Research Analysts Offer Predictions for Torrid Holdings Inc.’s Q2 2023 Earnings (NYSE:CURV)

Torrid Holdings Inc. (NYSE:CURV – Get Rating) – Equities research analysts at William Blair dropped their Q2 2023 earnings per share estimates for Torrid in a research note issued on Wednesday, June 8th. William Blair analyst D. Carden now forecasts that the company will post earnings per share of $0.29 for the quarter, down from their previous forecast of $0.31. William Blair also issued estimates for Torrid’s Q3 2023 earnings at $0.23 EPS.

Torrid (NYSE:CURV – Get Rating) last announced its quarterly earnings data on Tuesday, June 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Torrid had a negative return on equity of 45.44% and a negative net margin of 1.47%. The company had revenue of $328.40 million during the quarter, compared to analysts’ expectations of $303.97 million. The company’s revenue was up .8% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the company. Telsey Advisory Group reduced their price objective on Torrid from $18.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday. The Goldman Sachs Group dropped their price target on shares of Torrid from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 21st. Zacks Investment Research downgraded shares of Torrid from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley dropped their price target on shares of Torrid from $11.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.86.

Torrid stock opened at $5.68 on Friday. Torrid has a 52 week low of $4.86 and a 52 week high of $33.19. The stock has a 50-day simple moving average of $5.84 and a 200 day simple moving average of $8.48.

A number of institutional investors and hedge funds have recently modified their holdings of CURV. Advisor Group Holdings Inc. bought a new stake in Torrid during the fourth quarter valued at $29,000. UBS Group AG bought a new stake in Torrid during the third quarter valued at $36,000. Point72 Hong Kong Ltd bought a new stake in Torrid during the first quarter valued at $49,000. JPMorgan Chase & Co. boosted its position in Torrid by 76.7% during the first quarter. JPMorgan Chase & Co. now owns 8,640 shares of the company’s stock valued at $52,000 after acquiring an additional 3,750 shares during the last quarter. Finally, American International Group Inc. raised its holdings in shares of Torrid by 34.8% during the first quarter. American International Group Inc. now owns 9,147 shares of the company’s stock valued at $55,000 after purchasing an additional 2,362 shares during the period. 90.86% of the stock is currently owned by institutional investors and hedge funds.

Torrid Company Profile (Get Rating)

Torrid Holdings Inc operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid and Torrid Curve brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.

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