Why The Children's Place, Inc. Stock Surged Today
- Author: Zachary Reyes Mar 09, 2017,
Mar 09, 2017, 13:55
Revenues rose 4.5% from a year ago to $520.8 million, but fell short of analysts' view for $522.13 million. Children's Place said it expects adjusted earnings per share between $6.50 and $6.55, well above the Reuters consensus forecast of $5.85 a share.
Childrens Place (NASDAQ:PLCE) last released its quarterly earnings results on Wednesday, March 8th. Stockholders of record on Monday, April 10th will be given a dividend of 0.40 per share on Monday, May 1st. However, its revenue of $7.27 billion representing one percent fall on a year-over-year basis missed expectations of $7.5 billion. "This dividend increase and the new share repurchase authorization reflect our confidence in our ability to execute on our strategic initiatives and our continuing commitment to return excess capital to shareholders".
About The Children's Place, Inc.
A number of analysts have commented on PLCE shares.
"Childrens Place Inc (PLCE) Increases Dividend to $0.40 Per Share" was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem.
Bob Evans Farms Inc (NASDAQ:BOBE): The company reported an EPS of 75 cents on revenue of $335.95 million for the third quarter.
After moving sharply higher in early trading, shares of Children's Place (PLCE) continue to see significant strength in afternoon trading on Wednesday. The firm issued a buy rating and a $120.00 price target on the stock. Finally, Mizuho reiterated a "buy" rating and issued a $105.00 price target (up from $95.00) on shares of Childrens Place in a research note on Tuesday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Childrens Place's dividend payout ratio (DPR) is presently 17.98%.
Senior Vice President, CFO, PRUTHI ANURUP, sold 601 common shares of The Children's Place, Inc. The shares were sold at an average price of $100.00, for a total transaction of $4,099,500.00. Similar statistics are true for the second largest owner, Blackrock Fund Advisors, which owns 1,407,122 shares of the stock are valued at $140.57 million. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.93% of the company's stock. The business's revenue for the quarter was up 4.5% compared to the same quarter past year. The company's 50-day moving average is $99.90 and its 200 day moving average is $90.97. Childrens Place has a 52 week low of $65.21 and a 52 week high of $111.20. If you are viewing this piece on another publication, it was illegally copied and reposted in violation of USA & global copyright legislation.
Shares of The Children's Place, Inc. The Company sells apparel, accessories, footwear and other items for children.