Gap Inc. (GPS) Forecasted to Earn Q2 2018 Earnings of $0.67 Per Share
Gap Inc. (NYSE:GPS) – Investment analysts at KeyCorp lowered their Q2 2018 earnings per share (EPS) estimates for shares of Gap in a research report issued on Friday. KeyCorp analyst E. Yruma now anticipates that the firm will earn $0.67 per share for the quarter, down from their previous forecast of $0.69. KeyCorp also issued estimates for Gap’s Q3 2018 earnings at $0.55 EPS.
Other equities analysts have also issued reports about the stock. Oppenheimer Holdings Inc. reaffirmed a “” rating and set a $20.00 price target on shares of Gap in a research report on Monday, August 22nd. Vetr lowered shares of Gap from a “strong-buy” rating to a “buy” rating and set a $23.68 target price on the stock. in a report on Thursday, June 30th. Jefferies Group reissued a “buy” rating on shares of Gap in a report on Saturday, July 9th. Canaccord Genuity reissued a “buy” rating on shares of Gap in a report on Wednesday, August 17th. Finally, MKM Partners reissued a “hold” rating and issued a $21.00 target price on shares of Gap in a report on Saturday, July 9th. Seven equities research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Gap currently has an average rating of “Hold” and a consensus target price of $25.09.
Gap (NYSE:GPS) opened at 26.25 on Monday. Gap has a 12-month low of $17.00 and a 12-month high of $30.49. The stock’s 50 day moving average is $23.88 and its 200-day moving average is $23.05. The company has a market cap of $10.46 billion, a P/E ratio of 14.79 and a beta of 1.28.
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Gap (NYSE:GPS) last released its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.79 billion. Gap had a net margin of 4.60% and a return on equity of 33.26%. Gap’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS.
A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in shares of Gap by 4.2% in the first quarter. Legal & General Group Plc now owns 1,119,779 shares of the apparel retailer’s stock valued at $32,922,000 after buying an additional 45,600 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of Gap by 233.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 570,237 shares of the apparel retailer’s stock valued at $12,101,000 after buying an additional 399,449 shares in the last quarter. PGGM Investments boosted its stake in shares of Gap by 79.7% in the second quarter. PGGM Investments now owns 1,695,205 shares of the apparel retailer’s stock valued at $35,972,000 after buying an additional 751,688 shares in the last quarter. Babson Capital Management LLC boosted its stake in shares of Gap by 200.8% in the first quarter. Babson Capital Management LLC now owns 75,195 shares of the apparel retailer’s stock valued at $2,211,000 after buying an additional 50,200 shares in the last quarter. Finally, Beddow Capital Management Inc. bought a new stake in shares of Gap during the first quarter valued at $226,000. 57.42% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio (DPR) is presently 51.98%.
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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