The Gap Coverage Initiated by Analysts at Wedbush (GPS)
The Gap (NYSE:GPS) traded up 1.06% during mid-day trading on Wednesday, hitting $41.15. The stock had a trading volume of 4,084,876 shares. The Gap has a 1-year low of $36.13 and a 1-year high of $46.56. The stock’s 50-day moving average is $40.03 and its 200-day moving average is $40.18. The company has a market cap of $18.229 billion and a price-to-earnings ratio of 15.59.
The Gap (NYSE:GPS) last released its earnings data on Thursday, May 22nd. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.01. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the company posted $0.71 earnings per share. The Gap’s revenue was down 99.9% compared to the same quarter last year. Analysts expect that The Gap will post $2.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 30th. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Monday, July 7th.
In other The Gap news, major shareholder John J. Fisher unloaded 152,379 shares of The Gap stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $41.27, for a total value of $6,288,681.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
A number of other firms have also recently commented on GPS. Analysts at Canaccord Genuity raised their price target on shares of The Gap from $45.00 to $47.00 in a research note on Friday, May 9th. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Gap in a research note on Friday, April 11th. They now have a $41.00 price target on the stock. Finally, analysts at Telsey Advisory Group cut their price target on shares of The Gap from $50.00 to $46.00 in a research note on Friday, April 11th. They now have a “not rated” rating on the stock. Seventeen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.10.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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