Children’s Place (NASDAQ:PLCE) Announces Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Children’s Place (NASDAQ:PLCE) issued its quarterly earnings data on Friday. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.24), FiscalAI reports. The company had revenue of $329.23 million for the quarter, compared to the consensus estimate of $366.60 million.

Children’s Place Trading Up 10.3%

Shares of NASDAQ:PLCE traded up $0.37 on Friday, hitting $3.97. 2,059,688 shares of the company were exchanged, compared to its average volume of 300,212. Children’s Place has a 1-year low of $2.95 and a 1-year high of $9.56. The stock’s 50 day moving average price is $3.81 and its 200 day moving average price is $5.56. The firm has a market capitalization of $88.01 million, a P/E ratio of -1.52 and a beta of 2.01.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLCE. UBS Group restated a “neutral” rating on shares of Children’s Place in a research note on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Children’s Place in a research note on Friday, January 9th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $4.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in Children’s Place by 8.5% during the fourth quarter. Invesco Ltd. now owns 68,004 shares of the company’s stock valued at $271,000 after purchasing an additional 5,313 shares during the period. Murchinson Ltd. lifted its position in Children’s Place by 96.9% during the second quarter. Murchinson Ltd. now owns 59,983 shares of the company’s stock valued at $266,000 after purchasing an additional 29,527 shares during the period. Virtu Financial LLC acquired a new position in Children’s Place during the fourth quarter valued at $208,000. Oxford Asset Management LLP acquired a new position in Children’s Place during the second quarter valued at $178,000. Finally, Bank of America Corp DE lifted its position in Children’s Place by 372.8% during the second quarter. Bank of America Corp DE now owns 39,897 shares of the company’s stock valued at $177,000 after purchasing an additional 31,458 shares during the period.

Children’s Place Company Profile

The Children’s Place, Inc (NASDAQ: PLCE) is a leading specialty retailer of children’s apparel, footwear and accessories, operating an omnichannel platform that serves families across North America. Headquartered in Secaucus, New Jersey, the company combines an extensive network of brick-and-mortar stores with a full-service e-commerce site to deliver a wide range of private-label products for newborns, toddlers and kids up to pre-teen. By focusing on value-priced, fashion-forward merchandise, The Children’s Place has built a recognizable brand in the youth apparel market.

The company’s product portfolio encompasses core categories such as tops, bottoms, sleepwear and outerwear, along with footwear and seasonal accessories.