William Blair Weighs in on Michael Kors Holdings Ltd’s FY2018 Earnings (KORS)

Michael Kors Holdings Ltd (NYSE:KORS) – Stock analysts at William Blair upped their FY2018 earnings estimates for Michael Kors in a research note issued on Wednesday. William Blair analyst D. Carden now expects that the lifestyle brand will post earnings per share of $4.46 for the year, up from their prior forecast of $3.95. William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Michael Kors’ FY2019 earnings at $4.53 EPS.

Michael Kors (NYSE:KORS) last released its quarterly earnings data on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned $1.64 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year.

A number of other research firms have also weighed in on KORS. OTR Global raised shares of Michael Kors to a “positive” rating in a research note on Tuesday, January 30th. Barclays raised their price objective on shares of Michael Kors from $58.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Oppenheimer raised their price objective on shares of Michael Kors from $62.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Jefferies Group reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Michael Kors in a research note on Wednesday, February 7th. Finally, Needham & Company LLC raised their price target on shares of Michael Kors from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $62.32.

Michael Kors (KORS) opened at $59.80 on Monday. Michael Kors has a 12 month low of $32.38 and a 12 month high of $69.95. The firm has a market cap of $9,099.61, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.74 and a beta of 0.08. The company has a quick ratio of 1.06, a current ratio of 2.00 and a debt-to-equity ratio of 0.48.

In other Michael Kors news, SVP Pascale Meyran sold 6,835 shares of Michael Kors stock in a transaction dated 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 owns 10,081 shares of the company’s stock, valued at $604,960.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Krista A. Mcdonough sold 7,500 shares of Michael Kors stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $55.93, for a total transaction of $419,475.00. Following the completion of the sale, the senior vice president now directly owns 10,647 shares in the company, valued at approximately $595,486.71. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc increased its stake in shares of Michael Kors by 29.5% in the fourth quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock worth $216,000 after purchasing an additional 781 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Michael Kors by 3.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 31,313 shares of the lifestyle brand’s stock worth $1,971,000 after purchasing an additional 915 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Michael Kors by 2.5% in the fourth quarter. Arizona State Retirement System now owns 38,531 shares of the lifestyle brand’s stock worth $2,426,000 after purchasing an additional 931 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Michael Kors by 29.5% in the fourth quarter. Global X Management Co. LLC now owns 4,097 shares of the lifestyle brand’s stock worth $258,000 after purchasing an additional 934 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Michael Kors by 2.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 53,165 shares of the lifestyle brand’s stock worth $2,555,000 after purchasing an additional 1,100 shares in the last quarter. 87.93% of the stock is currently 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.

Earnings History and Estimates for Michael Kors (NYSE:KORS)

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