Equities analysts predict that Michael Kors Holdings Ltd (NYSE:KORS) will announce earnings of $1.26 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Michael Kors’ earnings, with the highest EPS estimate coming in at $1.33 and the lowest estimate coming in at $1.22. Michael Kors reported earnings of $1.64 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 23.2%. The business is scheduled to issue its next quarterly earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that Michael Kors will report full year earnings of $3.96 per share for the current year, with EPS estimates ranging from $3.86 to $4.08. For the next year, analysts expect that the firm will report earnings of $4.02 per share, with EPS estimates ranging from $3.44 to $4.50. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Michael Kors.
Michael Kors (NYSE:KORS) last posted its quarterly earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year.
A number of brokerages have commented on KORS. Needham & Company LLC began coverage on Michael Kors in a research note on Monday. They set a “buy” rating and a $69.00 price objective on the stock. Wolfe Research upgraded Michael Kors from a “peer perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a research note on Thursday, December 14th. Goldman Sachs Group assumed coverage on Michael Kors in a research note on Tuesday, December 5th. They set a “buy” rating and a $70.00 price objective on the stock. ValuEngine upgraded Michael Kors from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Finally, Cowen reiterated a “hold” rating on shares of Michael Kors in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $52.41.
In other Michael Kors news, CEO John D. Idol sold 500 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total transaction of $27,560.00. Following the completion of the transaction, the chief executive officer now directly owns 1,688,046 shares of the company’s stock, valued at approximately $93,045,095.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction, the senior vice president now directly owns 10,081 shares of the company’s stock, valued at $604,960.81. The disclosure for this sale can be found here. Insiders sold a total of 16,835 shares of company stock valued at $964,403 over the last three months. Corporate insiders own 6.00% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Sandy Spring Bank lifted its holdings in shares of Michael Kors by 0.9% in the second quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after purchasing an additional 40 shares in the last quarter. First Allied Advisory Services Inc. lifted its holdings in shares of Michael Kors by 5.3% in the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after purchasing an additional 337 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Michael Kors by 2.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 53,165 shares of the lifestyle brand’s stock valued at $2,555,000 after purchasing an additional 1,100 shares in the last quarter. Balasa Dinverno & Foltz LLC lifted its holdings in shares of Michael Kors by 19.3% in the third quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock valued at $415,000 after purchasing an additional 1,404 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Michael Kors by 0.6% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 245,300 shares of the lifestyle brand’s stock valued at $8,892,000 after purchasing an additional 1,550 shares in the last quarter. Institutional investors own 86.32% of the company’s stock.
Michael Kors (NYSE:KORS) traded down $0.63 during mid-day trading on Tuesday, reaching $63.40. The company’s stock had a trading volume of 1,020,063 shares, compared to its average volume of 2,499,019. Michael Kors has a 1 year low of $32.38 and a 1 year high of $64.25. The stock has a market capitalization of $9,689.69, a P/E ratio of 17.66, a PEG ratio of 2.15 and a beta of 0.12.
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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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