Five Below (NASDAQ:FIVE) Updates FY23 Earnings Guidance

Five Below (NASDAQ:FIVE – Get Rating) updated its FY23 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.85-5.24 for the period, compared to the consensus estimate of $5.48. The company issued revenue guidance of $3.04-3.12 billion, compared to the consensus revenue estimate of $3.21 billion.Five Below also updated its FY 2022 guidance to $4.85-$5.24 EPS.

Shares of FIVE stock traded up $1.32 on Wednesday, reaching $135.37. 2,522,879 shares of the company’s stock traded hands, compared to its average volume of 948,673. The company has a market capitalization of $7.51 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.19 and a beta of 1.32. Five Below has a 12-month low of $110.83 and a 12-month high of $237.86. The business’s 50 day moving average price is $151.47 and its two-hundred day moving average price is $168.04.

Five Below (NASDAQ:FIVE – Get Rating) last released its earnings results on Wednesday, March 30th. The specialty retailer reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.01. The company had revenue of $996.30 million for the quarter, compared to analysts’ expectations of $1.01 billion. Five Below had a return on equity of 27.29% and a net margin of 9.79%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. On average, equities research analysts expect that Five Below will post 5.49 EPS for the current year.

FIVE has been the topic of a number of recent research reports. Citigroup upgraded Five Below from a neutral rating to a buy rating and boosted their target price for the company from $176.00 to $205.00 in a research note on Thursday, March 31st. Truist Financial cut their price objective on shares of Five Below from $205.00 to $155.00 and set a hold rating on the stock in a research report on Thursday, May 19th. JPMorgan Chase & Co. decreased their target price on shares of Five Below from $252.00 to $207.00 and set an overweight rating for the company in a research report on Thursday, March 17th. Berenberg Bank assumed coverage on shares of Five Below in a report on Tuesday, April 19th. They set a hold rating and a $181.00 price target on the stock. Finally, Telsey Advisory Group decreased their price objective on shares of Five Below from $230.00 to $175.00 and set an outperform rating for the company in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Five Below has an average rating of Buy and an average target price of $214.65.

Several large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in Five Below by 93.0% in the first quarter. Canada Pension Plan Investment Board now owns 193 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 93 shares during the period. Covestor Ltd increased its stake in Five Below by 108.6% in the first quarter. Covestor Ltd now owns 582 shares of the specialty retailer’s stock valued at $92,000 after acquiring an additional 303 shares during the period. Private Advisor Group LLC bought a new stake in Five Below in the first quarter valued at about $209,000. Cetera Investment Advisers bought a new stake in Five Below in the fourth quarter valued at about $216,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Five Below by 793.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,563 shares of the specialty retailer’s stock valued at $248,000 after acquiring an additional 1,388 shares during the period. Institutional investors own 99.20% of the company’s stock.

About Five Below (Get Rating)

Five Below, Inc operates as a specialty value retailer in the United States. It offers accessories, including socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, as well as nail polishes, lip glosses, fragrances, and branded cosmetics; and items used to complete and personalize living space, such as glitter lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, accent furniture, and related items, as well as provides storage options for the customers room.

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