Abercrombie & Fitch Company (NYSE:ANF) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $9.72, but opened at $9.61. Abercrombie & Fitch shares last traded at $11.07, with a volume of 13,981,695 shares changing hands.

The apparel retailer reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.17. The company had revenue of $779 million during the quarter, compared to analyst estimates of $758.57 million. Abercrombie & Fitch had a negative net margin of 0.55% and a negative return on equity of 1.26%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.25) EPS.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, September 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 6.48%. The ex-dividend date is Wednesday, August 30th. Abercrombie & Fitch’s payout ratio is presently -296.29%.

A number of research firms have recently issued reports on ANF. Royal Bank Of Canada set a $12.00 target price on shares of Abercrombie & Fitch and gave the stock a “sell” rating in a report on Saturday, May 13th. Wunderlich raised shares of Abercrombie & Fitch from a “sell” rating to a “hold” rating and upped their target price for the stock from $10.50 to $12.00 in a report on Thursday, June 22nd. Citigroup Inc. raised shares of Abercrombie & Fitch from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.25 to $16.00 in a report on Friday. BMO Capital Markets set a $12.00 target price on shares of Abercrombie & Fitch and gave the stock a “hold” rating in a report on Friday. Finally, William Blair reaffirmed a “buy” rating on shares of Abercrombie & Fitch in a report on Friday. Eleven research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $13.53.

Several hedge funds have recently modified their holdings of ANF. Louisiana State Employees Retirement System boosted its stake in shares of Abercrombie & Fitch by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 27,700 shares of the apparel retailer’s stock valued at $345,000 after buying an additional 100 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of Abercrombie & Fitch by 0.5% in the second quarter. Capstone Asset Management Co. now owns 31,952 shares of the apparel retailer’s stock valued at $397,000 after buying an additional 160 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Abercrombie & Fitch by 0.6% in the second quarter. Arizona State Retirement System now owns 35,500 shares of the apparel retailer’s stock valued at $442,000 after buying an additional 200 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Abercrombie & Fitch by 0.3% in the first quarter. Prudential Financial Inc. now owns 115,769 shares of the apparel retailer’s stock valued at $1,381,000 after buying an additional 400 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of Abercrombie & Fitch by 3.9% in the second quarter. Suntrust Banks Inc. now owns 13,257 shares of the apparel retailer’s stock valued at $164,000 after buying an additional 492 shares in the last quarter.

The firm’s market cap is $839.32 million. The stock has a 50 day moving average of $9.80 and a 200 day moving average of $11.57.

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About Abercrombie & Fitch

Abercrombie & Fitch Co is a specialty retailer who primarily sells its products through store and direct-to-consumer operations, as well as through various wholesale, franchise and licensing arrangements. The Company operates through two segments: Abercrombie, which includes the Company’s Abercrombie & Fitch and abercrombie kids brands, and Hollister, which includes the Company’s Hollister and Gilly Hicks brands.

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