Ascena Retail Group Inc (ASNA) Issues Q4 Earnings Guidance

Marco Green
June 11, 2017

Recently analysts working for various investment brokerages have changed their ratings and price targets on shares of Ascena Retail Group, Inc. The stock ended last trade at $1.82 a share and the price is up more than -70.68% so far this year.

Ascena Retail Group (NASDAQ:ASNA) last posted its quarterly earnings data on Monday, March 6th. 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 report on Saturday, May 13th. Telsey Advisory Group reduced their target price on Ascena Retail Group from $6.00 to $3.00 and set a "market perform" rating for the company in a research report on Thursday, May 18th. FBR Capital maintained Ascena Retail Group Inc (NASDAQ:ASNA) on Wednesday, June 1 with "Outperform" rating.

It is important to note that Ascena is not the only company feeling the pressure of lower retail traffic. Ascena Retail Grp Cmn (NASDAQ:ASNA)'s price sits -44.21% off from its 50-day moving average of $2.92 and -65.03% away from the stock's 200-day moving average which is $4.68. As concerns shares volumes, in share Capital Company has 167.65 million outstanding shares among them 114.76 million shares have been floated in market exchange. Ascena Retail Group Inc has a 1-year low of $1.65 and a 1-year high of $9.12. The company has a market capitalization of $394.88 million, a PE ratio of 57.22 and a beta of 1.93. Company's distance from 20 day simple moving average is -19.88% and distance from 50-Day simple moving average is -44.21%. (ASNA) belonging to the Retail-Wholesale sector has declined -1.89% and closed its last trading session at $1.82.

In the third-quarter, the payment services provider estimated revenues in the range of $463 million to $465 million and diluted earnings per share between 14 cents to 15 cents. Ascena Retail Group had a return on equity of 4.50% and a net margin of 0.29%. While in the same Quarter Previous year, the Actual EPS was $0.15. Where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock's price movement. Finally, BlueCrest Capital Management Ltd raised its position in Ascena Retail Group by 196.6% in the first quarter. The fund owned 26,215 shares of the specialty retailer's stock after selling 7,088 shares during the period.

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Guggenheim started coverage on Ascena Retail Group in a research report on Thursday, March 9th. By banner, same-store sales were down 7% at Ann Taylor; 6% at Loft; 12% at Maurices; 8% at Dressbarn; 11% at Catherines; 6% at Justice; and 6% at Total Kids Fashion.

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