Market Overview

Abercrombie & Fitch Could Move 9% After Earnings


Abercrombie & Fitch Co. (NYSE: ANF) is scheduled to report its first quarter results on Thursday before market open.

The Estimize consensus earnings per share estimate (based on 13 estimates) stands at a loss of $0.36 per share on revenue of $729.02 million. This compares to the Wall Street consensus estimate calling for a loss of $0.34 per share on revenue of $733.68 million.

Abercombie & Fitch last reported its results in early March. The company earned $1.15 per share in its fourth quarter, missing the consensus estimate by one cent. Similarly, the company reported revenue of $1.12 billion that also fell short of the $1.17 billion analysts were expecting.

Shares of Abercrombie fell to 52-week lows of $19.34 following the fourth quarter print but briefly rallied to around $23 per share. By Wednesday, shares were trading below the $20 mark ahead of Thursday's print.

Speaking to Benzinga, TD Ameritrade's Chief Strategist JJ Kinahan said that the market is anticipating a 9 percent move in either direction following the release of Abercrombie & Fitch's quarterly results.

Kinahan also stated that he observed activity among call buyers. He said that investors were buying the May $22 options and selling the June $23 options. As a whole, call options saw a 12x spike in trading activity while put options (led by the May $18.50 puts) saw its activity rise four-fold, signaling the market has a "good amount of interest" heading in to the earnings print.

Posted-In: abercrombie & fitch JJ Kinahan retailersAnalyst Color Previews Options Markets Trading Ideas


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