Kohl’s (NYSE:KSS) Releases Earnings Results, Beats Estimates By $0.57 EPS

Posted by ABMN Staff on May 26th, 2023

Kohl’s (NYSE:KSS – Get Rating) released its quarterly earnings results on Wednesday. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.57, Briefing.com reports. Kohl’s had a negative net margin of 0.11% and a negative return on equity of 0.47%. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the firm earned $0.11 earnings per share. Kohl’s’s revenue was down 4.8% compared to the same quarter last year. Kohl’s updated its FY24 guidance to $2.10-2.70 EPS.

Kohl’s Stock Down 5.1 %

Shares of Kohl’s stock opened at $19.67 on Friday. The company has a market capitalization of $2.18 billion, a P/E ratio of -45.74, a price-to-earnings-growth ratio of 1.10 and a beta of 1.66. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.18. The business has a 50-day moving average of $21.77 and a two-hundred day moving average of $26.52. Kohl’s has a 1 year low of $18.61 and a 1 year high of $47.63.

Kohl’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 6th. This represents a $2.00 dividend on an annualized basis and a yield of 10.17%. Kohl’s’s payout ratio is -465.11%.

Insider Activity

In other Kohl’s news, CEO Thomas Kingsbury bought 92,500 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was acquired at an average cost of $21.82 per share, with a total value of $2,018,350.00. Following the purchase, the chief executive officer now owns 228,993 shares in the company, valued at $4,996,627.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kohl’s

Several large investors have recently made changes to their positions in the stock. Fairfield Bush & CO. bought a new stake in Kohl’s in the 1st quarter valued at $93,000. Raymond James & Associates boosted its position in shares of Kohl’s by 43.3% during the first quarter. Raymond James & Associates now owns 44,031 shares of the company’s stock worth $2,662,000 after buying an additional 13,314 shares during the period. Natixis Advisors L.P. bought a new position in shares of Kohl’s during the first quarter worth about $1,183,000. Great West Life Assurance Co. Can raised its position in Kohl’s by 4.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 92,581 shares of the company’s stock valued at $5,816,000 after buying an additional 4,349 shares during the last quarter. Finally, Blair William & Co. IL raised its position in Kohl’s by 1.8% in the 1st quarter. Blair William & Co. IL now owns 28,668 shares of the company’s stock valued at $1,733,000 after buying an additional 502 shares during the last quarter. Institutional investors own 95.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KSS shares. Citigroup lifted their target price on Kohl’s from $19.00 to $20.00 in a research note on Thursday. UBS Group dropped their price objective on Kohl’s from $18.00 to $16.00 and set a “sell” rating for the company in a report on Wednesday, March 29th. Robert W. Baird reduced their target price on shares of Kohl’s from $35.00 to $30.00 in a research note on Thursday. Bank of America dropped their price target on shares of Kohl’s from $25.00 to $22.00 in a research note on Thursday. Finally, Credit Suisse Group reduced their price objective on shares of Kohl’s to $27.00 in a research note on Wednesday, March 1st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.88.

Kohl’s Company Profile

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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.