American Eagle Posts Mixed Q2: 'Our Strategy Is Off To A Great Start,' CEO Says
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 29 2024
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Source: Benzinga
Mixed Q2 Results: American Eagle Outfitters reported adjusted EPS of 39 cents, exceeding expectations, but revenues rose 8% year-over-year to $1.29 billion, falling short of the anticipated $1.31 billion. Comp sales for American Eagle increased by 5%, while Aerie saw a 9% rise.
Outlook and Stock Reaction: The company projects third-quarter operating income between $120 million to $125 million and has revised its fiscal 2024 revenue growth guidance down to 2%-3%. Following the mixed results, AEO shares dropped 6.68% in premarket trading.
Analyst Views on PSCD
Wall Street analysts forecast PSCD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSCD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
