Michael Kors Holdings Ltd (NYSE:KORS) – Equities research analysts at Oppenheimer issued their Q3 2019 EPS estimates for shares of Michael Kors in a report issued on Wednesday. Oppenheimer analyst A. Andreeva forecasts that the lifestyle brand will post earnings of $1.86 per share for the quarter. Oppenheimer has a “Outperform” rating and a $74.00 price objective on the stock. Oppenheimer also issued estimates for Michael Kors’ Q4 2019 earnings at $0.86 EPS and FY2019 earnings at $4.90 EPS.

Michael Kors (NYSE:KORS) last posted its quarterly earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.48. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS.

Several other analysts have also issued reports on the stock. Wolfe Research upgraded shares of Michael Kors from a “peer perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research report on Thursday, December 14th. ValuEngine raised shares of Michael Kors from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Canaccord Genuity reissued a “buy” rating and issued a $67.00 price objective (up previously from $58.00) on shares of Michael Kors in a research note on Friday, November 3rd. Goldman Sachs Group initiated coverage on shares of Michael Kors in a research note on Tuesday, December 5th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Needham & Company LLC initiated coverage on shares of Michael Kors in a research note on Monday, December 18th. They issued a “buy” rating and a $69.00 price objective for the company. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $62.32.

Michael Kors (NYSE KORS) traded up $0.81 during midday trading on Monday, hitting $63.19. 1,807,488 shares of the company traded hands, compared to its average volume of 2,427,819. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.00 and a quick ratio of 1.06. The firm has a market cap of $9,265.47, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.77 and a beta of 0.08. Michael Kors has a twelve month low of $32.38 and a twelve month high of $69.95.

A number of hedge funds and other institutional investors have recently made changes to their positions in KORS. American Century Companies Inc. grew its holdings in Michael Kors by 2,006.2% in the fourth quarter. American Century Companies Inc. now owns 1,342,506 shares of the lifestyle brand’s stock worth $84,511,000 after purchasing an additional 1,278,764 shares during the period. Bank of Montreal Can grew its holdings in Michael Kors by 568.5% in the fourth quarter. Bank of Montreal Can now owns 1,115,901 shares of the lifestyle brand’s stock worth $70,246,000 after purchasing an additional 948,966 shares during the period. Acadian Asset Management LLC grew its holdings in Michael Kors by 493.5% in the fourth quarter. Acadian Asset Management LLC now owns 939,826 shares of the lifestyle brand’s stock worth $59,163,000 after purchasing an additional 781,460 shares during the period. Ardevora Asset Management LLP acquired a new stake in Michael Kors in the third quarter worth $37,089,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Michael Kors by 205.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,017,371 shares of the lifestyle brand’s stock worth $64,044,000 after purchasing an additional 684,310 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Pascale Meyran sold 6,835 shares of Michael Kors stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total transaction of $410,168.35. Following the completion of the transaction, the senior vice president now owns 10,081 shares of the company’s stock, valued at $604,960.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Krista A. Mcdonough sold 7,500 shares of Michael Kors stock in a transaction on Friday, November 17th. The stock was sold at an average price of $55.93, for a total transaction of $419,475.00. Following the transaction, the senior vice president now directly owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

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Michael Kors Company Profile

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.

Earnings History and Estimates for Michael Kors (NYSE:KORS)

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