Michael Kors Holdings Ltd (KORS) Releases Q1 Earnings Guidance
Michael Kors Holdings Ltd (NYSE:KORS) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of 0.61-0.64 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.81. The company issued revenue guidance of 910-930 million, compared to the consensus revenue estimate of $943.02 million.Michael Kors Holdings also updated its FY18 guidance to 3.57-3.67 EPS.
A number of research firms have weighed in on KORS. Canaccord Genuity reissued a buy rating and set a $45.00 target price on shares of Michael Kors Holdings in a research report on Tuesday, February 7th. Nomura set a $46.00 target price on shares of Michael Kors Holdings and gave the company a buy rating in a research report on Thursday, February 9th. Credit Suisse Group AG reissued a neutral rating and set a $39.00 target price (down previously from $42.00) on shares of Michael Kors Holdings in a research report on Wednesday, May 24th. Deutsche Bank AG downgraded shares of Michael Kors Holdings from a buy rating to a hold rating and decreased their target price for the company from $47.00 to $40.00 in a research report on Monday, May 15th. Finally, Cowen and Company reissued a hold rating and set a $40.00 target price (down previously from $47.00) on shares of Michael Kors Holdings in a research report on Tuesday, February 7th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $43.54.
Michael Kors Holdings Ltd (NYSE KORS) opened at 36.27 on Wednesday. The company has a market capitalization of $5.88 billion, a PE ratio of 8.29 and a beta of 0.70. Michael Kors Holdings Ltd has a 52 week low of $34.92 and a 52 week high of $53.29. The firm’s 50-day moving average price is $37.14 and its 200 day moving average price is $40.47. Michael Kors Holdings also was the recipient of unusually large options trading on Tuesday. Stock traders bought 16,102 put options on the company. This is an increase of 733% compared to the typical daily volume of 1,934 put options.
Michael Kors Holdings (NYSE:KORS) last released its earnings results on Wednesday, May 31st. The lifestyle brand reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Michael Kors Holdings had a return on equity of 41.96% and a net margin of 16.59%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was down 11.2% on a year-over-year basis. Equities research analysts expect that Michael Kors Holdings Ltd will post $4.16 earnings per share for the current fiscal year.
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About Michael Kors Holdings
Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.
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