Michael Kors Holdings Ltd (KORS) Expected to Announce Quarterly Sales of $1.37 Billion

Equities research analysts expect Michael Kors Holdings Ltd (NYSE:KORS) to announce $1.37 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Michael Kors’ earnings. The lowest sales estimate is $1.36 billion and the highest is $1.38 billion. Michael Kors reported sales of $1.35 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 6th.

On average, analysts expect that Michael Kors will report full-year sales of $1.37 billion for the current financial year, with estimates ranging from $4.58 billion to $4.61 billion. For the next year, analysts expect that the firm will post sales of $4.80 billion per share, with estimates ranging from $4.72 billion to $4.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Michael Kors.

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

A number of equities analysts have recently weighed in on the company. Bank of America reaffirmed a “neutral” rating and issued a $58.00 price objective on shares of Michael Kors in a research note on Tuesday, November 7th. TheStreet raised Michael Kors from a “c+” rating to a “b” rating in a research note on Monday, November 6th. Barclays upped their price objective on Michael Kors from $44.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 7th. Robert W. Baird set a $58.00 price objective on Michael Kors and gave the stock a “hold” rating in a research note on Friday, December 22nd. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Michael Kors in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.95.

Michael Kors (NYSE KORS) opened at $65.70 on Tuesday. The firm has a market capitalization of $9,990.00, a PE ratio of 18.30, a PEG ratio of 2.22 and a beta of 0.12. Michael Kors has a one year low of $32.38 and a one year high of $66.55.

In other news, CEO John D. Idol sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total value of $27,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,688,046 shares of the company’s stock, valued at approximately $93,045,095.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Pascale Meyran sold 6,835 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 10,081 shares of the company’s stock, valued at $604,960.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,835 shares of company stock valued at $964,403. 6.00% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of KORS. CAPROCK Group Inc. bought a new stake in shares of Michael Kors in the 4th quarter valued at approximately $219,000. First Allied Advisory Services Inc. lifted its stake in shares of Michael Kors by 5.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after purchasing an additional 337 shares during the last quarter. Hikari Power Ltd bought a new stake in shares of Michael Kors in the 3rd quarter valued at approximately $252,000. Sei Investments Co. lifted its stake in shares of Michael Kors by 65.1% in the 3rd 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 shares of Michael Kors in the 2nd quarter valued at approximately $264,000. 86.95% of the stock is owned by institutional investors and hedge funds.

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About Michael Kors

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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