Children’s Place (NASDAQ:PLCE) Posts Earnings Results

Children’s Place (NASDAQ:PLCE) announced its quarterly earnings results on Thursday. The company reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.49 by ($0.27), MarketWatch Earnings reports. Children’s Place had a negative net margin of 4.75% and a negative return on equity of 47.76%. The company had revenue of $480.20 million for the quarter, compared to analyst estimates of $465.71 million. During the same quarter in the prior year, the business earned $3.33 earnings per share. Children’s Place’s revenue was down 5.7% on a year-over-year basis. Children’s Place updated its Q4 guidance to $0.25-0.45 EPS and its FY 2023 guidance to -$0.59–$0.39 EPS.

Children’s Place Stock Performance

Shares of Children’s Place stock opened at $19.11 on Friday. Children’s Place has a 52-week low of $14.27 and a 52-week high of $48.88. The company has a 50 day moving average of $25.76 and a 200 day moving average of $25.07. The company has a current ratio of 0.85, a quick ratio of 0.15 and a debt-to-equity ratio of 0.42.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its stake in Children’s Place by 568.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 86,495 shares of the company’s stock worth $2,338,000 after acquiring an additional 73,565 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Children’s Place by 1,004.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,946 shares of the company’s stock worth $188,000 after buying an additional 6,317 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Children’s Place by 38.5% during the 3rd quarter. Legal & General Group Plc now owns 9,693 shares of the company’s stock worth $262,000 after buying an additional 2,694 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Children’s Place during the 3rd quarter worth approximately $519,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Children’s Place during the 3rd quarter worth approximately $1,071,000. Hedge funds and other institutional investors own 94.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PLCE shares. StockNews.com upgraded shares of Children’s Place from a “sell” rating to a “hold” rating in a research report on Friday. B. Riley lifted their price objective on shares of Children’s Place from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 18th. Monness Crespi & Hardt dropped their price objective on shares of Children’s Place from $36.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $31.00 price objective on shares of Children’s Place in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Children’s Place presently has an average rating of “Hold” and an average target price of $31.50.

About Children’s Place

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.