Abercrombie & Fitch Co. Stock Skyrocket on Killer Q3

Abercrombie & Fitch Co. (NYSE:ANF) stock was skyrocketing today on a stellar earnings report for the third quarter of 2017.

Abercrombie & Fitch Co. Stock Skyrocket on Killer Q3

The positive news for ANF stock starts out with earnings per share of 30 cents for the quarter. This is an increase over its earnings per share of 2 cents from the same time last year. It also easily beat out Wall Street’s earnings per share estimate of 22 cents for the third quarter of the year.

Abercrombie & Fitch Co. reported net income of $10.1 million during its third quarter of 2017. This is better than its net income of $7.9 million that was reported in the same period of the year prior.

Revenue of $859.10 million reported in the third quarter of 2017 was also a boon to ANF stock. It is up 5% over Abercrombie & Fitch Co.’s revenue reported in the third quarter of 2016. It also came in above analysts’ revenue estimate of $818.90 million for the quarter.

Abercrombie & Fitch Co. provided guidance for its fourth quarter of 2017 in its most recent earnings report. The company says that it expects comparable sales for the quarter to be up by low-single digits. It is also expecting revenue for the quarter to be up by mid- to high-single digits.

Abercrombie & Fitch Co. also recently announced a cash dividend of 20 cents per share. This dividend will be payable to holders of ANF stock on Dec. 11, 2017. Shareholders must be on record as of Dec. 1, 2017 to receive this dividend.

ANF stock was up 26% as of Friday morning and is up 30% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2017/11/abercrombie-fitch-stock-up-on-q3/.

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