Children's Place Inc PLCE is trading significantly higher Thursday after the company reported better-than-expected earnings results.
What Happened: Children's Place reported first-quarter earnings of $3.25 per share, which is up from a loss of $3.33 per share year-over-year. The company reported revenue of $435.5 million, which beat the estimate of $354.78 million.
“We delivered outstanding first quarter results with gross margin, operating margin, and EPS all at record levels. Our Q1 2021 net sales of $435 million exceeded our pre-COVID Q1 2019 net sales of $412 million, despite having 261 or 27% fewer stores ending Q1 2021 versus Q1 2019,” said Jane Elfers, president and CEO of Children's Place.
Recent Analyst Ratings: On Monday, the stock received a pair of upgrades ahead of earnings.
Wedbush upgraded Children's Place from Neutral to Outperform and raised the price target from $48 to $150.
Monness, Crespi, Hardt upgraded Children's Place from Neutral to Buy and announced a $93 price target.
Price Action: Children's Place is making new 52-week highs today. At last check Thursday, the stock was up 13% at $100.
Photo by ajay_suresh from Flickr.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.