Equities analysts expect that Michael Kors Holdings Limited (NYSE:KORS) will post $1.05 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Michael Kors Holdings Limited’s earnings. The lowest sales estimate is $1.04 billion and the highest is $1.05 billion. Michael Kors Holdings Limited also posted sales of $1.05 billion during the same quarter last year. The business is expected to report its next earnings results on Thursday, November 9th.

On average, analysts expect that Michael Kors Holdings Limited will report full-year sales of $1.05 billion for the current year, with estimates ranging from $4.21 billion to $4.58 billion. For the next financial year, analysts forecast that the business will report sales of $4.12 billion per share, with estimates ranging from $3.98 billion to $4.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Michael Kors Holdings Limited.

Michael Kors Holdings Limited (NYSE:KORS) last released its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping the consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The firm had revenue of $952.40 million for the quarter, compared to the consensus estimate of $919.18 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year.

KORS has been the topic of several analyst reports. Deutsche Bank AG reduced their price target on Michael Kors Holdings Limited from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, April 25th. Jefferies Group LLC set a $65.00 target price on Michael Kors Holdings Limited and gave the company a “buy” rating in a research report on Friday, May 19th. Nomura lifted their target price on Michael Kors Holdings Limited from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $36.00 target price (down from $43.00) on shares of Michael Kors Holdings Limited in a research report on Thursday, June 1st. Finally, Canaccord Genuity set a $38.00 target price on Michael Kors Holdings Limited and gave the company a “hold” rating in a research report on Friday, May 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and four have assigned a buy rating to the company’s stock. Michael Kors Holdings Limited presently has an average rating of “Hold” and a consensus target price of $42.94.

Several hedge funds have recently made changes to their positions in KORS. Soros Fund Management LLC bought a new stake in shares of Michael Kors Holdings Limited during the first quarter valued at about $389,000. 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. DnB Asset Management AS increased its stake in shares of Michael Kors Holdings Limited by 41.6% in the first quarter. DnB Asset Management AS now owns 14,973 shares of the lifestyle brand’s stock valued at $571,000 after buying an additional 4,400 shares during the last quarter. Oxford Asset Management acquired a new stake in shares of Michael Kors Holdings Limited during the first quarter valued at $2,834,000. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of Michael Kors Holdings Limited by 75.8% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 812,941 shares of the lifestyle brand’s stock valued at $30,981,000 after buying an additional 350,512 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “$1.05 Billion in Sales Expected for Michael Kors Holdings Limited (KORS) This Quarter” was reported by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/08/12/1-05-billion-in-sales-expected-for-michael-kors-holdings-limited-kors-this-quarter.html.

Shares of Michael Kors Holdings Limited (NYSE KORS) opened at 44.69 on Friday. The stock has a market cap of $6.90 billion, a P/E ratio of 13.71 and a beta of 0.10. Michael Kors Holdings Limited has a 1-year low of $32.38 and a 1-year high of $52.67. The company’s 50-day moving average is $36.61 and its 200-day moving average is $37.11.

Michael Kors Holdings Limited announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the lifestyle brand to reacquire up to 18.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.

Get a free copy of the Zacks research report on Michael Kors Holdings Limited (KORS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Michael Kors Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors Holdings Limited and related companies with MarketBeat.com's FREE daily email newsletter.