Management Inc. raised its position in Five Below by 10.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,730,378 shares of the specialty retailer’s stock worth $482,922,000 after purchasing an additional 259,012 shares in the last quarter.

Five Below Company Profile

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Five Below, Inc operates as a specialty value retailer. It operates through the following segments: Leisure, Fashion and Home, and Party and Snack. The Leisure segment includes items such as sporting goods, games, toys, tech, books, electronic accessories, and arts and crafts. The Fashion and Home segment consists of personal accessories, “attitude“ t-shirts, beauty offerings, home goods, and storage options.