Chico's FAS (NYSE:CHS) Issues FY 2023 Earnings Guidance

() updated its FY 2023 guidance on earnings on Wednesday morning. The company gave EPS guidance for the period of $0.70 to $0.82, compared with the consensus estimate of $0.83. The company provided revenue guidance between $2.17 billion and $2.21 billion, which is lower than the consensus estimate of $2.22billion. Chico's FAS updated its Q2 guidance for 2023 to $0.25-$0.30 per share.

Chico's FAS Stock Performace

The stock rose $0.22 to $5.63 during the trading hours of Wednesday. The stock exchanged hands 2,285,319 times, as compared to the average trading volume of 2,178.338. The debt-to equity ratio for the company is 0.15. Its current ratio is 1.14, and its quick ratio is 0.53. The company's 200-day and 50-day moving average prices are $5.30 and $5.16 respectively. The market cap of the stock is $695.42 millions, with a P/E ratio of 6.40. It also has a beta value of 1.22. The last time ) released its results was on Tuesday, 6th June. The specialty retailer posted $0.32 per share for the third quarter, exceeding analysts' expectations of $0.28. Chico's FAS reported a return of equity of 36.1% and a margin net of 5.09%. The company had a revenue of $534.74 millions for the quarter compared to a consensus estimate of 541.95. In the same quarter of the previous year, the company earned $0.28 per share. Analysts expect Chico's FAS to post 0.83 earnings per share for the current fiscal period.

Wall Street analysts forecast growth

In a report published on Thursday 18th May, a reporter covered Chico's FAS. They assigned a buy rating to the company. TheStreet upgraded Chico’s FAS in a Tuesday research report from a C+ rating to B rating. Telsey Advisory Group reiterated a market-perform rating and set a $6.00 target price on shares of Chico’s FAS on Tuesday, April 11. B. Riley reiterated a buy rating for shares of Chico’s FAS on Thursday, the 13th, in a report.

Insiders Bet on the Future

Chico FAS Director Bonnie R. Brooks has sold 69.600 shares in Chico FAS Stock. The transaction was completed on Thursday, 16th March. The stock was purchased at an average of $6.28 for a transaction totaling $437,088.00. After the sale was completed, the director owns directly 704,640 shares, worth approximately $4,425,139.20. Bonnie R. Brooks, the director of the company, sold 69.600 shares in a deal that took place on Thursday, 16th March. The stock was bought at an average of $6.28 for a value of $437.088.00. After the sale was completed, the director owns directly 704,640 shares, worth approximately $4,425,139.20. Bonnie R. Brooks, the director of the company, sold 30,400 shares in a deal dated March 10th. The shares were sold for an average of $6.15 and had a value of $186.960.00. After the transaction is complete, the director owns approximately $4,761,576 worth of shares. Insiders own 3.80% of company stock.

Hedge Funds weigh in on Chico's FAS

Recently, institutional investors increased or decreased their stakes. BlackRock Inc. increased their position in Chico’s FAS during the third quarter by 0.8%. BlackRock Inc. owns now 20,334,520 of the specialty retailer stock valued at $98,420,000, after buying an additional 160 139 shares during this period. Vanguard Group Inc. increased their position in Chico’s FAS by 9.3% over the third quarter. Vanguard Group Inc. owns now 9,151,107 of the specialty retailer stock valued at $44,292,000, after buying an additional 777773 shares. State Street Corp increased its holdings of shares of Chico’s FAS in the first quarter by 0.5%. State Street Corp owns now 5,388,579 of the specialty retailer stock valued at $29,637,000. This is after adding 24,435 additional shares. Dimensional Fund Advisors LP increased its holdings of shares of Chico’s FAS in the first quarter by 12.9%. Dimensional Fund Advisors LP owns 5,186.334 shares in the specialty retailer, valued at $28,524,000, after acquiring 593.010 additional shares. Neuberger Berman Group LLC increased its holdings of Chico FAS shares by 10.7% during the third quarter. Neuberger Berman Group LLC owns 5,072,172 of the specialty retailer stock, worth $24,521,000. This is after adding 490,854 additional shares. 88.59% of company stock is owned by institutional investors and hedge fund.

Chico's FAS Company profile

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Chico's FAS, Inc. is a retailer of sophisticated, private-branded apparel for women, including casual to dressy clothing, intimates, complementary accessories, and more. It is divided into three segments: White House Black Market and Soma. Chico's is a segment that sells private-branded, exclusively-designed clothing to women of moderate-to high household income.

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