American Eagle Outfitters (NYSE:AEO) Posts Earnings Results, Beats Estimates By $0.01 EPS

American Eagle Outfitters (NYSE:AEO) released its earnings results on Thursday. The apparel retailer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01, RTT News reports. American Eagle Outfitters had a return on equity of 19.39% and a net margin of 4.12%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business posted $0.25 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. American Eagle Outfitters updated its FY 2024 guidance to EPS.

American Eagle Outfitters Price Performance

Shares of American Eagle Outfitters stock traded down $0.20 on Friday, reaching $20.58. The company had a trading volume of 6,678,052 shares, compared to its average volume of 4,656,173. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.01 and a beta of 1.51. The firm’s 50-day moving average price is $20.83 and its two-hundred day moving average price is $22.40. American Eagle Outfitters has a 1 year low of $14.39 and a 1 year high of $26.44.

American Eagle Outfitters Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, July 12th. American Eagle Outfitters’s payout ratio is 45.05%.

Insider Buying and Selling

In other news, Director Cary D. Mcmillan sold 2,577 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $20.93, for a total value of $53,936.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AEO has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of American Eagle Outfitters from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Thursday, May 30th. Barclays reduced their price target on shares of American Eagle Outfitters from $32.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group dropped their price objective on shares of American Eagle Outfitters from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday. TD Cowen reduced their target price on American Eagle Outfitters from $25.00 to $23.00 and set a “hold” rating on the stock in a report on Friday. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $25.00 price target on shares of American Eagle Outfitters in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Eagle Outfitters has a consensus rating of “Hold” and an average price target of $25.33.

About American Eagle Outfitters

American Eagle Outfitters, Inc operates as a multi-brand specialty retailer in the United States and internationally. The company provides jeans, apparel and accessories, and personal care products for women and men under the American Eagle brand; and intimates, apparel, activewear, and swim collections under the Aerie and OFFLINE by Aerie brands.