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

Children’s Place (NASDAQ:PLCEGet 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), 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, 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

(Get Rating)

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.

Featured Stories

Earnings History for Children's Place (NASDAQ:PLCE)

Receive News & Ratings for Children's Place Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Children's Place and related companies with's FREE daily email newsletter.