The Gap Inc. Announces Quarterly Dividend of $0.22 (GPS)
The Gap (NYSE:GPS) announced a quarterly dividend on Friday, August 15th, American Banking News reports. Investors of record on Wednesday, October 8th will be paid a dividend of 0.22 per share on Wednesday, October 29th. This represents a $0.88 annualized dividend and a dividend yield of 2.09%.
A number of analysts have recently weighed in on GPS shares. Analysts at Credit Suisse initiated coverage on shares of The Gap in a research note on Monday. They set a “neutral” rating and a $44.00 price target on the stock. On a related note, 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. Finally, 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. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The Gap presently has a consensus rating of “Hold” and a consensus target price of $41.24.
The Gap (NYSE:GPS) traded down 0.55% on Friday, hitting $41.91. The stock had a trading volume of 2,574,545 shares. The Gap has a 52 week low of $36.13 and a 52 week high of $44.59. The stock’s 50-day moving average is $40.76 and its 200-day moving average is $40.75. The company has a market cap of $18.471 billion and a price-to-earnings ratio of 16.13.
The Gap (NYSE:GPS) last announced its earnings results 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 $2.96 EPS for the current fiscal year.
In other The Gap news, EVP John T. Keiser sold 25,000 shares of The Gap stock on the open market in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $42.50, for a total transaction of $1,062,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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