Childrens Place Inc to Post FY2020 Earnings of $10.12 Per Share, Wedbush Forecasts (PLCE)
Childrens Place Inc (NASDAQ:PLCE) – Analysts at Wedbush lifted their FY2020 earnings per share (EPS) estimates for Childrens Place in a note issued to investors on Wednesday, October 10th. Wedbush analyst J. Redding now expects that the company will earn $10.12 per share for the year, up from their previous estimate of $10.05. Wedbush currently has a “Outperform” rating and a $150.00 target price on the stock. Wedbush also issued estimates for Childrens Place’s FY2021 earnings at $12.24 EPS.
PLCE has been the topic of several other research reports. BidaskClub upgraded Childrens Place from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine lowered Childrens Place from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Bank of America upgraded Childrens Place from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 2nd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Childrens Place presently has an average rating of “Buy” and a consensus target price of $148.91.
Childrens Place (NASDAQ:PLCE) last announced its earnings results on Thursday, August 23rd. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.59 by $0.11. Childrens Place had a return on equity of 33.17% and a net margin of 3.76%. The company had revenue of $448.70 million for the quarter, compared to analyst estimates of $427.89 million. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year.
Large investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new position in Childrens Place in the second quarter worth approximately $110,000. Point72 Hong Kong Ltd purchased a new stake in shares of Childrens Place in the second quarter worth approximately $138,000. BKS Advisors LLC purchased a new stake in shares of Childrens Place in the second quarter worth approximately $242,000. Cim Investment Mangement Inc. purchased a new stake in shares of Childrens Place in the second quarter worth approximately $260,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Childrens Place in the second quarter worth approximately $272,000.
In other Childrens Place news, insider Jane T. Elfers sold 100,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $134.93, for a total value of $13,493,000.00. Following the transaction, the insider now owns 141,491 shares in the company, valued at $19,091,380.63. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.
The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Wednesday, September 5th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 4th. This represents a $2.00 annualized dividend and a yield of 1.49%. Childrens Place’s payout ratio is currently 25.28%.
About Childrens Place
The Children’s Place, Inc engages in the provision of apparel, accessories and footwear for children. It also designs, contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Place and Baby Place. The company was founded in 1969 and is headquartered in Secaucus, NJ.
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