Children’s Place (NASDAQ:PLCE) Releases FY24 Earnings Guidance

Children’s Place (NASDAQ:PLCE – Get Rating) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.00-1.50 for the period, compared to the consensus estimate of $2.34. The company issued revenue guidance of $1.58-1.59 billion, compared to the consensus revenue estimate of $1.65 billion. Children’s Place also updated its Q2 guidance to ($2.20)-($2.15) EPS.

Children’s Place Stock Performance

NASDAQ:PLCE opened at $18.68 on Thursday. The company’s 50-day moving average price is $31.99 and its 200-day moving average price is $36.89. The company has a current ratio of 0.87, a quick ratio of 0.18 and a debt-to-equity ratio of 0.31. The company has a market cap of $231.63 million, a P/E ratio of -44.48 and a beta of 1.97. Children’s Place has a twelve month low of $17.62 and a twelve month high of $57.00.

Children’s Place (NASDAQ:PLCE – Get Rating) last posted its quarterly earnings results on Thursday, March 16th. The company reported ($3.87) earnings per share for the quarter, topping the consensus estimate of ($4.18) by $0.31. The firm had revenue of $456.10 million for the quarter, compared to the consensus estimate of $455.34 million. Children’s Place had a negative net margin of 0.07% and a negative return on equity of 0.57%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the firm posted $3.02 earnings per share. On average, sell-side analysts forecast that Children’s Place will post 2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLCE has been the topic of several research reports. TheStreet downgraded shares of Children’s Place from a c rating to a d+ rating in a research note on Thursday, March 16th. StockNews.com assumed coverage on shares of Children’s Place in a research note on Thursday, May 18th. They set a hold rating on the stock. B. Riley assumed coverage on shares of Children’s Place in a research note on Thursday, May 11th. They set a buy rating and a $50.00 target price on the stock. Telsey Advisory Group reduced their target price on shares of Children’s Place from $46.00 to $44.00 and set a market perform rating on the stock in a research note on Friday, March 17th. Finally, UBS Group reduced their target price on shares of Children’s Place from $40.00 to $20.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Children’s Place currently has an average rating of Hold and an average target price of $41.00.

Institutional Investors Weigh In On Children’s Place

Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC purchased a new stake in shares of Children’s Place in the 2nd quarter valued at approximately $225,000. Quantbot Technologies LP purchased a new stake in shares of Children’s Place in the 1st quarter valued at approximately $225,000. Raymond James & Associates purchased a new stake in shares of Children’s Place in the 4th quarter valued at approximately $220,000. Royal Bank of Canada grew its holdings in shares of Children’s Place by 17.0% in the first quarter. Royal Bank of Canada now owns 2,667 shares of the company’s stock valued at $132,000 after purchasing an additional 388 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Children’s Place in the third quarter valued at approximately $119,000. 98.73% of the stock is owned by hedge funds and other institutional investors.

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.