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

Abercrombie & Fitch (NYSE:ANF) announced its 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. 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $1.83 EPS. Abercrombie & Fitch’s revenue for the quarter was up 14.4% compared to the same quarter last year. Abercrombie & Fitch updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Abercrombie & Fitch Trading Down 5.0 %

Abercrombie & Fitch stock opened at $146.70 on Wednesday. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 15.54 and a beta of 1.50. The stock’s 50 day moving average is $143.13 and its 200-day moving average is $153.46. Abercrombie & Fitch has a 12 month low of $72.98 and a 12 month high of $196.99.

Analyst Ratings Changes

A number of research analysts have weighed in on ANF shares. Morgan Stanley decreased their price target 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. JPMorgan Chase & Co. raised their price target on Abercrombie & Fitch from $194.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Citigroup upgraded Abercrombie & Fitch from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Friday, August 30th. Telsey Advisory Group restated an “outperform” rating and issued a $190.00 price target on shares of Abercrombie & Fitch in a research note on Tuesday. Finally, Jefferies Financial Group raised their price target on Abercrombie & Fitch from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Abercrombie & Fitch has an average rating of “Moderate Buy” and an average target price of $177.43.

Insider Activity at Abercrombie & Fitch

In other Abercrombie & Fitch news, Director Helen Mccluskey sold 3,500 shares of the firm’s stock in a transaction 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 in the company, valued at $5,222,568.60. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott D. Lipesky sold 9,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the chief financial officer now owns 106,455 shares of the company’s stock, valued at approximately $15,627,594. The trade was a 7.80 % 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 in the last ninety days. 2.58% of the stock is owned by company insiders.

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.