Gap, Inc. (The) (GPS) Expected to Announce Quarterly Sales of $3.77 Billion
Equities analysts predict that Gap, Inc. (The) (NYSE:GPS) will post sales of $3.77 billion for the current quarter, according to Zacks. Nine analysts have made estimates for Gap, Inc. (The)’s earnings, with the highest sales estimate coming in at $3.84 billion and the lowest estimate coming in at $3.69 billion. Gap, Inc. (The) posted sales of $3.85 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.1%. The firm is expected to issue its next earnings report after the market closes on Thursday, August 17th.
On average, analysts expect that Gap, Inc. (The) will report full year sales of $3.77 billion for the current financial year, with estimates ranging from $15.16 billion to $15.85 billion. For the next year, analysts anticipate that the firm will post sales of $15.64 billion per share, with estimates ranging from $15.09 billion to $16.11 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Gap, Inc. (The).
Gap, Inc. (The) (NYSE:GPS) last announced its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. Gap, Inc. (The) had a return on equity of 29.75% and a net margin of 4.46%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis.
A number of equities analysts have recently issued reports on the company. Jefferies Group LLC set a $35.00 target price on Gap, Inc. (The) and gave the stock a “buy” rating in a report on Wednesday. FBR & Co set a $25.00 target price on Gap, Inc. (The) and gave the stock a “hold” rating in a report on Tuesday. BMO Capital Markets set a $23.00 target price on Gap, Inc. (The) and gave the stock a “hold” rating in a report on Tuesday, August 8th. Royal Bank Of Canada reissued a “hold” rating and issued a $26.00 target price on shares of Gap, Inc. (The) in a report on Wednesday, August 9th. Finally, Zacks Investment Research raised Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.67.
Gap, Inc. (NYSE GPS) opened at 22.07 on Wednesday. Gap, Inc. has a 12 month low of $21.02 and a 12 month high of $30.74. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 12.76 and a beta of 0.87. The firm’s 50-day moving average price is $23.11 and its 200-day moving average price is $23.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, October 3rd. Gap, Inc. (The)’s payout ratio is presently 53.18%.
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Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Gap, Inc. (The) during the first quarter valued at approximately $127,000. Ffcm LLC increased its stake in shares of Gap, Inc. (The) by 198.0% in the second quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock valued at $121,000 after buying an additional 3,519 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Gap, Inc. (The) by 9.5% in the first quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer’s stock valued at $145,000 after buying an additional 520 shares during the last quarter. James Investment Research Inc. acquired a new stake in shares of Gap, Inc. (The) during the second quarter valued at approximately $144,000. Finally, Yorktown Management & Research Co Inc purchased a new stake in Gap, Inc. (The) during the first quarter valued at about $211,000. 57.30% of the stock is currently owned by institutional investors and hedge funds.
About Gap, Inc. (The)
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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