Torrid Holdings Inc. to Post Q4 2022 Earnings of $0.05 Per Share, Jefferies Financial Group Forecasts (NYSE:CURV)

Torrid Holdings Inc. (NYSE:CURV) – Analysts at Jefferies Financial Group dropped their Q4 2022 earnings per share (EPS) estimates for shares of Torrid in a research note issued to investors on Tuesday, January 11th. Jefferies Financial Group analyst C. Tarlowe now expects that the company will earn $0.05 per share for the quarter, down from their previous forecast of $0.15. Jefferies Financial Group also issued estimates for Torrid’s Q2 2023 earnings at $0.35 EPS and Q3 2023 earnings at $0.27 EPS.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Tuesday, December 7th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.06). The business had revenue of $306.24 million for the quarter, compared to analysts’ expectations of $311.36 million. The company’s revenue was up 13.4% compared to the same quarter last year.

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Torrid from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday. Morgan Stanley decreased their price target on shares of Torrid from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, December 27th. Cowen decreased their price target on shares of Torrid from $30.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, December 9th. The analyst said its 3Q experienced sales pressure on supply-chain related inventory delays and believes its multiple is likely to contract in near-term. He noted they narrowed FY2021 outlook and its 4Q guidance is lower versus the Street on inflationary headwinds including air freight and potential inventory delays. Telsey Advisory Group decreased their price target on shares of Torrid from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Zacks Investment Research raised shares of Torrid from a “sell” rating to a “hold” rating in a research note on Tuesday, December 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $19.83.

Shares of Torrid stock opened at $9.51 on Friday. Torrid has a 1-year low of $8.06 and a 1-year high of $33.19. The business’s 50-day moving average price is $13.65.

A number of hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. bought a new position in Torrid in the third quarter valued at approximately $28,145,000. Lord Abbett & CO. LLC bought a new position in Torrid in the third quarter valued at approximately $23,809,000. FIL Ltd bought a new position in Torrid in the third quarter valued at approximately $13,418,000. BlackRock Inc. bought a new position in Torrid in the third quarter valued at approximately $9,158,000. Finally, Millennium Management LLC acquired a new stake in Torrid in the third quarter worth $8,950,000. 14.48% of the stock is currently owned by hedge funds and other institutional investors.

About Torrid

Torrid Holdings Inc focuses on operating as a holding company for Torrid Parent Inc that operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid and Torrid Curve brand names. It is involved in the sale of tops, bottoms, dresses, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.

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Earnings History and Estimates for Torrid (NYSE:CURV)

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