Michael Kors Holdings Limited (NYSE:KORS) posted its earnings results on Tuesday. The lifestyle brand reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18, Bloomberg Earnings reports. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. The business had revenue of $952.40 million during the quarter, compared to analysts’ expectations of $919.18 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Michael Kors Holdings Limited updated its Q2 guidance to $0.80-0.84 EPS and its FY18 guidance to $3.62-3.72 EPS.

Michael Kors Holdings Limited (KORS) opened at 37.23 on Tuesday. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67. The stock has a market cap of $5.79 billion, a P/E ratio of 11.32 and a beta of 0.10. The company’s 50-day moving average price is $35.18 and its 200-day moving average price is $37.09.

Several equities analysts recently commented on KORS shares. Deutsche Bank AG restated a “hold” rating and set a $36.00 target price (down from $40.00) on shares of Michael Kors Holdings Limited in a research report on Saturday, June 3rd. BidaskClub upgraded Michael Kors Holdings Limited from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets set a $35.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Wednesday, May 31st. Credit Suisse Group set a $36.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, Telsey Advisory Group reduced their target price on Michael Kors Holdings Limited from $42.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, June 1st. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $39.64.

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Michael Kors Holdings Limited declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 31st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the lifestyle brand to reacquire up to 18.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently made changes to their positions in KORS. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Michael Kors Holdings Limited by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,194 shares of the lifestyle brand’s stock valued at $998,000 after buying an additional 125 shares during the last quarter. First Heartland Consultants Inc. increased its stake in shares of Michael Kors Holdings Limited by 1.9% in the second quarter. First Heartland Consultants Inc. now owns 6,829 shares of the lifestyle brand’s stock valued at $248,000 after buying an additional 129 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Michael Kors Holdings Limited by 3.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,670 shares of the lifestyle brand’s stock valued at $244,000 after buying an additional 190 shares during the last quarter. Twin Capital Management Inc. increased its stake in shares of Michael Kors Holdings Limited by 0.8% in the first quarter. Twin Capital Management Inc. now owns 42,320 shares of the lifestyle brand’s stock valued at $1,613,000 after buying an additional 320 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in shares of Michael Kors Holdings Limited by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 6,000 shares of the lifestyle brand’s stock valued at $229,000 after buying an additional 330 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

Michael Kors Holdings Limited Company Profile

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.

Earnings History for Michael Kors Holdings Limited (NYSE:KORS)

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