Analysts Anticipate Ascena Retail Group Inc (ASNA) Will Post Quarterly Sales of $1.64 Billion

Analysts expect that Ascena Retail Group Inc (NASDAQ:ASNA) will post $1.64 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ascena Retail Group’s earnings, with the lowest sales estimate coming in at $1.63 billion and the highest estimate coming in at $1.65 billion. Ascena Retail Group reported sales of $1.75 billion in the same quarter last year, which would suggest a negative year over year growth rate of 6.3%. The company is scheduled to issue its next quarterly earnings results on Monday, March 5th.

According to Zacks, analysts expect that Ascena Retail Group will report full-year sales of $1.64 billion for the current year, with estimates ranging from $6.20 billion to $6.27 billion. For the next year, analysts anticipate that the firm will report sales of $6.14 billion per share, with estimates ranging from $6.00 billion to $6.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Ascena Retail Group.

Ascena Retail Group (NASDAQ:ASNA) last announced its quarterly earnings data on Monday, December 4th. The specialty retailer reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Ascena Retail Group had a positive return on equity of 2.50% and a negative net margin of 16.39%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis.

ASNA has been the subject of a number of recent research reports. BidaskClub raised Ascena Retail Group from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. FBR & Co set a $3.00 price objective on Ascena Retail Group and gave the stock a “hold” rating in a research report on Tuesday, October 17th. KeyCorp reissued a “hold” rating on shares of Ascena Retail Group in a research report on Wednesday, October 11th. Royal Bank of Canada set a $3.00 price objective on Ascena Retail Group and gave the stock a “hold” rating in a research report on Saturday, October 7th. Finally, ValuEngine downgraded Ascena Retail Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $2.75.

Shares of Ascena Retail Group (NASDAQ:ASNA) traded down $0.02 on Friday, hitting $2.41. The company’s stock had a trading volume of 1,270,000 shares, compared to its average volume of 2,940,000. Ascena Retail Group has a twelve month low of $1.65 and a twelve month high of $6.61. The firm has a market cap of $468.57, a P/E ratio of -0.44 and a beta of 1.96. The company has a quick ratio of 0.55, a current ratio of 1.36 and a debt-to-equity ratio of 2.24.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASNA. Sapience Investments LLC grew its position in Ascena Retail Group by 97.6% in the 2nd quarter. Sapience Investments LLC now owns 5,451,695 shares of the specialty retailer’s stock valued at $11,721,000 after acquiring an additional 2,692,810 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ascena Retail Group by 14.5% in the 2nd quarter. Vanguard Group Inc. now owns 16,634,350 shares of the specialty retailer’s stock valued at $35,763,000 after buying an additional 2,101,044 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ascena Retail Group by 12.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,899,897 shares of the specialty retailer’s stock valued at $32,035,000 after buying an additional 1,647,310 shares during the period. Okumus Fund Management Ltd. purchased a new position in shares of Ascena Retail Group in the 3rd quarter valued at about $2,227,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Ascena Retail Group by 131.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,321,737 shares of the specialty retailer’s stock valued at $3,239,000 after buying an additional 750,401 shares during the period. 94.92% of the stock is owned by institutional investors.

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About Ascena Retail Group

Ascena Retail Group, Inc is a specialty retailer of apparel for women and tween girls. The Company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn and Catherines. The ANN segment offers feminine classics and fashion choices, sold primarily under the Ann Taylor and LOFT brands.

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Earnings History and Estimates for Ascena Retail Group (NASDAQ:ASNA)

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