Gap Inc. (GPS) Receives “Neutral” Rating from MKM Partners
Gap Inc. (NYSE:GPS)‘s stock had its “neutral” rating reissued by investment analysts at MKM Partners in a research note issued to investors on Wednesday. They presently have a $25.00 price target on the apparel retailer’s stock. MKM Partners’ target price indicates a potential downside of 5.87% from the stock’s current price.
A number of other research analysts also recently commented on GPS. Cowen and Company reiterated a “hold” rating on shares of Gap in a research report on Saturday, July 9th. Guggenheim reiterated a “hold” rating on shares of Gap in a research report on Saturday, July 9th. Wedbush reiterated a “hold” rating on shares of Gap in a research report on Saturday, July 9th. Jefferies Group reiterated a “buy” rating on shares of Gap in a research report on Saturday, July 9th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Gap in a research report on Saturday, July 9th. Six investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $25.29.
Shares of Gap (NYSE:GPS) traded up 0.960% on Wednesday, hitting $26.815. 2,738,994 shares of the company traded hands. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 15.107 and a beta of 1.28. Gap has a 1-year low of $17.00 and a 1-year high of $30.49. The firm’s 50 day moving average price is $23.86 and its 200-day moving average price is $22.97.
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Gap (NYSE:GPS) last posted its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm earned $3.85 billion during the quarter, compared to the consensus estimate of $3.79 billion. Gap had a return on equity of 33.26% and a net margin of 4.60%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. On average, equities research analysts expect that Gap will post ($0.01) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Monday, October 3rd. Gap’s dividend payout ratio (DPR) is presently 51.98%.
Hedge funds have recently bought and sold shares of the stock. Levin Capital Strategies L.P. acquired a new stake in Gap during the second quarter worth approximately $53,595,000. Lazard Asset Management LLC boosted its stake in Gap by 25,265.6% in the first quarter. Lazard Asset Management LLC now owns 2,020,625 shares of the apparel retailer’s stock worth $59,406,000 after buying an additional 2,012,659 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Gap during the second quarter worth approximately $36,750,000. Bank of Montreal Can acquired a new stake in Gap during the second quarter worth approximately $29,343,000. Finally, Prudential Financial Inc. boosted its stake in Gap by 99.4% in the second quarter. Prudential Financial Inc. now owns 2,432,145 shares of the apparel retailer’s stock worth $51,610,000 after buying an additional 1,212,479 shares during the period. Institutional investors and hedge funds 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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