Abercrombie & Fitch (NYSE:ANF) Releases Earnings Results, Beats Estimates By $0.19 EPS

Abercrombie & Fitch (NYSE:ANF) issued its earnings results on Tuesday. The apparel retailer reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.19, Briefing.com reports. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Abercrombie & Fitch had a return on equity of 47.35% and a net margin of 10.76%. Abercrombie & Fitch’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. Abercrombie & Fitch updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Abercrombie & Fitch Trading Down 5.0 %

Shares of ANF opened at $146.70 on Wednesday. Abercrombie & Fitch has a 1 year low of $72.98 and a 1 year high of $196.99. The stock has a market cap of $7.49 billion, a P/E ratio of 15.54 and a beta of 1.50. The stock’s 50-day moving average price is $143.13 and its two-hundred day moving average price is $153.46.

Insiders Place Their Bets

In other news, EVP Samir Desai sold 19,041 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $131.36, for a total transaction of $2,501,225.76. Following the sale, the executive vice president now owns 27,985 shares of the company’s stock, valued at $3,676,109.60. This trade represents a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Helen Mccluskey sold 3,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $139.38, for a total value of $487,830.00. Following the sale, the director now directly owns 37,470 shares in the company, valued at approximately $5,222,568.60. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,541 shares of company stock worth $4,310,256. Insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ANF. Telsey Advisory Group reiterated an “outperform” rating and set a $190.00 price objective on shares of Abercrombie & Fitch in a research note on Tuesday. Morgan Stanley dropped their price objective on Abercrombie & Fitch from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. UBS Group increased their price objective on Abercrombie & Fitch from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Jefferies Financial Group increased their price objective on Abercrombie & Fitch from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Abercrombie & Fitch has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

About Abercrombie & Fitch

Abercrombie & Fitch Co, through its subsidiaries, operates as an omnichannel retailer in the United States, Europe, the Middle East, Asia, the Asia-Pacific, Canada, and internationally. The company offers an assortment of apparel, personal care products, and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, Hollister, and Gilly Hicks brands.