Children’s Place (NASDAQ:PLCE) Releases Earnings Results

Children’s Place (NASDAQ:PLCE – Get Rating) announced its quarterly earnings data on Wednesday. The company reported ($2.00) EPS for the quarter, missing analysts’ consensus estimates of ($1.77) by ($0.23), Briefing.com reports. Children’s Place had a negative return on equity of 0.57% and a negative net margin of 0.07%. The firm had revenue of $321.60 million during the quarter, compared to the consensus estimate of $338.46 million. During the same quarter in the prior year, the business posted $1.05 EPS. Children’s Place’s revenue was down 11.3% compared to the same quarter last year. Children’s Place updated its Q2 guidance to ($2.20)-($2.15) EPS and its FY24 guidance to $1.00-1.50 EPS.

Children’s Place Trading Down 21.4 %

Shares of PLCE opened at $18.68 on Thursday. The stock has a fifty day moving average price of $31.99 and a two-hundred day moving average price of $36.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.18 and a current ratio of 0.87. Children’s Place has a 52-week low of $17.62 and a 52-week high of $57.00. The company has a market cap of $231.63 million, a price-to-earnings ratio of -44.48 and a beta of 1.97.

Hedge Funds Weigh In On Children’s Place

Institutional investors have recently bought and sold shares of the business. State of Wyoming raised its position in Children’s Place by 45.7% in the 4th quarter. State of Wyoming now owns 858 shares of the company’s stock valued at $31,000 after purchasing an additional 269 shares during the last quarter. Captrust Financial Advisors raised its position in Children’s Place by 125.4% in the 1st quarter. Captrust Financial Advisors now owns 888 shares of the company’s stock valued at $44,000 after purchasing an additional 494 shares during the last quarter. Western Standard LLC bought a new position in Children’s Place in the 4th quarter valued at $40,000. PNC Financial Services Group Inc. raised its position in Children’s Place by 51.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,171 shares of the company’s stock valued at $43,000 after purchasing an additional 399 shares during the last quarter. Finally, Point72 Hong Kong Ltd raised its position in Children’s Place by 1,517.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,213 shares of the company’s stock valued at $60,000 after purchasing an additional 1,138 shares during the last quarter. Institutional investors own 98.73% of the company’s stock.

Analyst Ratings Changes

PLCE has been the subject of a number of research reports. Telsey Advisory Group reduced their price objective on Children’s Place from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Friday, March 17th. UBS Group cut their target price on Children’s Place from $40.00 to $20.00 in a research report on Thursday. TheStreet downgraded Children’s Place from a “c” rating to a “d+” rating in a research report on Thursday, March 16th. B. Riley initiated coverage on Children’s Place in a research report on Thursday, May 11th. They set a “buy” rating and a $50.00 target price for the company. Finally, StockNews.com initiated coverage on Children’s Place in a research report on Thursday, May 18th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Children’s Place Company Profile

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The Children’s Place, Inc engages in the provision of apparel, footwear, accessories, and other items for children. The firm also designs contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Baby Place, and Gymboree. It operates through The Children’s Place U.S.