KeyCorp Comments on Ascena Retail Group Inc’s Q3 2018 Earnings (ASNA)

Ascena Retail Group Inc (NASDAQ:ASNA) – Equities researchers at KeyCorp dropped their Q3 2018 earnings per share (EPS) estimates for Ascena Retail Group in a research report issued on Wednesday. KeyCorp analyst E. Yruma now expects that the specialty retailer will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.10. KeyCorp has a “Hold” rating on the stock.

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

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Ascena Retail Group from a “hold” rating to a “sell” rating in a report on Wednesday, December 6th. FBR & Co set a $3.00 price objective on Ascena Retail Group and gave the company a “hold” rating in a report on Tuesday, October 17th. ValuEngine cut Ascena Retail Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. BidaskClub cut Ascena Retail Group from a “buy” rating to a “hold” rating in a report on Friday, December 8th. Finally, Royal Bank of Canada set a $3.00 price target on Ascena Retail Group and gave the company a “hold” rating in a report on Saturday, October 7th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $2.75.

Ascena Retail Group (NASDAQ ASNA) opened at $2.09 on Friday. The stock has a market capitalization of $409.72, a price-to-earnings ratio of -0.38 and a beta of 1.96. Ascena Retail Group has a twelve month low of $1.65 and a twelve month high of $5.94. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.55 and a current ratio of 1.36.

Several institutional investors have recently added to or reduced their stakes in ASNA. Sapience Investments LLC raised its holdings in shares of Ascena Retail Group by 97.6% in the second quarter. Sapience Investments LLC now owns 5,451,695 shares of the specialty retailer’s stock valued at $11,721,000 after buying an additional 2,692,810 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ascena Retail Group by 14.5% in the second 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 last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ascena Retail Group by 12.4% in the second 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 last quarter. Okumus Fund Management Ltd. bought a new position in shares of Ascena Retail Group in the third quarter valued at about $2,227,000. Finally, Schwab Charles Investment Management Inc. increased its position in Ascena Retail Group by 131.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,321,737 shares of the specialty retailer’s stock worth $3,239,000 after purchasing an additional 750,401 shares during the period. 94.92% of the stock is owned by institutional investors and hedge funds.

In related news, Director Krill Katherine Lawther sold 19,400 shares of Ascena Retail Group stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $2.33, for a total value of $45,202.00. Following the completion of the transaction, the director now directly owns 108,957 shares of the company’s stock, valued at $253,869.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.02% of the company’s stock.

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Ascena Retail Group Company Profile

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.

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

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