Gap Inc. (GPS) Set to Announce Quarterly Earnings on Thursday
Gap Inc. (NYSE:GPS) will be announcing its earnings results on Thursday, November 17th. Analysts expect the company to announce earnings of $0.60 per share for the quarter. Gap has set its FY17 guidance at $1.87-1.92 EPS.
Gap (NYSE:GPS) last announced its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, topping 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 company earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, analysts expect Gap to post $2.02 EPS for the current fiscal year and $2.12 EPS for the next fiscal year.
Shares of Gap Inc. (NYSE:GPS) opened at 29.84 on Wednesday. Gap Inc. has a 52 week low of $17.00 and a 52 week high of $30.49. The company has a 50-day moving average price of $25.49 and a 200-day moving average price of $23.13. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 16.81 and a beta of 1.06.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, December 30th. Gap’s dividend payout ratio (DPR) is presently 51.98%.
GPS has been the topic of several recent analyst reports. Oppenheimer Holdings Inc. reissued a “” rating and set a $20.00 target price on shares of Gap in a research note on Monday, August 22nd. Vetr downgraded Gap from a “strong-buy” rating to a “buy” rating and set a $27.03 price objective on the stock. in a research note on Friday, August 12th. Canaccord Genuity reaffirmed a “buy” rating on shares of Gap in a research note on Wednesday, August 17th. Jefferies Group lifted their price objective on Gap from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Gap in a research note on Tuesday, November 8th. Five equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.58.
Several institutional investors have recently added to or reduced their stakes in GPS. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Gap during the third quarter valued at $1,557,000. Xact Kapitalforvaltning AB purchased a new position in Gap during the third quarter valued at $551,000. Highbridge Capital Management LLC purchased a new position in Gap during the third quarter valued at $409,000. The Manufacturers Life Insurance Company purchased a new position in Gap during the third quarter valued at $5,474,000. Finally, United Services Automobile Association increased its position in Gap by 48.8% in the third quarter. United Services Automobile Association now owns 104,389 shares of the apparel retailer’s stock valued at $2,322,000 after buying an additional 34,238 shares during the period. Institutional investors and hedge funds own 57.23% of the company’s stock.
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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