American Eagle Outfitters Shares Up 3.9% (AEO)

Shares of American Eagle Outfitters, Inc. AEO are trading up 3.9% at $16.47 per share during the Thursday afternoon trading session. The day's trading range for shares of American Eagle Outfitters, Inc has been between $15.72 and $16.75 per share. Analysts covering the company's stock give it a consensus price target of $16.57 per share. Volume of 6.4 million shares is already well above the daily average volume of 5.1 million shares. American Eagle Outfitters, Inc. (AEO) released financial results on Thursday morning. American Eagle Outfitters, Inc announced 3rd quarter adjusted earnings per share of 29 cents, on revenue of $751.51 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 29 cents per share, on revenue of $748.91 million. Chief executive officer Jim O'Donnell said, “Our third quarter results reflect meaningful progress toward our goals and demonstrate the positive impact of recent initiatives. We achieved sales growth with less reliance on promotional activity. Our operating income improvement stemmed from stronger merchandising, well positioned inventories and expense management. Looking ahead, I am confident that we can achieve further recovery in operating profits over the course of the next 12 to 18 months.” Read more from Benzinga's Company news.