Children’s Place (NASDAQ:PLCE) Posts Quarterly Earnings Results, Misses Estimates By $0.23 EPS

Children’s Place (NASDAQ:PLCE – Get Rating) issued its earnings results on Wednesday. The company reported ($2.00) EPS for the quarter, missing the consensus estimate of ($1.77) by ($0.23), Briefing.com reports. The firm had revenue of $321.60 million during the quarter, compared to analyst estimates of $338.46 million. Children’s Place had a negative return on equity of 0.57% and a negative net margin of 0.07%. Children’s Place’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. Children’s Place updated its Q2 guidance to ($2.20)-($2.15) EPS and its FY24 guidance to $1.00-1.50 EPS.

Children’s Place Stock Down 21.4 %

Shares of Children’s Place stock opened at $18.68 on Thursday. The business’s fifty day moving average price is $31.99 and its two-hundred day moving average price is $36.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.87 and a quick ratio of 0.18. The company has a market capitalization of $231.63 million, a P/E ratio of -44.48 and a beta of 1.97. Children’s Place has a 1-year low of $17.62 and a 1-year high of $57.00.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLCE. UBS Group decreased their target price on Children’s Place from $40.00 to $20.00 in a research report on Thursday. B. Riley assumed coverage on Children’s Place in a report on Thursday, May 11th. They issued a “buy” rating and a $50.00 price target on the stock. TheStreet downgraded Children’s Place from a “c” rating to a “d+” rating in a report on Thursday, March 16th. Telsey Advisory Group cut their price target on Children’s Place from $46.00 to $44.00 and set a “market perform” rating on the stock in a report on Friday, March 17th. Finally, StockNews.com assumed coverage on Children’s Place in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Institutional Trading of Children’s Place

Hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC bought a new stake in Children’s Place during the 2nd quarter valued at $225,000. Quantbot Technologies LP bought a new stake in shares of Children’s Place in the 1st quarter worth $225,000. Raymond James & Associates bought a new stake in shares of Children’s Place in the 4th quarter worth $220,000. Royal Bank of Canada raised its stake in shares of Children’s Place by 17.0% in the 1st quarter. Royal Bank of Canada now owns 2,667 shares of the company’s stock worth $132,000 after buying an additional 388 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in shares of Children’s Place in the 3rd quarter worth $119,000. Institutional investors own 98.73% of the company’s stock.

Children’s Place Company Profile

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The Children’s Place, Inc engages in the provision of apparel, footwear, accessories, and other items for children. The firm 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. It operates through The Children’s Place U.S.