Gap Inc. to Post FY2018 Earnings of $2.30 Per Share, Jefferies Group Forecasts (GPS)
Gap Inc. (NYSE:GPS) – Equities research analysts at Jefferies Group lifted their FY2018 EPS estimates for Gap in a report released on Friday. Jefferies Group analyst R. Konik now anticipates that the firm will earn $2.30 per share for the year, up from their prior estimate of $2.25. Jefferies Group has a “Buy” rating and a $32.00 price objective on the stock.
Other analysts have also issued reports about the stock. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of Gap in a report on Wednesday, June 15th. Cowen and Company restated a “hold” rating on shares of Gap in a report on Saturday, July 9th. Guggenheim restated a “hold” rating on shares of Gap in a report on Saturday, July 9th. MKM Partners restated a “hold” rating and issued a $21.00 price objective on shares of Gap in a report on Saturday, July 9th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Gap in a report on Saturday, July 9th. Seven investment 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. Gap has an average rating of “Hold” and a consensus price target of $25.15.
Gap (NYSE:GPS) traded up 2.0956% during mid-day trading on Monday, hitting $26.8001. 1,507,671 shares of the stock were exchanged. The firm has a market cap of $10.68 billion, a P/E ratio of 15.0986 and a beta of 1.28. The company has a 50 day moving average of $23.88 and a 200 day moving average of $23.05. Gap has a 12-month low of $17.00 and a 12-month high of $30.49.
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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. Gap had a net margin of 4.60% and a return on equity of 33.26%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the business earned $0.64 EPS. The company’s revenue was down 1.2% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a $0.23 dividend. The ex-dividend date is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.50%. Gap’s dividend payout ratio (DPR) is 51.98%.
Several institutional investors have recently added to or reduced their stakes in GPS. Vanguard Group Inc. increased its position in Gap by 2.3% in the second quarter. Vanguard Group Inc. now owns 20,061,541 shares of the apparel retailer’s stock worth $425,706,000 after buying an additional 444,555 shares during the period. American International Group Inc. increased its position in Gap by 3.5% in the second quarter. American International Group Inc. now owns 14,381,188 shares of the apparel retailer’s stock worth $305,169,000 after buying an additional 483,879 shares during the period. Bank of New York Mellon Corp increased its position in Gap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 14,135,669 shares of the apparel retailer’s stock worth $299,958,000 after buying an additional 251,964 shares during the period. JPMorgan Chase & Co. increased its position in Gap by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 13,531,075 shares of the apparel retailer’s stock worth $287,129,000 after buying an additional 936,648 shares during the period. Finally, State Street Corp increased its position in Gap by 1.3% in the first quarter. State Street Corp now owns 10,878,900 shares of the apparel retailer’s stock worth $319,845,000 after buying an additional 140,396 shares during the period. Institutional investors own 57.42% of the company’s stock.
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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