Torrid (NYSE:CURV) Releases Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Torrid reported quarterly EPS of $0.05, beating analysts’ consensus estimate of a $0.03 loss by $0.08. Revenue totaled $231.73 million, below expectations of $237.24 million.
• Shares fell 2.2% to $2.22 following the results. Torrid has a market capitalization of approximately $220.9 million and has traded between $0.94 and $2.86 over the past year.
• Analyst sentiment remains cautious, with one Buy, five Hold, and two Sell ratings; the consensus rating is “Reduce” with a target price of $1.64. Institutional investors own 81.82% of the stock.

Torrid (NYSE:CURV - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.08, FiscalAI reports. The firm had revenue of $231.73 million for the quarter, compared to analysts' expectations of $237.24 million.

Torrid Stock Down 2.2%

Torrid stock traded down $0.05 during trading on Thursday, hitting $2.22. The stock had a trading volume of 556,240 shares, compared to its average volume of 569,732. The stock's 50 day moving average is $2.22 and its two-hundred day moving average is $1.80. Torrid has a 1 year low of $0.94 and a 1 year high of $2.86. The stock has a market cap of $220.93 million, a price-to-earnings ratio of -18.50 and a beta of 0.84.

Institutional Trading of Torrid

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Torrid by 338.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,039 shares of the company's stock valued at $269,000 after purchasing an additional 37,850 shares in the last quarter. Rhumbline Advisers raised its position in shares of Torrid by 27.1% in the first quarter. Rhumbline Advisers now owns 21,886 shares of the company's stock worth $120,000 after buying an additional 4,673 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Torrid by 15.1% in the second quarter. Geode Capital Management LLC now owns 413,370 shares of the company's stock worth $1,220,000 after buying an additional 54,199 shares in the last quarter. Creative Planning boosted its stake in Torrid by 45.4% during the second quarter. Creative Planning now owns 37,291 shares of the company's stock valued at $110,000 after buying an additional 11,641 shares during the period. Finally, Marshall Wace LLP purchased a new position in Torrid during the second quarter worth about $346,000. 81.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CURV. BTIG Research reissued a "neutral" rating on shares of Torrid in a research report on Friday, June 5th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $1.80 target price on shares of Torrid in a report on Monday, July 6th. Wall Street Zen upgraded Torrid from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. Weiss Ratings reissued a "sell (d)" rating on shares of Torrid in a research report on Friday, July 17th. Finally, Zacks Research downgraded Torrid from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Torrid presently has an average rating of "Reduce" and a consensus target price of $1.64.

Torrid Company Profile

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women's fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company's product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion‐forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall‐based store footprint to become a multichannel business.

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