Ascena Retail Group Inc. (NASDAQ:ASNA) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.60-0.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.83. The company issued revenue guidance of $6.9-7.0 billion, compared to the consensus revenue estimate of $7.13 billion.

Ascena Retail Group Inc. (NASDAQ:ASNA) opened at 5.69 on Wednesday. The firm’s market capitalization is $1.09 billion. The company’s 50-day moving average is $7.96 and its 200-day moving average is $8.31. Ascena Retail Group Inc. has a 52-week low of $5.66 and a 52-week high of $14.76.

Ascena Retail Group (NASDAQ:ASNA) last issued its quarterly earnings results on Monday, September 19th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.08. The business had revenue of $1.81 billion for the quarter. Ascena Retail Group had a positive return on equity of 6.15% and a negative net margin of 5.50%. Ascena Retail Group’s revenue for the quarter was up 54.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. Equities analysts predict that Ascena Retail Group Inc. will post $0.83 earnings per share for the current year.

ASNA has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Ascena Retail Group from a sell rating to a hold rating in a research note on Thursday, May 26th. Telsey Advisory Group restated a market perform rating and issued a $10.00 target price (down previously from $11.00) on shares of Ascena Retail Group in a research note on Wednesday, June 1st. FBR & Co restated an outperform rating and issued a $15.00 target price (down previously from $18.00) on shares of Ascena Retail Group in a research note on Wednesday, June 1st. Oppenheimer Holdings Inc. restated a buy rating on shares of Ascena Retail Group in a research note on Wednesday, June 1st. Finally, Cowen and Company restated a market perform rating and issued a $8.00 target price (down previously from $10.00) on shares of Ascena Retail Group in a research note on Wednesday, June 1st. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $11.58.

Institutional investors have recently made changes to their positions in the stock. BlackRock Advisors LLC increased its position in shares of Ascena Retail Group by 3.4% in the second quarter. BlackRock Advisors LLC now owns 81,315 shares of the company’s stock worth $568,000 after buying an additional 2,667 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of Ascena Retail Group by 7.7% in the second quarter. BlackRock Investment Management LLC now owns 1,131,586 shares of the company’s stock worth $7,910,000 after buying an additional 81,024 shares in the last quarter. BlackRock Inc. increased its position in shares of Ascena Retail Group by 30.6% in the second quarter. BlackRock Inc. now owns 96,189 shares of the company’s stock worth $673,000 after buying an additional 22,524 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Ascena Retail Group by 4.7% in the second quarter. BlackRock Fund Advisors now owns 8,558,540 shares of the company’s stock worth $59,824,000 after buying an additional 380,792 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Ascena Retail Group by 0.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,092,615 shares of the company’s stock worth $35,597,000 after buying an additional 29,892 shares in the last quarter. Institutional investors and hedge funds own 94.47% of the company’s stock.

About Ascena Retail Group

Ascena Retail Group, Inc is a specialty retailer, which offers clothing, shoes and accessories for missy and plus-size women. The Company offers its products under the Ann Taylor, LOFT, Lane Bryant, maurices, dressbarn, Catherines and Justice brands. It operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines.

5 Day Chart for NASDAQ:ASNA

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