Gap Inc. to Post FY2018 Earnings of $2.30 Per Share, Jefferies Group Forecasts (GPS)
Gap Inc. (NYSE:GPS) – Analysts at Jefferies Group upped their FY2018 earnings per share estimates for shares of Gap in a research report issued on Friday. Jefferies Group analyst R. Konik now forecasts that the firm will earn $2.30 per share for the year, up from their prior forecast of $2.25. Jefferies Group has a “Buy” rating and a $32.00 price target on the stock.
Gap (NYSE:GPS) last issued its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Gap had a return on equity of 33.26% and a net margin of 4.60%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. Gap’s revenue for the quarter was down 1.2% compared to the same quarter last year.
A number of other research analysts have also commented on the company. Vetr lowered Gap from a “hold” rating to a “sell” rating and set a $23.22 price objective on the stock. in a research report on Thursday, July 21st. FBR & Co reiterated a “market perform” rating and issued a $22.00 price objective on shares of Gap in a research report on Wednesday, July 6th. Wolfe Research upgraded Gap from a “market perform” rating to an “outperform” rating in a research report on Friday, June 17th. Credit Suisse Group AG reiterated an “underperform” rating and issued a $22.00 price objective (up from $21.00) on shares of Gap in a research report on Friday, August 19th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $20.00 price target on shares of Gap in a research note on Thursday, July 7th. Seven investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.15.
Shares of Gap (NYSE:GPS) traded up 2.10% on Monday, hitting $26.80. The stock had a trading volume of 1,506,958 shares. The company has a market capitalization of $10.68 billion, a P/E ratio of 15.10 and a beta of 1.28. Gap has a one year low of $17.00 and a one year high of $30.49. The firm has a 50 day moving average price of $23.88 and a 200 day moving average price of $23.05.
Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of Gap by 11.7% in the second quarter. Pacer Advisors Inc. now owns 5,777 shares of the apparel retailer’s stock valued at $123,000 after buying an additional 606 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Gap by 22.1% in the second quarter. Advisory Services Network LLC now owns 5,869 shares of the apparel retailer’s stock valued at $125,000 after buying an additional 1,062 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Gap during the second quarter valued at $139,000. Sigma Planning Corp acquired a new stake in shares of Gap during the second quarter valued at $216,000. Finally, Beddow Capital Management Inc. acquired a new stake in shares of Gap during the first quarter valued at $226,000. 57.42% of the stock is currently owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.92 annualized dividend and a dividend yield of 3.50%. Gap’s dividend payout ratio is 51.98%.
Gap Company Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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