Abercrombie & Fitch Falls as Morgan Stanley Cuts Estimates
Shares of Abercrombie & Fitch (NYSE: ANF) were under pressure on Monday after analysts at Morgan Stanley cut their estimates for the retailer. The firm's estimates are currently significantly below Wall Street consensus. Morgan Stanley lowered its fiscal 2012, 2013 and 2014 estimates for the stock.
For fiscal 2012, the firm moved its EPS estimate from $2.24 to $2.04. This compares to current consensus of $3.42. For fiscal 2013, Morgan Stanley lowered its estimate from $3.15 to $3.10, which compares to current consensus of $4.22. For fiscal 2014, the firm went from $3.68 to $3.62, which is well below current consensus of $5.14.
During Monday's trading session, ANF shares had fallen a little more than 4%. Year-to-date, the once high-flying retailer has lost almost 29%.
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