Wedbush Weighs in on Childrens Place Inc’s Q3 2020 Earnings (PLCE)
Childrens Place Inc (NASDAQ:PLCE) – Wedbush dropped their Q3 2020 earnings estimates for Childrens Place in a report released on Wednesday, August 29th. Wedbush analyst J. Redding now expects that the company will earn $3.28 per share for the quarter, down from their previous estimate of $3.85. Wedbush currently has a “Outperform” rating and a $150.00 target price on the stock.
Childrens Place (NASDAQ:PLCE) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The business had revenue of $448.70 million during the quarter, compared to the consensus estimate of $427.89 million. Childrens Place had a return on equity of 33.17% and a net margin of 3.76%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS.
PLCE stock opened at $139.70 on Monday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 2.16 and a beta of 0.43. Childrens Place has a 52-week low of $99.90 and a 52-week high of $161.65.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Wednesday, September 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.43%. Childrens Place’s payout ratio is presently 25.28%.
In other news, insider Jane T. Elfers sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $134.93, for a total value of $13,493,000.00. Following the transaction, the insider now owns 141,491 shares in the company, valued at approximately $19,091,380.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Childrens Place by 0.9% in the 2nd quarter. BlackRock Inc. now owns 2,284,817 shares of the company’s stock worth $276,007,000 after purchasing an additional 20,827 shares during the period. FMR LLC raised its holdings in shares of Childrens Place by 50.4% in 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 period. LSV Asset Management raised its holdings in shares of Childrens Place by 7.0% in the 2nd quarter. LSV Asset Management now owns 757,836 shares of the company’s stock worth $91,546,000 after purchasing an additional 49,555 shares during the period. Voya Investment Management LLC raised its holdings in shares of Childrens Place by 44.2% in 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 period. Finally, OppenheimerFunds Inc. raised its holdings in shares of Childrens Place by 40.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 424,197 shares of the company’s stock worth $51,242,000 after purchasing an additional 121,867 shares during the period.
Childrens Place Company Profile
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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