Gap Inc. (NYSE:GPS) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.87-1.92 for the period, compared to the Thomson Reuters consensus estimate of $2.00.

Shares of Gap Inc. (NYSE:GPS) opened at 30.71 on Friday. The company has a 50 day moving average price of $26.14 and a 200-day moving average price of $23.27. The firm has a market cap of $12.24 billion, a P/E ratio of 17.30 and a beta of 1.06. Gap Inc. has a 52-week low of $17.00 and a 52-week high of $30.74.

Gap (NYSE:GPS) last issued its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. Gap had a return on equity of 33.26% and a net margin of 4.60%. The firm earned $3.80 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the business posted $0.63 EPS. The business’s revenue was down 1.5% compared to the same quarter last year. On average, analysts expect that Gap Inc. will post $2.02 earnings per share for the current fiscal year.

Earnings History and Estimates for Gap (NYSE:GPS)

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, December 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.00%. Gap’s payout ratio is currently 51.98%.

A number of brokerages have weighed in on GPS. Mizuho increased their price target on Gap from $24.00 to $26.00 and gave the stock a neutral rating in a report on Tuesday, November 8th. Jefferies Group reissued a buy rating on shares of Gap in a research report on Monday, August 29th. Vetr raised shares of Gap from a sell rating to a hold rating and set a $25.65 price objective on the stock in a research report on Monday, July 25th. Wolfe Research reissued an outperform rating and set a $33.00 price objective (up previously from $30.00) on shares of Gap in a research report on Tuesday, November 8th. Finally, Canaccord Genuity reissued a buy rating on shares of Gap in a research report on Wednesday, August 17th. Five 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 stock. The stock currently has an average rating of Hold and a consensus target price of $24.58.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Gap by 9.5% in the second quarter. BlackRock Inc. now owns 469,375 shares of the apparel retailer’s stock valued at $9,960,000 after buying an additional 40,653 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Gap by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,451,773 shares of the apparel retailer’s stock valued at $136,907,000 after buying an additional 73,041 shares in the last quarter. Advantus Capital Management Inc boosted its position in shares of Gap by 1.4% in the second quarter. Advantus Capital Management Inc now owns 21,945 shares of the apparel retailer’s stock valued at $466,000 after buying an additional 305 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Gap by 3.6% in the second quarter. HighTower Advisors LLC now owns 21,760 shares of the apparel retailer’s stock valued at $459,000 after buying an additional 763 shares in the last quarter. Finally, Employees Retirement System of Texas boosted its position in shares of Gap by 180.0% in the second quarter. Employees Retirement System of Texas now owns 28,000 shares of the apparel retailer’s stock valued at $594,000 after buying an additional 18,000 shares in the last quarter. Institutional investors own 57.23% of the company’s stock.

About Gap

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.

5 Day Chart for NYSE:GPS

Receive News & Stock Ratings for Gap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gap Inc. and related stocks with our FREE daily email newsletter.