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

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

Abercrombie & Fitch Stock Performance

Shares of NYSE:ANF opened at $148.59 on Thursday. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 15.74 and a beta of 1.50. The business has a 50-day simple moving average of $143.37 and a two-hundred day simple moving average of $153.58. Abercrombie & Fitch has a fifty-two week low of $74.68 and a fifty-two week high of $196.99.

Insider Activity

In other Abercrombie & Fitch news, CFO Scott D. Lipesky sold 9,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the chief financial officer now owns 106,455 shares of the company’s stock, valued at approximately $15,627,594. This represents a 7.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the director now directly owns 37,470 shares in the company, valued at $5,222,568.60. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,541 shares of company stock valued at $4,310,256 in the last 90 days. 2.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ANF has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group boosted their target price on Abercrombie & Fitch from $170.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday. Telsey Advisory Group restated an “outperform” rating and set a $190.00 price target on shares of Abercrombie & Fitch in a report on Tuesday. Citigroup raised Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a research report on Friday, August 30th. Finally, Morgan Stanley increased their price objective on shares of Abercrombie & Fitch from $147.00 to $149.00 and gave the company an “equal weight” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $178.14.

Abercrombie & Fitch Company Profile

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.