Michael Kors Holdings Ltd (NYSE:KORS) – Equities research analysts at Oppenheimer reduced their Q1 2019 earnings per share estimates for Michael Kors in a report issued on Monday. Oppenheimer analyst A. Andreeva now anticipates that the lifestyle brand will post earnings of $0.87 per share for the quarter, down from their prior estimate of $0.88. Oppenheimer has a “Outperform” rating and a $74.00 price objective on the stock. Oppenheimer also issued estimates for Michael Kors’ Q2 2019 earnings at $1.37 EPS, Q3 2019 earnings at $1.89 EPS and Q4 2019 earnings at $0.77 EPS.
Several other equities research analysts also recently weighed in on KORS. Cowen set a $71.00 price target on Michael Kors and gave the stock a “hold” rating in a report on Wednesday, February 7th. Barclays set a $75.00 price objective on Michael Kors and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Needham & Company LLC increased their price objective on Michael Kors from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $57.00 price objective (up previously from $51.00) on shares of Michael Kors in a research report on Thursday, February 8th. They noted that the move was a valuation call. Finally, Royal Bank of Canada set a $71.00 price objective on Michael Kors and gave the stock a “hold” rating in a research report on Thursday, February 8th. One 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 stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.32.
Michael Kors (NYSE:KORS) last posted its earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.48. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.38 billion. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS.
In related news, SVP Krista A. Mcdonough sold 7,500 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $55.93, for a total transaction of $419,475.00. Following the sale, the senior vice president now owns 10,647 shares of the company’s stock, valued at $595,486.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Pascale Meyran sold 6,835 shares of the 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 in the company, valued at approximately $604,960.81. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. USA Mutuals Advisors Inc. acquired a new stake in shares of Michael Kors in the fourth quarter valued at approximately $100,000. Cerebellum GP LLC bought a new stake in shares of Michael Kors in the fourth quarter worth $126,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Michael Kors in the fourth quarter worth $190,000. CAPROCK Group Inc. bought a new stake in shares of Michael Kors in the fourth quarter worth $219,000. Finally, IFP Advisors Inc grew 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 during 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.
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