Torrid (NYSE:CURV) Announces Earnings Results, Beats Expectations By $0.04 EPS

Torrid (NYSE:CURV) issued its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.04, Briefing.com reports. Torrid had a negative return on equity of 5.41% and a net margin of 1.01%. The firm had revenue of $293.54 million during the quarter, compared to the consensus estimate of $276.20 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Torrid updated its FY 2024 guidance to EPS and its Q1 2024 guidance to EPS.

Torrid Trading Up 6.3 %

NYSE CURV opened at $4.88 on Friday. Torrid has a 12 month low of $1.21 and a 12 month high of $6.86. The company has a market capitalization of $508.01 million, a PE ratio of 48.80 and a beta of 2.01. The stock has a 50-day simple moving average of $4.70 and a 200 day simple moving average of $3.92.

Analyst Ratings Changes

A number of brokerages have weighed in on CURV. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $5.00 target price on shares of Torrid in a research note on Monday. Morgan Stanley increased their price objective on Torrid from $2.00 to $4.00 and gave the company an “equal weight” rating in a research report on Friday, December 8th. Finally, B. Riley initiated coverage on Torrid in a research report on Thursday, February 8th. They set a “buy” rating and a $7.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.80.

Insiders Place Their Bets

In other Torrid news, Director Valeria Rico Nikolov sold 25,380 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $5.62, for a total value of $142,635.60. Following the completion of the sale, the director now owns 51,457 shares of the company’s stock, valued at $289,188.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.23% of the company’s stock.

Institutional Investors Weigh In On Torrid

A number of hedge funds have recently modified their holdings of CURV. Vanguard Group Inc. lifted its stake in Torrid by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 224,181 shares of the company’s stock valued at $1,294,000 after buying an additional 5,515 shares in the last quarter. Barclays PLC raised its position in Torrid by 1,008.4% in the 4th quarter. Barclays PLC now owns 16,438 shares of the company’s stock valued at $95,000 after buying an additional 14,955 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Torrid by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 72,701 shares of the company’s stock worth $161,000 after acquiring an additional 3,666 shares in the last quarter. XTX Topco Ltd acquired a new position in Torrid during the second quarter worth $36,000. Finally, Marshall Wace LLP acquired a new stake in shares of Torrid in the second quarter valued at about $88,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

Torrid Company Profile

Torrid Holdings Inc 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, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.