Abercrombie & Fitch (ANF) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Abercrombie & Fitch Co. (NYSE:ANF) saw unusually-strong trading volume on Thursday following a stronger than expected earnings report. Approximately 27,362,400 shares were traded during mid-day trading, an increase of 870% from the previous session’s volume of 2,822,224 shares.The stock last traded at $20.70 and had previously closed at $17.12.

The apparel retailer reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.13. Abercrombie & Fitch had a net margin of 1.05% and a return on equity of 7.02%. The business had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $856.34 million. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, December 7th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Thursday, December 6th. Abercrombie & Fitch’s payout ratio is presently 123.08%.

A number of brokerages recently weighed in on ANF. Nomura set a $17.00 target price on shares of Abercrombie & Fitch and gave the stock a “hold” rating in a research note on Monday. Deutsche Bank raised shares of Abercrombie & Fitch to a “sell” rating and set a $15.00 target price for the company in a research note on Monday. ValuEngine lowered shares of Abercrombie & Fitch from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. Wedbush reduced their target price on shares of Abercrombie & Fitch from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, October 11th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $16.00 target price on shares of Abercrombie & Fitch in a research note on Thursday, October 11th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. Abercrombie & Fitch has a consensus rating of “Hold” and a consensus price target of $21.37.

Several hedge funds have recently modified their holdings of ANF. Renaissance Technologies LLC raised its holdings in shares of Abercrombie & Fitch by 174.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,924,700 shares of the apparel retailer’s stock valued at $71,597,000 after purchasing an additional 1,858,200 shares during the period. Morgan Stanley raised its holdings in shares of Abercrombie & Fitch by 309.1% in the 3rd quarter. Morgan Stanley now owns 1,609,414 shares of the apparel retailer’s stock valued at $33,991,000 after purchasing an additional 1,215,986 shares during the period. Vanguard Group Inc. raised its holdings in shares of Abercrombie & Fitch by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,232,257 shares of the apparel retailer’s stock valued at $237,225,000 after purchasing an additional 1,119,930 shares during the period. Bank of New York Mellon Corp raised its holdings in Abercrombie & Fitch by 53.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,486,909 shares of the apparel retailer’s stock valued at $52,523,000 after acquiring an additional 865,643 shares during the period. Finally, Tyvor Capital LLC raised its holdings in Abercrombie & Fitch by 520.7% in the 3rd quarter. Tyvor Capital LLC now owns 930,976 shares of the apparel retailer’s stock valued at $19,662,000 after acquiring an additional 780,976 shares during the period.

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 1.50 and a beta of 0.46. The company has a current ratio of 2.25, a quick ratio of 1.43 and a debt-to-equity ratio of 0.26.

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Abercrombie & Fitch Company Profile (NYSE:ANF)

Abercrombie & Fitch Co, through its subsidiaries, operates as a specialty retailer. The Company operates in two segments, Hollister and Abercrombie. It offers apparel, intimates, personal care products, and accessories for men, women, and kids under the Hollister, Abercrombie & Fitch, abercrombie kids, and Gilly Hicks brand names.

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