Fast Retailing (OTCMKTS:FRCOY) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Fast Retailing (OTCMKTS:FRCOY) announced its earnings results on Thursday. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04, Manual reports. The business had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.14 billion.

Fast Retailing Stock Up 13.1%

OTCMKTS:FRCOY opened at $40.89 on Friday. Fast Retailing has a 1 year low of $28.46 and a 1 year high of $40.89. The stock’s 50 day simple moving average is $36.33 and its two-hundred day simple moving average is $33.77.

Wall Street Analyst Weigh In

Separately, Zacks Research cut shares of Fast Retailing from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Fast Retailing currently has an average rating of “Sell”.

About Fast Retailing

Fast Retailing Co, Ltd. is a Japanese retail holding company best known as the parent of Uniqlo, one of the world’s leading casual apparel brands. Headquartered in Yamaguchi Prefecture, Japan, Fast Retailing focuses on the design, manufacture and global distribution of everyday wear for men, women and children. Its core business centers on accessible, high-quality basics that blend functionality with minimalist styling, underpinned by proprietary fabric technologies such as HEATTECH and AIRism.

The company traces its roots to a men’s clothing shop founded by Tadashi Yanai’s family in 1963.