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

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

Abercrombie & Fitch Stock Performance

Shares of ANF opened at $148.59 on Thursday. The stock has a market capitalization of $7.59 billion, a PE ratio of 15.74 and a beta of 1.50. The company’s fifty day moving average is $143.37 and its 200 day moving average is $153.58. Abercrombie & Fitch has a fifty-two week low of $74.68 and a fifty-two week high of $196.99.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ANF shares. JPMorgan Chase & Co. boosted their price objective on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Morgan Stanley upped their price target on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup upgraded shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Friday, August 30th. UBS Group upped their target price on shares of Abercrombie & Fitch from $170.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $190.00 price target on shares of Abercrombie & Fitch in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.14.

Insider Buying and Selling at Abercrombie & Fitch

In other news, Director Helen Mccluskey sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $139.38, for a total transaction of $487,830.00. Following the transaction, the director now owns 37,470 shares of the company’s stock, valued at approximately $5,222,568.60. The trade was a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Samir Desai sold 19,041 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $131.36, for a total value of $2,501,225.76. Following the completion of the sale, the executive vice president now owns 27,985 shares of the company’s stock, valued at approximately $3,676,109.60. This represents a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,541 shares of company stock worth $4,310,256 over the last 90 days. 2.58% of the stock is owned by insiders.

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.