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Abercrombie & Fitch Shares Plunge after Earnings Warning (ANF)

By Dividend.com,  August 02, 2012, 08:29:44 AM EDT

Teen clothing retailer Abercrombie & Fitch Co. ( ANF ) on Thursday warned its second quarter and full-year earnings would come in well below Wall Street estimates, sending its shares plummeting lower in premarket trading.

The New Albany, OH-based company said it expects second quarter earnings to range from 15 to 18 cents per share, while analysts are looking for a much-higher 25 cents.

For the full year 2012, ANF estimated earnings of $2.50 to $2.75 per share, which would badly miss Wall Street's view of $2.93 per share.

Abercrombie & Fitch shares fell $4.72, or -14%, in premarket trading Thursday.

The Bottom Line
Shares of Abercrombie & Fitch ( ANF ) have a 2.06% dividend yield, based on last night's closing stock price of $34.02. The stock has technical support in the $27-$30 price area. If the shares can firm up, we see overhead resistance around the $40 price levels.

Abercrombie & Fitch Co. ( ANF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: ANF



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