B. Riley Brokers Increase Earnings Estimates for Chico’s FAS, Inc. (NYSE:CHS)
Chico’s FAS, Inc. (NYSE:CHS – Get Rating) – Stock analysts at B. Riley lifted their Q3 2023 EPS estimates for Chico’s FAS in a report released on Tuesday, June 7th. B. Riley analyst S. Anderson now expects that the specialty retailer will post earnings per share of $0.11 for the quarter, up from their previous forecast of $0.10. B. Riley also issued estimates for Chico’s FAS’s Q4 2023 earnings at $0.08 EPS and FY2023 earnings at $0.71 EPS. Chico’s FAS (NYSE:CHS – Get Rating) last announced its quarterly earnings results on Tuesday, June 7th. The specialty retailer reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.18. Chico’s FAS had a net margin of 4.59% and a return on equity of 43.27%. During the same period last year, the firm posted ($0.08) EPS.
Several other brokerages also recently commented on CHS. Zacks Investment Research upgraded shares of Chico’s FAS from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Thursday. StockNews.com downgraded shares of Chico’s FAS from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 20th.
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Shares of Chico’s FAS stock opened at $5.51 on Friday. The firm has a market capitalization of $689.52 million, a PE ratio of 7.55 and a beta of 1.33. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.10 and a quick ratio of 0.35. The company’s fifty day moving average price is $4.97 and its two-hundred day moving average price is $4.91. Chico’s FAS has a 52-week low of $3.80 and a 52-week high of $7.29.
Hedge funds have recently made changes to their positions in the company. Advisor Group Holdings Inc. increased its stake in shares of Chico’s FAS by 808.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 104,112 shares of the specialty retailer’s stock valued at $560,000 after acquiring an additional 92,646 shares during the last quarter. Squarepoint Ops LLC increased its stake in Chico’s FAS by 1,432.3% during the 3rd quarter. Squarepoint Ops LLC now owns 702,511 shares of the specialty retailer’s stock worth $3,154,000 after purchasing an additional 656,663 shares in the last quarter. Credit Suisse AG increased its stake in Chico’s FAS by 14.5% during the 3rd quarter. Credit Suisse AG now owns 27,462 shares of the specialty retailer’s stock worth $123,000 after purchasing an additional 3,487 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Chico’s FAS during the 4th quarter worth approximately $194,000. Finally, Ensign Peak Advisors Inc bought a new stake in Chico’s FAS during the 3rd quarter worth approximately $587,000. 80.88% of the stock is owned by institutional investors.
In other Chico’s FAS news, insider Bonnie R. Brooks sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $5.12, for a total transaction of $512,000.00. Following the transaction, the insider now directly owns 1,285,277 shares in the company, valued at approximately $6,580,618.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bonnie R. Brooks sold 200,000 shares of the company’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $4.28, for a total transaction of $856,000.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.
Chico’s FAS Company Profile (Get Rating)
Chico’s FAS, Inc operates as an omnichannel specialty retailer of women’s private branded casual-to-dressy clothing, intimates, and complementary accessories. It operates under the Chico’s, White House Black Market (WHBM)and Soma brands. The Chico’s brand primarily sells private branded clothing focusing on women with moderate to high household income levels.
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