$1.27 Earnings Per Share Expected for Michael Kors Holdings Ltd (KORS) This Quarter

Wall Street brokerages predict that Michael Kors Holdings Ltd (NYSE:KORS) will post earnings of $1.27 per share for the current fiscal quarter, according to Zacks Investment Research. 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 posted earnings of $1.64 per share during the same quarter last year, which would suggest a negative year over year growth rate of 22.6%. The firm is scheduled to issue its next earnings results on Tuesday, February 6th.

On average, analysts expect that Michael Kors will report full-year earnings of $3.96 per share for the current financial year, with EPS estimates ranging from $3.86 to $4.08. For the next financial year, analysts expect that the firm will post earnings of $4.06 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 research analysts that cover Michael Kors.

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

Several analysts recently commented on the stock. MKM Partners upgraded shares of Michael Kors from a “sell” rating to a “neutral” rating and set a $26.00 price objective for the company in a research note on Tuesday, November 7th. ValuEngine upgraded shares of Michael Kors from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Cowen reiterated a “hold” rating on shares of Michael Kors in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Michael Kors from a “hold” rating to a “strong-buy” rating and set a $63.00 target price for the company in a report on Wednesday, November 8th. Finally, Susquehanna Bancshares started coverage on shares of Michael Kors in a report on Thursday, November 2nd. They issued a “positive” rating and a $62.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $52.81.

In related news, SVP Pascale Meyran sold 6,835 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total value of $410,168.35. Following the sale, the senior vice president now directly owns 10,081 shares of the company’s stock, valued at $604,960.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John D. Idol sold 500 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $55.12, for a total transaction of $27,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,688,046 shares in the company, valued at $93,045,095.52. The disclosure for this sale can be found here. Insiders sold 16,835 shares of company stock worth $964,403 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of KORS. CAPROCK Group Inc. acquired a new stake in Michael Kors in the fourth quarter valued at $219,000. First Allied Advisory Services Inc. raised its holdings in Michael Kors by 5.3% in the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after acquiring an additional 337 shares in the last quarter. Hikari Power Ltd bought a new stake in Michael Kors during the third quarter valued at $252,000. Sei Investments Co. increased its stake in Michael Kors by 65.1% during the third quarter. Sei Investments Co. now owns 5,466 shares of the lifestyle brand’s stock valued at $262,000 after purchasing an additional 2,156 shares during the last quarter. Finally, Sciencast Management LP bought a new stake in Michael Kors during the second quarter valued at $264,000. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

Michael Kors (KORS) traded up $0.85 during mid-day trading on Friday, hitting $65.86. 1,654,182 shares of the stock traded hands, compared to its average volume of 1,269,095. Michael Kors has a one year low of $32.38 and a one year high of $65.96. The firm has a market cap of $10,015.13, a PE ratio of 18.35, a PEG ratio of 2.22 and a beta of 0.12.

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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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