SunTrust Banks Comments on Ascena Retail Group Inc.’s Q1 2017 Earnings (ASNA)
Ascena Retail Group Inc. (NASDAQ:ASNA) – Equities researchers at SunTrust Banks issued their Q1 2017 earnings per share estimates for Ascena Retail Group in a report released on Tuesday. SunTrust Banks analyst P. Quintiliano forecasts that the brokerage will post earnings per share of $0.21 for the quarter. SunTrust Banks also issued estimates for Ascena Retail Group’s Q2 2017 earnings at $0.01 EPS, Q3 2017 earnings at $0.21 EPS, Q4 2017 earnings at $0.17 EPS and FY2018 earnings at $0.87 EPS.
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Ascena Retail Group from a “hold” rating to a “strong sell” rating in a report on Wednesday. FBR & Co reaffirmed a “market perform” rating and set a $15.00 price target (up from $7.00) on shares of Ascena Retail Group in a report on Tuesday. Cowen and Company decreased their price target on Ascena Retail Group from $8.00 to $7.00 and set a “market perform” rating for the company in a report on Tuesday. Oppenheimer Holdings Inc. cut Ascena Retail Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Citigroup Inc. cut their target price on Ascena Retail Group from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.58.
Ascena Retail Group (NASDAQ:ASNA) opened at 5.91 on Wednesday. The company’s 50-day moving average price is $7.86 and its 200-day moving average price is $8.27. The stock’s market cap is $1.13 billion. Ascena Retail Group has a 12-month low of $5.33 and a 12-month high of $14.76.
Ascena Retail Group (NASDAQ:ASNA) last posted its quarterly earnings data on Monday, September 19th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.08. Ascena Retail Group had a negative net margin of 0.17% and a positive return on equity of 6.18%. The business had revenue of $1.81 billion for the quarter. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 54.9% compared to the same quarter last year.
A number of institutional investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC acquired a new position in Ascena Retail Group during the second quarter valued at about $545,000. Royal Bank of Canada boosted its position in Ascena Retail Group by 53.9% in the second quarter. Royal Bank of Canada now owns 1,439,668 shares of the company’s stock valued at $10,064,000 after buying an additional 504,346 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Ascena Retail Group by 30.9% in the second quarter. Public Employees Retirement System of Ohio now owns 24,790 shares of the company’s stock valued at $173,000 after buying an additional 5,845 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Ascena Retail Group by 7.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,013,290 shares of the company’s stock valued at $7,083,000 after buying an additional 73,234 shares during the last quarter. Finally, Amalgamated Bank boosted its position in Ascena Retail Group by 10.9% in the second quarter. Amalgamated Bank now owns 21,240 shares of the company’s stock valued at $161,000 after buying an additional 2,093 shares during the last quarter. Institutional investors own 94.47% of the company’s stock.
Ascena Retail Group Company Profile
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.
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