Children’s Place (NASDAQ:PLCE) Releases Q2 2023 Earnings Guidance

Children’s Place (NASDAQ:PLCE – Get Rating) updated its second quarter 2023 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of -$2.20–$2.15 for the period, compared to the consensus estimate of -$1.56. The company issued revenue guidance of $340.00 million-$345.00 million, compared to the consensus revenue estimate of $358.28 million. Children’s Place also updated its FY 2023 guidance to $1.00-$1.50 EPS.

Children’s Place Stock Performance

Children’s Place stock opened at $17.34 on Friday. The company’s 50-day moving average price is $31.56 and its 200-day moving average price is $36.75. Children’s Place has a twelve month low of $16.88 and a twelve month high of $57.00. The company has a quick ratio of 0.18, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The company has a market cap of $215.02 million, a PE ratio of -4.15 and a beta of 1.97.

Children’s Place (NASDAQ:PLCE – Get Rating) last posted its earnings results on Wednesday, May 24th. The company reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($0.23). Children’s Place had a negative return on equity of 23.70% and a negative net margin of 2.99%. The business had revenue of $321.60 million during the quarter, compared to the consensus estimate of $338.46 million. During the same quarter last year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was down 11.3% on a year-over-year basis. On average, equities research analysts forecast that Children’s Place will post 2.44 EPS for the current fiscal year.

Analyst Ratings Changes

PLCE has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Children’s Place in a research note on Thursday, May 18th. They set a hold rating for the company. B. Riley initiated coverage on shares of Children’s Place in a research note on Thursday, May 11th. They set a buy rating and a $50.00 price target for the company. UBS Group dropped their price target on shares of Children’s Place from $40.00 to $20.00 in a research note on Thursday. TheStreet cut shares of Children’s Place from a c rating to a d+ rating in a research note on Thursday, March 16th. Finally, Telsey Advisory Group lowered their price objective on shares of Children’s Place from $46.00 to $44.00 and set a market perform rating for the company in a research report on Friday, March 17th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Children’s Place currently has a consensus rating of Hold and an average target price of $41.00.

Institutional Investors Weigh In On Children’s Place

Several large investors have recently added to or reduced their stakes in PLCE. State of Wyoming lifted its position in shares of Children’s Place by 45.7% in the 4th quarter. State of Wyoming now owns 858 shares of the company’s stock worth $31,000 after purchasing an additional 269 shares during the period. Western Standard LLC purchased a new stake in shares of Children’s Place in the 4th quarter worth approximately $40,000. PNC Financial Services Group Inc. lifted its position in shares of Children’s Place by 51.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,171 shares of the company’s stock worth $43,000 after purchasing an additional 399 shares during the period. Captrust Financial Advisors lifted its position in shares of Children’s Place by 25.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,114 shares of the company’s stock worth $43,000 after purchasing an additional 226 shares during the period. Finally, Alpha Paradigm Partners LLC purchased a new stake in shares of Children’s Place in the 3rd quarter worth approximately $49,000. 98.73% of the stock is owned by hedge funds and other institutional investors.

About Children’s Place

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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.