American Eagle Outfitters Inc (NYSE:AEO) reported better-than-expected third-quarter results on Tuesday.
American Eagle reported third-quarter revenue of $1.36 billion, beating analyst estimates of $1.32 billion, according to Benzinga Pro. The company reported third-quarter adjusted earnings of 53 cents per share, beating estimates of 44 cents per share.
“Strong momentum has continued into the fourth quarter, including an excellent start to the holiday season. We delivered a record-breaking Thanksgiving weekend, led by an acceleration in demand across brands and channels and underscored by outstanding growth at Aerie and Offline,” said Jay Schottenstein, executive chair and CEO of American Eagle Outfitters.
American Eagle raised its fourth-quarter operating income guidance to a range of $155 million to $160 million, citing strong sales trends. Comparable sales are expected to climb 8% to 9% on a year-over-year basis in the fourth quarter.
American Eagle shares gained 16.7% to trade at $24.32 on Wednesday.
These analysts made changes to their price targets on American Eagle following earnings announcement.
- Barclays analyst Adrienne Yih maintained American Eagle with an Underweight rating and raised the price target from $14 to $20.
- JP Morgan analyst Matthew Boss upgraded American Eagle from Underweight to Neutral and raised the price target from $14 to $20.
- Telsey Advisory Group analyst Dana Telsey maintained the stock with a Market Perform and raised the price target from $18 to $25.
- B of A Securities analyst Christopher Nardone maintained American Eagle with an Underperform rating and raised the price target from $11 to $18.
- UBS analyst Jay Sole maintained American Eagle Outfitters with a Buy and raised the price target from $22 to $31.
Considering buying AEO stock? Here’s what analysts think:
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