GAP (NYSE:GPS) Releases Earnings Results, Beats Expectations By $0.17 EPS

GAP (NYSE:GPS – Get Rating) released its earnings results on Thursday. The apparel retailer reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.17, Briefing.com reports. GAP had a negative net margin of 1.29% and a negative return on equity of 6.07%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the firm earned ($0.44) EPS. The company’s revenue was down 5.8% compared to the same quarter last year.

GAP Trading Down 2.5 %

Shares of NYSE:GPS opened at $7.42 on Friday. The firm’s 50 day moving average price is $8.99 and its 200-day moving average price is $11.56. GAP has a twelve month low of $7.22 and a twelve month high of $15.49. The company has a current ratio of 1.42, a quick ratio of 0.68 and a debt-to-equity ratio of 0.82.

GAP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.09%. The ex-dividend date is Monday, July 3rd. GAP’s dividend payout ratio (DPR) is presently -109.09%.

Analyst Upgrades and Downgrades

GPS has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of GAP from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Friday, March 10th. StockNews.com initiated coverage on shares of GAP in a research report on Thursday, May 18th. They set a “hold” rating on the stock. The Goldman Sachs Group cut their price objective on shares of GAP from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 10th. Citigroup raised shares of GAP from a “sell” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $8.00 in a research report on Friday, May 19th. Finally, Barclays cut their price objective on shares of GAP from $11.00 to $10.00 in a research report on Tuesday, May 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, GAP currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Insider Transactions at GAP

In other news, CEO Mark Breitbard sold 22,918 shares of the stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $8.78, for a total value of $201,220.04. Following the transaction, the chief executive officer now owns 123,985 shares in the company, valued at approximately $1,088,588.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 31,209 shares of company stock worth $282,671 in the last quarter. Company insiders own 30.81% of the company’s stock.

Hedge Funds Weigh In On GAP

Institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in GAP by 12.2% during the 2nd quarter. Captrust Financial Advisors now owns 8,561 shares of the apparel retailer’s stock worth $71,000 after acquiring an additional 930 shares during the period. Covestor Ltd raised its stake in GAP by 208.4% during the 1st quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock worth $97,000 after acquiring an additional 4,678 shares during the period. US Bancorp DE raised its stake in GAP by 34.9% during the 1st quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock worth $170,000 after acquiring an additional 3,132 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in GAP during the 3rd quarter worth approximately $290,000. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in GAP during the 1st quarter worth approximately $915,000. Institutional investors own 57.72% of the company’s stock.

GAP Company Profile

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Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.