Telsey Advisory Group, an equities research firm, distributed a note to investors on November 16 in which they stated that they anticipated a decline in American Eagle Outfitters’ earnings per share (EPS) during the third quarter of 2023.
AEO is the acronym for American Eagle Outfitters. The earnings prediction that Telsey of Telsey Advisory Group has provided for the clothes retailer for the upcoming quarter has been revised down from $0.27 per share to $0.22 per share.
Telsey Advisory Group has assigned the stock the rating of “Market Perform” and determined that the price goal for the stock should be $13.00 per share. According to the most recent projections, American Eagle Outfitters will bring in $0.66 per share of revenue for the entire year.
According to estimates provided by Telsey Advisory Group, American Eagle Outfitters will record a profit of $0.63 per share for the fiscal year that will come to a close in 2023.
American Eagle Outfitters misses earnings estimates
On September 7, American Eagle (NYSE: AEO) released its most recent quarterly report to the public. The clothes retailer’s earnings per share for the previous quarter came in at $0.04, which was $0.09 less than the consensus forecast of $0.13 from industry analysts.
The online clothing retailer announced earnings for the quarter of $0.04 per share, which was $0.09 less than the average estimate of $0.13 per share for the quarter.
The company reported sales of $1.20 billion during the period, which is almost the same amount that the majority of people anticipated it would make. The return on equity for American Eagle Outfitters came in at 19.05 percent, while the net margin for the company was 3.81 percent.
The same period of time the previous year saw the company earn $0.60 per share. This year, the corporation has earned $0.60 per share, which is a 0% increase from last year’s earnings. Additionally, compared to the same period of the previous year, sales are currently running at a 3 percent higher level.
American Eagle Outfitters Begins Trading at $12.17
Thursday marked the beginning of trading for each share of American Eagle Outfitters at a price of $12.17. The price has been very stable over the past 50 days, with a simple moving average of $10.77, while the average price over the past 200 days has been $11.89.
Over the course of the last year and a half, the share price of American Eagle Outfitters has fluctuated between $9.46 and $29.19. The ratio of current assets to current liabilities is 1.64, the quick ratio is 0.68, and the debt to equity ratio is 0.27.
These numbers are all connected to one another in some fashion or another. The company is currently valued at $2.28 billion on the market. Its price to earnings ratio comes in at 13.37, and its price to earnings growth ratio sits at 1.70.
It has a beta value of 1.34. A significant amount of writing about the company has been done by analysts specialising in a wide variety of subjects. Barclays increased their price objective for American Eagle Outfitters from $10.00 to $11.00 in a report that was released on September 9.
Cowen Revises Rating for American Eagle Outfitters
Despite this change, the brokerage maintained their “equal weight” rating on the stock. American Eagle Outfitters’ stock was rated “market perform” by Cowen in a report that was published on September 8, and the brokerage firm then reduced their price target for the company’s stock from $13.00 to $11.00.
On Thursday, September 8, Cowen revised its rating for American Eagle Outfitters (AEO) to “market perform” and reduced its price objective for the company from $13.00 to $11.00.
On October 12, an article published on StockNews.com was the first place where American Eagle Outfitters was mentioned on the internet. There have been discussions about stockholders “putting their shares up for sale.”
UBS Group predicted in a research note that was published on the 30th of August that the new price target for American Eagle Outfitters is $16.00. There are three experts who recommend purchasing it, eight who recommend keeping it, and three who recommend selling it.
According to Bloomberg, the majority of market analysts have assigned the stock a “Hold” rating and have set their price target at $13.77 per share.
New investors are flocking to American Eagle Outfitters stock
As a direct result of these shifts, the company’s interests have been reorganised in relation to those of its key investors. During the third quarter, Eisler Capital UK Ltd. increased its holdings in American Eagle Outfitters by making a payment of about $34,000.
A new share of American Eagle Outfitters was purchased by Elequin Capital LP in the first three months of the year for a total expenditure of $37,000. During the first three months of the current fiscal year, the Canada Pension Plan Investment Board made an investment of $37,000 in American Eagle Outfitters.
During the first three months of the fiscal year, Meeder Asset Management Inc. purchased American Eagle Outfitters stock for a total of $51,000. The amount of $58,000 was spent by QVIDTVM Management LLC during the third quarter in order to expand its investment in American Eagle Outfitters.
The American Eagle Outfitters, Inc. shop chain is a specialty store that sells apparel, accessories, and toiletries created by Aerie and American Eagle. The American Eagle brand is under the ownership of American Eagle Outfitters.
This shop offers a wide variety of products, ranging from jeans for men and women to intimates, activewear, swimwear for women, and even toiletries. The business is located in a convenient shopping centre.