GAP (NYSE:GPS) announced its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03, Briefing.com reports. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.76 billion. GAP had a net margin of 5.57% and a return on equity of 27.47%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. GAP updated its FY18 guidance to $2.08-2.12 EPS.
Shares of GAP (GPS) traded down $0.33 during mid-day trading on Friday, reaching $31.98. 6,227,163 shares of the company were exchanged, compared to its average volume of 6,078,857. GAP has a fifty-two week low of $21.02 and a fifty-two week high of $32.83. The company has a market capitalization of $12,563.97, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.92 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 0.77.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 3rd will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Tuesday, January 2nd. GAP’s dividend payout ratio (DPR) is currently 42.40%.
In other GAP news, CEO Jeff Kirwan sold 7,430 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $32.02, for a total transaction of $237,908.60. Following the completion of the sale, the chief executive officer now directly owns 30,698 shares of the company’s stock, valued at approximately $982,949.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sonia Syngal sold 1,935 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $25.79, for a total value of $49,903.65. Following the sale, the chief executive officer now directly owns 39,656 shares of the company’s stock, valued at $1,022,728.24. The disclosure for this sale can be found here. Insiders have sold 2,206,879 shares of company stock worth $67,109,508 in the last ninety days. 27.30% of the stock is currently owned by insiders.
A number of equities analysts have recently weighed in on the stock. Citigroup lowered shares of GAP from a “neutral” rating to a “sell” rating and cut their price objective for the company from $32.50 to $25.00 in a research report on Thursday. ValuEngine raised shares of GAP from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Cowen restated a “hold” rating and issued a $32.00 target price on shares of GAP in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded shares of GAP from a “sell” rating to a “hold” rating in a research note on Monday, November 20th. Finally, KeyCorp set a $35.00 price target on shares of GAP and gave the stock a “buy” rating in a research report on Thursday, November 16th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $27.94.
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GAP Company Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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