The Gap Inc. (GPS) Releases Q2 Earnings Guidance
The Gap Inc. (NYSE:GPS) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.68-0.69 for the period, compared to the Thomson Reuters consensus estimate of $0.66, Stock Ratings Network.com reports. The company issued revenue guidance of $3.98 billion, compared to the consensus revenue estimate of $3.96 billion.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of The Gap from $51.00 to $50.00 in a research note on Friday, July 11th. They now have a buy rating on the stock. On a related note, analysts at Sterne Agee cut their price target on shares of The Gap from $47.00 to $46.00 in a research note on Friday, July 11th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $42.74.
The Gap Inc. (NYSE:GPS) traded down 0.67% during mid-day trading on Thursday, hitting $40.20. The stock had a trading volume of 3,298,652 shares. The Gap Inc. has a 1-year low of $36.13 and a 1-year high of $46.36. The stock’s 50-day moving average is $40.70 and its 200-day moving average is $40.62. The company has a market cap of $17.717 billion and a P/E ratio of 15.49.
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. On average, analysts predict that The Gap Inc. will post $2.94 earnings per share for the current fiscal year.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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