Abercrombie & Fitch Shares Plunge after Earnings Warning (ANF)

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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.

Created by Dividend.com

This article appears in: Investing , Stocks

Referenced Stocks: ANF

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