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The Zacks Analyst Blog Highlights: Conn's, Abercrombie & Fitch, ASOS, Signet Jewelers and The Children's Place
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For Immediate Release
Chicago, IL – February 3, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Conn's, Inc. (CONN - Free Report) , Abercrombie & Fitch Co. (ANF - Free Report) , ASOS plc (ASOMY - Free Report) , Signet Jewelers Ltd. (SIG - Free Report) and The Children's Place, Inc. (PLCE - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
These 5 Retail Stocks Are New Strong Buys
This year promises to be a much better one for retailers, with most projections calling for low single-digit growth this year over a low-single-digit decline in 2020. But all of this is expected to really hit in the second half of the year, when the Covid vaccines reach more people and pent-up demand driving people to stores.
Until then, we’ll see some more people moving out, but others preferring to stay in as new infection rates continue to rise.
Encouragingly, the U.S. Conference Board’s Consumer Confidence Index moved up to 89.3 in January, better than the forecasted 89.0 and up from 88.6 in December 2020. This means increased consumer confidence in the economy, which is seen in increased consumer spending, which is of course good news for retailers.
But not all retailers will be equally benefited. Those that are ahead in the adoption of digital technologies such as click and collect, cashierless checkout, contactless payment and digital signage will do better than others. Market researchers also expect increased consumer preference for a buy now-pay later option, as many people have not returned to work or are working at lower rates.
The following is a list of retailers that are seeing their estimates move up. As a result, they have just been upgraded to Zacks #1 (Strong Buy).
Conns is a specialty retailer of home appliances like refrigerators, freezers, washers, dryers and ranges; consumer electronics like projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products; and home office equipment, lawn and garden products and bedding. It currently operates retail locations in Texas and Louisiana.
In the last 30 days, the Zacks Consensus Estimate for 2021 (ending January) has gone from a loss of 72 cents to a loss of 65 cents while the estimate for 2022 moved from a profit of $1.15 to $1.30. While revenue and profits are expected to decline in 2021, the estimates for 2022 represent growth of 5.0% and 299.1%, respectively.
Abercrombie & Fitch Company is a specialty retailer of premium, high-quality casual apparel for men, women, and kids through a network of approximately 850 stores across North America, Europe, Asia and the Middle East.
In the last 30 days, the Zacks Consensus Estimate for 2021 (ending January) has gone from a loss of $1.37 to a loss of $1.11 while the estimate for 2022 moved from a profit of $1.02 to $1.12. While revenue and profits are expected to decline in 2021, the estimates for 2022 represent growth of 10.7% and 201.4%, respectively.
ASOS plc is a fashion retailer selling branded and own branded clothing, footwear, accessories, jewelry, beauty and streaming products to both men and women.
In the last 30 days, the Zacks Consensus Estimate for 2021 (ending in August) went from $1.37 to $1.59 while the estimate for 2022 went from $1.82 to $1.94. The company’s 2021 revenue is currently expected to grow 45.3% this year even as earnings decline 1.9%. The 2022 estimates for revenue and earnings represent growth of 17.0% and 22.0%, respectively.
Signet Jewelers sells diamond jewelry, watches as well as other products.
In the last 30 days, its estimated earnings for 2021 (ending January) moved up from 59 to $1.39 while the estimated earnings for 2022 moved from $3.39 to $3.91. While revenue and earnings are expected to decline in 2021, they are expected to be up respectively 10.5% and 181.5%.
The Childrens Place is the largest pure-play children’s specialty apparel retailer in North America selling apparel, footwear, accessories and other items under the brand names “The Children’s Place,” “Place,” “Baby Place” and “Gymboree.”
In the last 30 days, the estimated loss for 2021 (ending January) went down from $2.49 to $2.41 while the estimated earnings for 2022 went from $3.04 to $3.23. 2021 revenue and earnings are expected to decline while 2022 numbers are expected to be up a respective 14.4% and 233.8%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Conn's, Abercrombie & Fitch, ASOS, Signet Jewelers and The Children's Place
For Immediate Release
Chicago, IL – February 3, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Conn's, Inc. (CONN - Free Report) , Abercrombie & Fitch Co. (ANF - Free Report) , ASOS plc (ASOMY - Free Report) , Signet Jewelers Ltd. (SIG - Free Report) and The Children's Place, Inc. (PLCE - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
These 5 Retail Stocks Are New Strong Buys
This year promises to be a much better one for retailers, with most projections calling for low single-digit growth this year over a low-single-digit decline in 2020. But all of this is expected to really hit in the second half of the year, when the Covid vaccines reach more people and pent-up demand driving people to stores.
Until then, we’ll see some more people moving out, but others preferring to stay in as new infection rates continue to rise.
Encouragingly, the U.S. Conference Board’s Consumer Confidence Index moved up to 89.3 in January, better than the forecasted 89.0 and up from 88.6 in December 2020. This means increased consumer confidence in the economy, which is seen in increased consumer spending, which is of course good news for retailers.
But not all retailers will be equally benefited. Those that are ahead in the adoption of digital technologies such as click and collect, cashierless checkout, contactless payment and digital signage will do better than others. Market researchers also expect increased consumer preference for a buy now-pay later option, as many people have not returned to work or are working at lower rates.
The following is a list of retailers that are seeing their estimates move up. As a result, they have just been upgraded to Zacks #1 (Strong Buy).
Conns is a specialty retailer of home appliances like refrigerators, freezers, washers, dryers and ranges; consumer electronics like projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products; and home office equipment, lawn and garden products and bedding. It currently operates retail locations in Texas and Louisiana.
In the last 30 days, the Zacks Consensus Estimate for 2021 (ending January) has gone from a loss of 72 cents to a loss of 65 cents while the estimate for 2022 moved from a profit of $1.15 to $1.30. While revenue and profits are expected to decline in 2021, the estimates for 2022 represent growth of 5.0% and 299.1%, respectively.
Abercrombie & Fitch Company is a specialty retailer of premium, high-quality casual apparel for men, women, and kids through a network of approximately 850 stores across North America, Europe, Asia and the Middle East.
In the last 30 days, the Zacks Consensus Estimate for 2021 (ending January) has gone from a loss of $1.37 to a loss of $1.11 while the estimate for 2022 moved from a profit of $1.02 to $1.12. While revenue and profits are expected to decline in 2021, the estimates for 2022 represent growth of 10.7% and 201.4%, respectively.
ASOS plc is a fashion retailer selling branded and own branded clothing, footwear, accessories, jewelry, beauty and streaming products to both men and women.
In the last 30 days, the Zacks Consensus Estimate for 2021 (ending in August) went from $1.37 to $1.59 while the estimate for 2022 went from $1.82 to $1.94. The company’s 2021 revenue is currently expected to grow 45.3% this year even as earnings decline 1.9%. The 2022 estimates for revenue and earnings represent growth of 17.0% and 22.0%, respectively.
Signet Jewelers sells diamond jewelry, watches as well as other products.
In the last 30 days, its estimated earnings for 2021 (ending January) moved up from 59 to $1.39 while the estimated earnings for 2022 moved from $3.39 to $3.91. While revenue and earnings are expected to decline in 2021, they are expected to be up respectively 10.5% and 181.5%.
The Childrens Place is the largest pure-play children’s specialty apparel retailer in North America selling apparel, footwear, accessories and other items under the brand names “The Children’s Place,” “Place,” “Baby Place” and “Gymboree.”
In the last 30 days, the estimated loss for 2021 (ending January) went down from $2.49 to $2.41 while the estimated earnings for 2022 went from $3.04 to $3.23. 2021 revenue and earnings are expected to decline while 2022 numbers are expected to be up a respective 14.4% and 233.8%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.