Wall Street brokerages expect that Michael Kors Holdings Ltd (NYSE:KORS) will post earnings of $1.27 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Michael Kors’ earnings. The lowest EPS estimate is $1.22 and the highest is $1.33. Michael Kors posted earnings of $1.64 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 22.6%. The business is expected to announce its next quarterly earnings results on Tuesday, February 6th.

On average, analysts expect that Michael Kors will report full year earnings of $3.96 per share for the current financial year, with EPS estimates ranging from $3.86 to $4.08. For the next year, analysts anticipate that the firm will post earnings of $4.06 per share, with EPS estimates ranging from $3.44 to $4.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Michael Kors.

Michael Kors (NYSE:KORS) last released its earnings results on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, topping the consensus estimate of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis.

Several research analysts have issued reports on the company. TheStreet upgraded Michael Kors from a “c+” rating to a “b” rating in a report on Monday, November 6th. ValuEngine upgraded Michael Kors from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Canaccord Genuity upgraded Michael Kors from a “hold” rating to a “buy” rating and increased their price target for the stock from $43.00 to $58.00 in a report on Wednesday, September 27th. Oppenheimer set a $55.00 price target on Michael Kors and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, Zacks Investment Research upgraded Michael Kors from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Michael Kors currently has a consensus rating of “Hold” and an average price target of $52.81.

Michael Kors (KORS) traded up $0.85 during midday trading on Friday, reaching $65.86. The company had a trading volume of 1,654,182 shares, compared to its average volume of 1,269,095. Michael Kors has a fifty-two week low of $32.38 and a fifty-two week high of $65.96. The firm has a market capitalization of $10,015.13, a PE ratio of 18.35, a P/E/G ratio of 2.22 and a beta of 0.12.

In other news, SVP Pascale Meyran sold 6,835 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $60.01, for a total value of $410,168.35. Following the transaction, the senior vice president now owns 10,081 shares in the company, valued at $604,960.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Krista A. Mcdonough sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.93, for a total value of $419,475.00. Following the completion of the transaction, the senior vice president now owns 10,647 shares in the company, valued at approximately $595,486.71. The disclosure for this sale can be found here. Insiders sold 16,835 shares of company stock worth $964,403 in the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of KORS. CAPROCK Group Inc. purchased a new stake in shares of Michael Kors during the fourth quarter valued at approximately $219,000. First Allied Advisory Services Inc. increased its position in shares of Michael Kors by 5.3% during the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after acquiring an additional 337 shares during the last quarter. Hikari Power Ltd purchased a new stake in shares of Michael Kors during the third quarter valued at approximately $252,000. Sei Investments Co. increased its position in shares of Michael Kors by 65.1% during the third quarter. Sei Investments Co. now owns 5,466 shares of the lifestyle brand’s stock valued at $262,000 after acquiring an additional 2,156 shares during the last quarter. Finally, Sciencast Management LP purchased a new stake in shares of Michael Kors during the second quarter valued at approximately $264,000. 86.44% of the stock is owned by institutional investors.

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About Michael Kors

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.

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