Kohl’s (NYSE:KSS) Issues FY24 Earnings Guidance

Kohl’s (NYSE:KSS – Get Rating) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.10-2.70 for the period, compared to the consensus EPS estimate of $2.32. The company issued revenue guidance of (4%)-(2%) yr/yr to ~$16.51-16.86 billion, compared to the consensus revenue estimate of $16.82 billion.

Kohl’s Stock Up 7.5 %

Shares of KSS stock opened at $20.72 on Thursday. Kohl’s has a 1 year low of $18.61 and a 1 year high of $47.63. The stock has a market cap of $2.29 billion, a PE ratio of -46.04, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The business’s fifty day moving average is $21.84 and its 200-day moving average is $26.57. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.18 and a current ratio of 1.20.

Kohl’s (NYSE:KSS – Get Rating) last issued its earnings results on Wednesday, March 1st. The company reported ($2.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($3.54). The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $6.03 billion. Kohl’s had a negative return on equity of 0.45% and a negative net margin of 0.10%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 earnings per share. Equities analysts expect that Kohl’s will post 2.36 earnings per share for the current fiscal year.

Kohl’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.65%. The ex-dividend date of this dividend is Tuesday, June 6th. Kohl’s’s payout ratio is -444.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KSS. Citigroup lifted their target price on Kohl’s from $19.00 to $20.00 in a report on Thursday. StockNews.com started coverage on Kohl’s in a research report on Thursday, May 18th. They issued a hold rating for the company. Credit Suisse Group decreased their target price on Kohl’s to $27.00 in a research report on Wednesday, March 1st. Robert W. Baird reduced their price objective on Kohl’s from $35.00 to $30.00 in a research report on Thursday. Finally, UBS Group lowered their target price on Kohl’s from $18.00 to $16.00 and set a sell rating on the stock in a research note on Wednesday, March 29th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $28.31.

Insider Transactions at Kohl’s

In related news, CEO Thomas Kingsbury purchased 92,500 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The stock was bought at an average price of $21.82 per share, for a total transaction of $2,018,350.00. Following the purchase, the chief executive officer now owns 228,993 shares in the company, valued at approximately $4,996,627.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kohl’s

Large investors have recently made changes to their positions in the business. First Republic Investment Management Inc. acquired a new position in shares of Kohl’s during the 1st quarter worth about $220,000. Neuberger Berman Group LLC acquired a new position in shares of Kohl’s during the 3rd quarter worth about $217,000. Empirical Finance LLC acquired a new position in shares of Kohl’s during the 4th quarter worth about $200,000. Money Concepts Capital Corp lifted its position in shares of Kohl’s by 4.1% during the 4th quarter. Money Concepts Capital Corp now owns 7,912 shares of the company’s stock worth $200,000 after purchasing an additional 312 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Kohl’s during the 2nd quarter worth about $175,000. Institutional investors and hedge funds own 95.50% of the company’s stock.

About Kohl’s

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Kohl’s Corp. engages in the operation of family-oriented department stores. Its business line includes apparel, footwear, and accessories for women, men, and children, home products, beauty products, and accessories. The stores generally carry a consistent merchandise assortment with some differences attributable to regional preferences.