ASOS (LON:ASC) Issues Quarterly Earnings Results

ASOS (LON:ASC) announced its earnings results on Wednesday, April 10th. The company reported GBX 3.60 ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of GBX 3.10 ($0.04) by GBX 0.50 ($0.01), Digital Look Earnings reports.

Shares of LON ASC traded up GBX 105 ($1.37) during midday trading on Friday, hitting GBX 3,977 ($51.97). 323,710 shares of the company’s stock were exchanged, compared to its average volume of 293,510. The company has a current ratio of 0.85, a quick ratio of 0.11 and a debt-to-equity ratio of 12.69. ASOS has a 12 month low of GBX 2,114 ($27.62) and a 12 month high of GBX 6,896 ($90.11). The company has a market capitalization of $3.33 billion and a P/E ratio of 54.86.

A number of research analysts recently commented on ASC shares. Credit Suisse Group restated an “outperform” rating on shares of ASOS in a research note on Monday, April 29th. Royal Bank of Canada increased their target price on ASOS from GBX 3,600 ($47.04) to GBX 4,300 ($56.19) and gave the stock an “outperform” rating in a report on Monday, April 15th. Goldman Sachs Group set a GBX 4,300 ($56.19) target price on ASOS and gave the stock a “buy” rating in a report on Monday, April 15th. Barclays raised their price target on ASOS from GBX 4,000 ($52.27) to GBX 4,200 ($54.88) and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, UBS Group restated a “buy” rating and set a GBX 3,500 ($45.73) target price on shares of ASOS in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. ASOS has an average rating of “Buy” and a consensus target price of GBX 4,621.59 ($60.39).

In other news, insider Nicholas Robertson sold 410,000 shares of ASOS stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of GBX 3,722 ($48.63), for a total transaction of £15,260,200 ($19,940,154.19).

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ASOS Company Profile

ASOS Plc, together with its subsidiaries, operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, and Russia. The company offers womenswear, menswear, and sportswear products. It sells approximately 85,000 branded and ASOS brand products primarily through its Website, asos.com, as well as through social media platforms and magazines.

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