$0.29 Earnings Per Share Expected for Gap Inc (GPS) This Quarter
Equities research analysts forecast that Gap Inc (NYSE:GPS) will post $0.29 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Gap’s earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.27. Gap posted earnings per share of $0.32 in the same quarter last year, which would suggest a negative year over year growth rate of 9.4%. The company is expected to announce its next quarterly earnings report on Thursday, May 18th.
According to Zacks, analysts expect that Gap will report full-year earnings of $2.00 per share for the current year, with EPS estimates ranging from $1.95 to $2.06. For the next year, analysts anticipate that the firm will report earnings of $2.04 per share, with EPS estimates ranging from $1.87 to $2.22. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Gap.
Gap (NYSE:GPS) last posted its quarterly earnings data on Thursday, February 23rd. The apparel retailer reported $0.51 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.39 billion. Gap had a return on equity of 32.19% and a net margin of 4.33%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 EPS.
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A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “hold” rating and issued a $26.00 target price on shares of Gap in a research report on Tuesday. JPMorgan Chase & Co. raised Gap from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $25.59 to $24.00 in a research report on Thursday. FBR & Co set a $28.00 price target on Gap and gave the stock a “hold” rating in a research report on Sunday, January 8th. Jefferies Group LLC set a $34.00 price target on Gap and gave the stock a “buy” rating in a research report on Saturday, February 25th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $30.00 price target on shares of Gap in a research report on Tuesday. Three analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have issued a buy rating to the stock. Gap presently has a consensus rating of “Hold” and a consensus target price of $25.12.
In related news, insider Andi Owen sold 38,278 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $23.97, for a total transaction of $917,523.66. Following the completion of the sale, the insider now directly owns 30,778 shares in the company, valued at approximately $737,748.66. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert J. Fisher sold 500,000 shares of the company’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $24.58, for a total value of $12,290,000.00. Following the sale, the director now owns 8,867,728 shares of the company’s stock, valued at $217,968,754.24. The disclosure for this sale can be found here. Corporate insiders own 30.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of Gap during the third quarter valued at $161,000. Regentatlantic Capital LLC acquired a new stake in shares of Gap during the third quarter valued at $211,000. Folger Hill Asset Management LP acquired a new stake in shares of Gap during the fourth quarter valued at $225,000. ARP Americas LLC acquired a new stake in shares of Gap during the fourth quarter valued at $227,000. Finally, Private Advisor Group LLC increased its stake in shares of Gap by 15.0% in the fourth quarter. Private Advisor Group LLC now owns 10,547 shares of the apparel retailer’s stock valued at $250,000 after buying an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.
Shares of Gap (NYSE:GPS) opened at 24.22 on Thursday. The firm’s 50-day moving average price is $23.93 and its 200 day moving average price is $24.73. The firm has a market cap of $9.68 billion, a P/E ratio of 14.33 and a beta of 0.99. Gap has a 12-month low of $17.00 and a 12-month high of $30.74. Gap also was the target of some unusual options trading on Monday. Investors purchased 474 put options on the company. This is an increase of approximately 331% compared to the average volume of 110 put options.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, April 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.80%. Gap’s payout ratio is 55.09%.
Gap Company Profile
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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