Abercrombie & Fitch (ANF) Trading Up 20.4% After Earnings Beat

Abercrombie & Fitch Co. (NYSE:ANF) shares were up 20.4% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $26.38 and last traded at $25.70. Approximately 20,615,254 shares changed hands during trading, an increase of 769% from the average daily volume of 2,371,382 shares. The stock had previously closed at $21.35.

The apparel retailer reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.20. Abercrombie & Fitch had a return on equity of 7.23% and a net margin of 1.43%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, March 18th. Shareholders of record on Friday, March 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, March 7th. Abercrombie & Fitch’s dividend payout ratio (DPR) is 123.08%.

Several brokerages have recently issued reports on ANF. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price objective (up from $20.00) on shares of Abercrombie & Fitch in a research note on Friday, November 30th. Deutsche Bank raised Abercrombie & Fitch to a “sell” rating and set a $15.00 price objective on the stock in a report on Monday, November 26th. Nomura set a $17.00 price objective on Abercrombie & Fitch and gave the stock a “hold” rating in a report on Monday, November 26th. ValuEngine raised Abercrombie & Fitch from a “sell” rating to a “hold” rating in a report on Friday, November 30th. Finally, TheStreet raised Abercrombie & Fitch from a “c+” rating to a “b-” rating in a report on Friday, January 25th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Abercrombie & Fitch has an average rating of “Hold” and an average target price of $21.23.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund purchased a new position in shares of Abercrombie & Fitch during the fourth quarter worth about $25,000. Quantamental Technologies LLC acquired a new stake in Abercrombie & Fitch in the fourth quarter valued at about $72,000. PNC Financial Services Group Inc. lifted its position in Abercrombie & Fitch by 8.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,197 shares of the apparel retailer’s stock valued at $204,000 after purchasing an additional 763 shares during the period. SG Americas Securities LLC lifted its position in Abercrombie & Fitch by 44.3% in the fourth quarter. SG Americas Securities LLC now owns 11,385 shares of the apparel retailer’s stock valued at $228,000 after purchasing an additional 3,496 shares during the period. Finally, LMR Partners LLP acquired a new stake in Abercrombie & Fitch in the fourth quarter valued at about $230,000.

The company has a current ratio of 2.19, a quick ratio of 1.22 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.36 billion, a P/E ratio of 39.54, a PEG ratio of 1.36 and a beta of 0.62.

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About Abercrombie & Fitch (NYSE:ANF)

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, intimates, personal care products, and accessories for men, women, and kids under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brand names.

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