Michael Kors Holdings Ltd (KORS) Releases Q1 Earnings Guidance
Michael Kors Holdings Ltd (NASDAQ:KORS) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.78-0.80 for the period, compared to the Thomson Reuters consensus estimate of $0.79, Analyst Ratings Net reports. The company issued revenue guidance of $840-850, compared to the consensus revenue estimate of $827.58 million.Michael Kors Holdings also updated its FY15 guidance to $3.85-3.91 EPS.
Michael Kors Holdings Ltd (NASDAQ:KORS) opened at 95.74 on Wednesday. Michael Kors Holdings Ltd has a one year low of $56.15 and a one year high of $101.04. The stock’s 50-day moving average is $91.66 and its 200-day moving average is $88.4. The company has a market cap of $19.453 billion and a price-to-earnings ratio of 32.88. Michael Kors Holdings also was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 21,714 put options on the stock. This represents an increase of approximately 659% compared to the typical daily volume of 2,860 put options.
Michael Kors Holdings (NASDAQ:KORS) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.10. The company had revenue of $917.50 million for the quarter, compared to the consensus estimate of $816.51 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 53.6% on a year-over-year basis. On average, analysts predict that Michael Kors Holdings Ltd will post $3.12 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on KORS shares. Analysts at Wedbush raised their price target on shares of Michael Kors Holdings from $100.00 to $108.00 in a research note on Tuesday. They now have an outperform rating on the stock. On a related note, analysts at Cowen and Company reiterated an outperform rating on shares of Michael Kors Holdings in a research note on Friday, May 23rd. They now have a $111.00 price target on the stock, up previously from $97.00. Finally, analysts at Morgan Stanley initiated coverage on shares of Michael Kors Holdings in a research note on Tuesday, May 20th. They set a buy rating and a $117.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Michael Kors Holdings currently has a consensus rating of Buy and a consensus price target of $101.85.
Michael Kors Holdings Limited is a global lifestyle brand . The Company designs, materials and craftsmanship with a jet-set aesthetic that combines stylish elegance and a sporty attitude.
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