Zacks: Brokerages Expect Ascena Retail Group, Inc. (ASNA) Will Announce Quarterly Sales of $1.60 Billion

Wall Street analysts expect Ascena Retail Group, Inc. (NASDAQ:ASNA) to post $1.60 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Ascena Retail Group’s earnings, with the highest sales estimate coming in at $1.66 billion and the lowest estimate coming in at $1.53 billion. Ascena Retail Group posted sales of $1.81 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.6%. The company is scheduled to report its next earnings report on Monday, September 18th.

On average, analysts expect that Ascena Retail Group will report full year sales of $1.60 billion for the current year, with estimates ranging from $6.51 billion to $6.62 billion. For the next year, analysts forecast that the firm will post sales of $6.35 billion per share, with estimates ranging from $6.14 billion to $6.59 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Ascena Retail Group.

Several research analysts have recently issued reports on ASNA shares. BidaskClub downgraded shares of Ascena Retail Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine downgraded shares of Ascena Retail Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company reiterated a “market perform” rating and issued a $2.00 target price (down previously from $6.00) on shares of Ascena Retail Group in a research note on Sunday, June 11th. Finally, Royal Bank Of Canada set a $5.00 target price on shares of Ascena Retail Group and gave the stock a “hold” rating in a research note on Monday, June 12th. 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 stock presently has a consensus rating of “Hold” and a consensus price target of $3.83.

TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Expect Ascena Retail Group, Inc. (ASNA) Will Announce Quarterly Sales of $1.60 Billion” was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/09/20/zacks-brokerages-expect-ascena-retail-group-inc-asna-will-announce-quarterly-sales-of-1-60-billion.html.

Shares of Ascena Retail Group (NASDAQ ASNA) opened at 2.09 on Wednesday. Ascena Retail Group has a 52 week low of $1.65 and a 52 week high of $8.34. The stock’s 50 day moving average is $2.14 and its 200 day moving average is $2.77. The stock’s market cap is $401.07 million.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Ascena Retail Group by 54,175.1% during the first quarter. BlackRock Inc. now owns 21,051,698 shares of the specialty retailer’s stock valued at $89,680,000 after purchasing an additional 21,012,911 shares during the period. Nomura Holdings Inc. lifted its position in Ascena Retail Group by 72.5% during the first quarter. Nomura Holdings Inc. now owns 19,090,378 shares of the specialty retailer’s stock valued at $81,377,000 after purchasing an additional 8,025,583 shares during the period. Vanguard Group Inc. lifted its position in Ascena Retail Group by 14.5% during the second quarter. Vanguard Group Inc. now owns 16,634,350 shares of the specialty retailer’s stock valued at $35,763,000 after purchasing an additional 2,101,044 shares during the period. Dimensional Fund Advisors LP lifted its position in Ascena Retail Group by 12.4% during 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 purchasing an additional 1,647,310 shares during the period. Finally, Sapience Investments LLC lifted its position in Ascena Retail Group by 97.6% during the second quarter. Sapience Investments LLC now owns 5,451,695 shares of the specialty retailer’s stock valued at $11,721,000 after purchasing an additional 2,692,810 shares during the period. Institutional investors own 95.71% of the company’s stock.

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.

Get a free copy of the Zacks research report on Ascena Retail Group (ASNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Ascena Retail Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ascena Retail Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply