SunTrust Banks Research Analysts Lift Earnings Estimates for Childrens Place Inc (PLCE)
Childrens Place Inc (NASDAQ:PLCE) – Analysts at SunTrust Banks increased their FY2019 earnings estimates for Childrens Place in a report issued on Thursday, August 23rd. SunTrust Banks analyst P. Quintiliano now expects that the company will post earnings of $8.26 per share for the year, up from their previous forecast of $8.05.
A number of other equities research analysts have also recently commented on the stock. Citigroup raised their price objective on shares of Childrens Place from $145.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Monness Crespi & Hardt raised shares of Childrens Place from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Friday, August 24th. They noted that the move was a valuation call. BidaskClub raised shares of Childrens Place from a “hold” rating to a “buy” rating in a research note on Wednesday, August 22nd. Wedbush assumed coverage on shares of Childrens Place in a research note on Thursday, July 12th. They set an “outperform” rating and a $150.00 price objective on the stock. Finally, ValuEngine cut shares of Childrens Place from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $147.08.
Childrens Place (NASDAQ:PLCE) last issued its quarterly earnings data on Thursday, August 23rd. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The business had revenue of $448.70 million for the quarter, compared to analysts’ expectations of $427.89 million. Childrens Place had a net margin of 3.76% and a return on equity of 33.17%. The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Wednesday, September 5th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 4th. This represents a $2.00 dividend on an annualized basis and a yield of 1.43%. Childrens Place’s dividend payout ratio is currently 25.28%.
In related news, SVP Anurup Pruthi sold 14,512 shares of Childrens Place stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $128.39, for a total value of $1,863,195.68. Following the sale, the senior vice president now owns 15,721 shares of the company’s stock, valued at approximately $2,018,419.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PLCE. FMR LLC boosted its stake in Childrens Place by 50.4% during the 2nd quarter. FMR LLC now owns 829,800 shares of the company’s stock worth $100,240,000 after purchasing an additional 278,017 shares during the last quarter. Marshall Wace LLP boosted its stake in Childrens Place by 12,849.4% during the 2nd quarter. Marshall Wace LLP now owns 270,124 shares of the company’s stock worth $32,631,000 after purchasing an additional 268,038 shares during the last quarter. Voya Investment Management LLC boosted its stake in Childrens Place by 44.2% during the 2nd quarter. Voya Investment Management LLC now owns 635,588 shares of the company’s stock worth $76,779,000 after purchasing an additional 194,722 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Childrens Place by 82.5% during the 1st quarter. Thrivent Financial for Lutherans now owns 384,377 shares of the company’s stock worth $51,987,000 after purchasing an additional 173,781 shares during the last quarter. Finally, Scopus Asset Management L.P. acquired a new stake in Childrens Place during the 2nd quarter worth $16,912,000.
About Childrens Place
The Children's Place, Inc operates as a children's specialty apparel retailer. The company operates in two segments, The Children's Place U.S. and The Children's Place International. It sells apparel, accessories, footwear, and other items for children; and designs, contracts to manufacture, and sells merchandise under the proprietary The Children's Place, Place, and Baby Place brand names.
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