Chico’s FAS (NYSE:CHS) Updates Q2 2022 Earnings Guidance

Posted by on Jun 7th, 2022

Chico’s FAS (NYSE:CHS – Get Rating) updated its second quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.21-$0.26 for the period, compared to the consensus earnings per share estimate of $0.19. The company issued revenue guidance of $535.00 million-$550.00 million, compared to the consensus revenue estimate of $534.00 million.Chico’s FAS also updated its FY 2022 guidance to $0.64-$0.74 EPS.

CHS stock opened at $5.09 on Tuesday. Chico’s FAS has a 52 week low of $3.80 and a 52 week high of $7.29. The company has a quick ratio of 0.35, a current ratio of 1.01 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $4.95 and a two-hundred day simple moving average of $4.92. The firm has a market capitalization of $636.96 million, a P/E ratio of 13.16 and a beta of 1.33.

A number of analysts recently commented on the stock. B. Riley lowered their target price on shares of Chico’s FAS from $6.00 to $5.00 in a research note on Wednesday, March 2nd. Zacks Investment Research cut shares of Chico’s FAS from a strong-buy rating to a hold rating in a research note on Tuesday, May 3rd. Finally, StockNews.com cut shares of Chico’s FAS from a strong-buy rating to a buy rating in a research report on Friday, May 20th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $5.58.

In related news, insider Bonnie R. Brooks sold 200,000 shares of Chico’s FAS stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $4.28, for a total transaction of $856,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Credit Suisse AG lifted its holdings in shares of Chico’s FAS by 32.3% in the fourth quarter. Credit Suisse AG now owns 36,321 shares of the specialty retailer’s stock valued at $196,000 after buying an additional 8,859 shares during the period. Bank of Montreal Can lifted its holdings in shares of Chico’s FAS by 8.7% in the first quarter. Bank of Montreal Can now owns 34,843 shares of the specialty retailer’s stock valued at $172,000 after buying an additional 2,784 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in shares of Chico’s FAS by 11.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 31,574 shares of the specialty retailer’s stock valued at $170,000 after buying an additional 3,138 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Chico’s FAS by 78.9% in the first quarter. Hsbc Holdings PLC now owns 31,152 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 13,736 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Chico’s FAS by 199.2% in the third quarter. Royal Bank of Canada now owns 30,694 shares of the specialty retailer’s stock valued at $137,000 after buying an additional 20,436 shares during the period. Institutional investors and hedge funds own 80.88% of the company’s stock.

About Chico’s FAS (Get Rating)

Chico's FAS, Inc operates as an omnichannel specialty retailer of women's private branded casual-to-dressy clothing, intimates, and complementary accessories. It operates under the Chico's, White House Black Market (WHBM)and Soma brands. The Chico's brand primarily sells private branded clothing focusing on women with moderate to high household income levels.

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