Gap Inc. (GPS) Posts Earnings Results, Meets Estimates
Gap Inc. (NYSE:GPS) issued its quarterly earnings data on Thursday. The apparel retailer reported $0.60 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.60. The firm earned $3.80 billion during the quarter, compared to analyst estimates of $3.74 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. Gap updated its FY17 guidance to $1.87-1.92 EPS.
Shares of Gap (NYSE:GPS) opened at 30.71 on Friday. The company’s 50-day moving average is $26.14 and its 200 day moving average is $23.27. The stock has a market cap of $12.24 billion, a PE ratio of 17.30 and a beta of 1.06. Gap has a 52 week low of $17.00 and a 52 week high of $30.74.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 30th. This represents a $0.92 annualized dividend and a yield of 3.00%. Gap’s dividend payout ratio is presently 51.98%.
Several research analysts recently commented on GPS shares. Vetr lowered Gap from a “hold” rating to a “sell” rating and set a $23.22 price target for the company. in a research report on Thursday, July 21st. Wolfe Research upgraded Gap from a “peer perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Monday, July 25th. Standpoint Research lowered Gap from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Wells Fargo & Co. reiterated a “market perform” rating and issued a $26.00 price target (up previously from $21.00) on shares of Gap in a research report on Tuesday, July 26th. Finally, FBR & Co set a $22.00 price target on Gap and gave the stock a “hold” rating in a research report on Friday, August 5th. Five equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $24.58.
Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. increased its position 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 during the last quarter. Advisory Services Network LLC increased 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 during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Gap during the second quarter valued at $139,000. Toronto Dominion Bank increased its stake in shares of Gap by 362.7% in the third quarter. Toronto Dominion Bank now owns 6,691 shares of the apparel retailer’s stock valued at $149,000 after buying an additional 5,245 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Gap during the third quarter valued at $161,000. 57.23% of the stock is currently owned by institutional investors.
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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