Zacks: Analysts Expect Michael Kors Holdings Limited (KORS) Will Announce Earnings of $1.26 Per Share

Equities research analysts expect Michael Kors Holdings Limited (NYSE:KORS) to post earnings of $1.26 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Michael Kors’ earnings, with the highest EPS estimate coming in at $1.33 and the lowest estimate coming in at $1.22. Michael Kors reported earnings of $1.64 per share in the same quarter last year, which indicates a negative year over year growth rate of 23.2%. The firm is expected to announce its next earnings report on Tuesday, February 6th.

On average, analysts expect that Michael Kors will report full-year earnings of $3.96 per share for the current fiscal year, with EPS estimates ranging from $3.86 to $4.08. For the next year, analysts forecast that the business will post earnings of $4.02 per share, with EPS estimates ranging from $3.44 to $4.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Michael Kors.

Michael Kors (NYSE:KORS) last posted its quarterly earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.50. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.05 billion. Michael Kors had a net margin of 12.68% and a return on equity of 42.09%. Michael Kors’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share.

Several equities research analysts have commented on KORS shares. TheStreet raised shares of Michael Kors from a “c+” rating to a “b” rating in a research note on Monday, November 6th. Nomura upped their target price on shares of Michael Kors from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Michael Kors from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, August 14th. Jefferies Group reiterated a “buy” rating and issued a $60.00 price target on shares of Michael Kors in a report on Thursday, September 14th. Finally, Canaccord Genuity upgraded shares of Michael Kors from a “hold” rating to a “buy” rating and upped their price target for the company from $43.00 to $58.00 in a report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Michael Kors presently has an average rating of “Hold” and a consensus target price of $49.84.

Shares of Michael Kors (NYSE:KORS) traded down $0.46 during trading hours on Friday, reaching $57.98. 2,421,167 shares of the company’s stock traded hands, compared to its average volume of 2,505,836. Michael Kors has a 1 year low of $32.38 and a 1 year high of $59.27. The company has a market capitalization of $8,820.00, a P/E ratio of 12.86, a PEG ratio of 1.95 and a beta of 0.05.

In other Michael Kors news, SVP Krista A. Mcdonough sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the completion of the transaction, the senior vice president now owns 10,647 shares in the company, valued at approximately $595,486.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director M William Benedetto sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $53.60, for a total transaction of $107,200.00. Following the transaction, the director now owns 18,662 shares of the company’s stock, valued at approximately $1,000,283.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,000 shares of company stock worth $554,235. 6.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in shares of Michael Kors in the 2nd quarter valued at $114,000. Sandy Spring Bank increased its stake in shares of Michael Kors by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after acquiring an additional 40 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in shares of Michael Kors by 105.1% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after acquiring an additional 2,325 shares in the last quarter. Creative Planning increased its stake in shares of Michael Kors by 30.8% in the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock valued at $181,000 after acquiring an additional 1,180 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Michael Kors in the 2nd quarter valued at $188,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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Michael Kors 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.

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