Children's Place Sees Q1, FY16 Adj. EPS Above View, Hikes Dividend; Stock Up

(RTTNews) - Children's Place, Inc. (PLCE) said it expects adjusted net income per share in the first quarter of 2016 will be between $1.00 and $1.06, inclusive of an estimated $0.03 negative impact from foreign exchange. Analysts polled by Thomson Reuters expect the company to report earnings of $0.93 per share for the first-quarter. Analysts' estimates typically exclude special items. This compared to adjusted net income per diluted share of $0.83 in the first quarter of 2015. This guidance assumes a positive mid single digit increase in comparable retail sales.

In the pre-market trade, PLCE is currently trading at $73.18, up $2.50 or 3.54%.

For fiscal 2016, the Company expects adjusted net income per share will be in the range of $4.00 to $4.10, inclusive of a $0.16 negative impact from foreign exchange. Analysts expect annual earnings of $3.94. per share. This compares to adjusted net income per share of $3.60 in fiscal 2015. This guidance assumes a positive low single digit increase in comparable retail sales for the year.

Additionally, the Company's Board of Directors increased the quarterly dividend by 33 1/3% from $0.15 per share to $0.20 per share, payable on April 28, 2016 to shareholders of record at the close of business on April 7, 2016.