Chico’s FAS Inc. (CHS) Hits New 1-Year High After Strong Earnings
Chico’s FAS Inc. (NYSE:CHS) shares hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $15.40 and last traded at $15.36, with a volume of 4,903,831 shares changing hands. The stock had previously closed at $13.99.
The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The business earned $596.90 million during the quarter, compared to analyst estimates of $610.83 million. Chico’s FAS had a net margin of 0.84% and a return on equity of 14.41%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, December 5th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.29%. Chico’s FAS’s payout ratio is 213.33%.
CHS has been the subject of several research analyst reports. Jefferies Group reaffirmed a “hold” rating on shares of Chico’s FAS in a research report on Monday, August 1st. Zacks Investment Research lowered shares of Chico’s FAS from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. FBR & Co reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Chico’s FAS in a research report on Saturday, September 3rd. Mizuho increased their price objective on shares of Chico’s FAS from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, August 31st. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Chico’s FAS in a research report on Wednesday, September 28th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Chico’s FAS has a consensus rating of “Hold” and a consensus target price of $13.79.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its stake in Chico’s FAS by 5.3% in the third quarter. BlackRock Fund Advisors now owns 6,890,210 shares of the company’s stock worth $81,993,000 after buying an additional 344,459 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Chico’s FAS by 37.5% in the third quarter. JPMorgan Chase & Co. now owns 6,731,576 shares of the company’s stock worth $80,106,000 after buying an additional 1,837,430 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Chico’s FAS by 25.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,038,059 shares of the company’s stock worth $53,957,000 after buying an additional 1,029,247 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Chico’s FAS by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,254,548 shares of the company’s stock worth $45,566,000 after buying an additional 77,568 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in Chico’s FAS by 1.2% in the second quarter. Sterling Capital Management LLC now owns 3,223,582 shares of the company’s stock worth $34,525,000 after buying an additional 37,188 shares in the last quarter. 90.90% of the stock is currently owned by hedge funds and other institutional investors.
The stock’s 50 day moving average price is $12.44 and its 200-day moving average price is $11.77. The company has a market cap of $1.98 billion, a PE ratio of 97.71 and a beta of 0.73.
About Chico’s FAS
Chico’s FAS, Inc is a specialty retailer of women’s private branded, casual-to-dressy clothing, intimates, complementary accessories and other non-clothing items operating under the Chico’s, White House Black Market (WHBM) and Soma brand names. The Company’s brands are specialty retailers of private label women’s apparel and related products.
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