KeyCorp Comments on Five Below, Inc.’s Q2 2024 Earnings (NASDAQ:FIVE)

Posted by Defense World Staff on Jun 5th, 2023

Five Below, Inc. (NASDAQ:FIVE – Get Rating) – Investment analysts at KeyCorp lowered their Q2 2024 earnings per share (EPS) estimates for shares of Five Below in a research report issued to clients and investors on Thursday, June 1st. KeyCorp analyst B. Thomas now anticipates that the specialty retailer will post earnings per share of $0.83 for the quarter, down from their previous estimate of $0.90. KeyCorp currently has a “Overweight” rating and a $225.00 price target on the stock. The consensus estimate for Five Below’s current full-year earnings is $5.59 per share. KeyCorp also issued estimates for Five Below’s Q3 2024 earnings at $0.39 EPS, Q4 2024 earnings at $3.60 EPS, FY2024 earnings at $5.50 EPS and FY2025 earnings at $6.45 EPS.

Five Below (NASDAQ:FIVE – Get Rating) last announced its earnings results on Thursday, June 1st. The specialty retailer reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. Five Below had a return on equity of 21.54% and a net margin of 8.42%. The business had revenue of $726.25 million for the quarter, compared to the consensus estimate of $728.20 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue was up 13.5% on a year-over-year basis.

Several other equities research analysts also recently issued reports on FIVE. Oppenheimer restated an “outperform” rating on shares of Five Below in a report on Friday, March 17th. Roth Mkm upgraded Five Below from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $240.00 in a research report on Monday, February 13th. Truist Financial decreased their target price on Five Below from $224.00 to $222.00 in a research report on Friday. TheStreet upgraded Five Below from a “c+” rating to a “b” rating in a research report on Wednesday, March 15th. Finally, Morgan Stanley boosted their price objective on Five Below from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, March 17th. Four investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.22.

Five Below Stock Up 7.8 %

FIVE stock opened at $182.55 on Monday. Five Below has a 52-week low of $109.49 and a 52-week high of $220.19. The stock’s 50 day moving average is $196.94 and its two-hundred day moving average is $190.91. The company has a market capitalization of $10.16 billion, a PE ratio of 38.27, a P/E/G ratio of 1.47 and a beta of 1.17.

Hedge Funds Weigh In On Five Below

Several large investors have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new position in Five Below in the 1st quarter valued at approximately $31,000. IFP Advisors Inc grew its stake in shares of Five Below by 122.7% in the 1st quarter. IFP Advisors Inc now owns 432 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 238 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Five Below by 93.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 193 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 93 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Five Below by 73.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 180 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 76 shares during the period. Finally, CENTRAL TRUST Co grew its stake in shares of Five Below by 29.6% in the 3rd quarter. CENTRAL TRUST Co now owns 350 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 80 shares during the period.

Insider Transactions at Five Below

In other news, Director Ronald Sargent sold 200 shares of the company’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $209.00, for a total transaction of $41,800.00. Following the completion of the sale, the director now owns 15,030 shares in the company, valued at approximately $3,141,270. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Ronald Sargent sold 200 shares of the company’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $209.00, for a total transaction of $41,800.00. Following the completion of the sale, the director now owns 15,030 shares in the company, valued at approximately $3,141,270. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Catherine Elizabeth Buggeln sold 2,253 shares of the business’s stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $218.04, for a total value of $491,244.12. Following the transaction, the director now directly owns 7,141 shares of the company’s stock, valued at approximately $1,557,023.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,538 shares of company stock worth $6,879,774. 1.80% of the stock is owned by corporate insiders.

Five Below Company Profile

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Five Below, Inc operates as a specialty value retailer. It operates through the following segments: Leisure, Fashion and Home, and Party and Snack. The Leisure segment includes items such as sporting goods, games, toys, tech, books, electronic accessories, and arts and crafts. The Fashion and Home segment consists of personal accessories, “attitude“ t-shirts, beauty offerings, home goods, and storage options.

Earnings History and Estimates for Five Below (NASDAQ:FIVE)

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