Brokerages Anticipate Gap, Inc. (The) (GPS) Will Announce Quarterly Sales of $3.78 Billion
Brokerages expect Gap, Inc. (The) (NYSE:GPS) to report sales of $3.78 billion for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Gap, Inc. (The)’s earnings. The lowest sales estimate is $3.69 billion and the highest is $3.85 billion. Gap, Inc. (The) posted sales of $3.80 billion during the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The business is scheduled to issue its next earnings report on Thursday, November 16th.
According to Zacks, analysts expect that Gap, Inc. (The) will report full-year sales of $3.78 billion for the current financial year, with estimates ranging from $15.26 billion to $15.87 billion. For the next year, analysts anticipate that the firm will report sales of $15.71 billion per share, with estimates ranging from $15.09 billion to $16.15 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Gap, Inc. (The).
Gap, Inc. (The) (NYSE:GPS) last announced its earnings results on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Gap, Inc. (The) had a return on equity of 28.50% and a net margin of 5.42%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue was down 1.4% compared to the same quarter last year.
GPS has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Monday, September 11th. ValuEngine cut shares of Gap, Inc. (The) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Citigroup Inc. upgraded shares of Gap, Inc. (The) from a “sell” rating to a “neutral” rating and increased their price target for the company from $22.00 to $24.00 in a report on Friday, September 1st. CIBC upgraded shares of Gap, Inc. (The) from a “market perform” rating to an “outperform” rating in a report on Monday, June 5th. Finally, Instinet reiterated a “neutral” rating and set a $25.00 price target on shares of Gap, Inc. (The) in a report on Sunday, August 20th. Three research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $26.55.
Shares of Gap, Inc. (NYSE:GPS) traded up 1.79% during trading on Thursday, hitting $28.36. The stock had a trading volume of 5,120,499 shares. The stock has a 50 day moving average of $24.44 and a 200 day moving average of $23.86. Gap, Inc. has a 52-week low of $21.02 and a 52-week high of $30.74. The firm has a market cap of $11.12 billion, a PE ratio of 16.39 and a beta of 0.82.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.24%. Gap, Inc. (The)’s dividend payout ratio is currently 43.81%.
In other Gap, Inc. (The) news, EVP Paul Joseph Chapman sold 4,898 shares of Gap, Inc. (The) stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $22.82, for a total value of $111,772.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Sydney Fisher sold 666,849 shares of Gap, Inc. (The) stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $27.99, for a total transaction of $18,665,103.51. Following the completion of the sale, the director now owns 12,237,873 shares in the company, valued at $342,538,065.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 676,682 shares of company stock worth $18,896,710. 27.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Gap, Inc. (The) by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 23,743,881 shares of the apparel retailer’s stock valued at $522,127,000 after acquiring an additional 643,396 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Gap, Inc. (The) by 1.5% in the 2nd quarter. BlackRock Inc. now owns 23,076,989 shares of the apparel retailer’s stock worth $507,464,000 after buying an additional 338,876 shares during the last quarter. American International Group Inc. increased its holdings in shares of Gap, Inc. (The) by 1.2% in the 1st quarter. American International Group Inc. now owns 16,667,815 shares of the apparel retailer’s stock worth $404,861,000 after buying an additional 201,177 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Gap, Inc. (The) by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,680,123 shares of the apparel retailer’s stock worth $212,867,000 after buying an additional 57,609 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Gap, Inc. (The) by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 5,617,494 shares of the apparel retailer’s stock worth $123,529,000 after buying an additional 15,504 shares during the last quarter. Institutional investors own 56.22% of the company’s stock.
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Gap, Inc. (The) 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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