Children’s Place (NASDAQ:PLCE) Issues FY 2023 Earnings Guidance

Children’s Place (NASDAQ:PLCE) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of -$0.59–$0.39 for the period, compared to the consensus EPS estimate of $0.90. The company issued revenue guidance of $1.60 billion-$1.61 billion, compared to the consensus revenue estimate of $1.61 billion. Children’s Place also updated its Q4 guidance to $0.25-0.45 EPS.

Children’s Place Stock Performance

Shares of NASDAQ PLCE opened at $21.45 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.15 and a current ratio of 0.82. The company has a market cap of $267.70 million, a P/E ratio of -3.58 and a beta of 2.27. The firm’s fifty day moving average is $25.84 and its two-hundred day moving average is $25.14. Children’s Place has a 52-week low of $14.27 and a 52-week high of $48.88.

Children’s Place (NASDAQ:PLCE) last announced its quarterly earnings results on Thursday, November 16th. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.49 by ($0.27). The company had revenue of $480.20 million during the quarter, compared to the consensus estimate of $465.71 million. Children’s Place had a negative net margin of 4.40% and a negative return on equity of 37.87%. The business’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.33 earnings per share. As a group, analysts anticipate that Children’s Place will post 0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PLCE shares. StockNews.com downgraded shares of Children’s Place from a hold rating to a sell rating in a report on Tuesday, October 24th. B. Riley boosted their target price on shares of Children’s Place from $43.00 to $45.00 and gave the stock a buy rating in a report on Friday, August 18th. Monness Crespi & Hardt reduced their target price on shares of Children’s Place from $36.00 to $30.00 and set a buy rating on the stock in a report on Friday. Finally, Telsey Advisory Group restated a market perform rating and issued a $31.00 target price on shares of Children’s Place in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Children’s Place currently has an average rating of Hold and an average target price of $31.50.

Hedge Funds Weigh In On Children’s Place

A number of large investors have recently made changes to their positions in PLCE. T. Rowe Price Investment Management Inc. purchased a new position in shares of Children’s Place during the 4th quarter worth about $20,294,000. Balyasny Asset Management L.P. purchased a new position in shares of Children’s Place during the 1st quarter worth about $21,312,000. Renaissance Technologies LLC boosted its stake in shares of Children’s Place by 73.5% during the 1st quarter. Renaissance Technologies LLC now owns 348,360 shares of the company’s stock worth $17,174,000 after purchasing an additional 147,600 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Children’s Place during the 1st quarter worth about $5,188,000. Finally, Two Sigma Investments LP purchased a new position in shares of Children’s Place during the 4th quarter worth about $3,863,000. 94.47% of the stock is owned by hedge funds and other institutional investors.

Children’s Place Company Profile

The Children's Place, Inc operates as a children's specialty apparel retailer in North America. It operates through two segments, The Children's Place U.S. and The Children's Place International. The company offers apparel, footwear, accessories, and other items for children and tweens; and designs, contracts to manufacture, and sells merchandise under the proprietary The Children's Place, Place, Baby Place, Gymboree, Sugar & Jade, and PJ Place brand names.