Michael Kors (NYSE:KORS) will be posting its quarterly earnings results before the market opens on Wednesday, February 7th. Analysts expect Michael Kors to post earnings of $1.27 per share for the quarter. Michael Kors has set its Q3 guidance at $1.26-1.31 EPS.
Michael Kors (NYSE:KORS) last announced its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, beating the consensus estimate of $0.83 by $0.50. Michael Kors had a net margin of 12.68% and a return on equity of 42.09%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business posted $0.95 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts expect Michael Kors to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of Michael Kors (NYSE KORS) opened at $65.27 on Monday. Michael Kors has a 12 month low of $32.38 and a 12 month high of $68.35. The company has a market cap of $9,930.00, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 2.18 and a beta of 0.08.
Several analysts have commented on the stock. MKM Partners upgraded shares of Michael Kors from a “sell” rating to a “neutral” rating and set a $26.00 price objective for the company in a research note on Tuesday, November 7th. ValuEngine upgraded shares of Michael Kors from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Robert W. Baird set a $62.00 price objective on shares of Michael Kors and gave the company a “hold” rating in a research note on Sunday, January 21st. Cowen restated a “hold” rating on shares of Michael Kors in a research note on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Michael Kors from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective for the company in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Michael Kors presently has an average rating of “Hold” and a consensus target price of $54.14.
In related news, Director M William Benedetto sold 2,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $53.60, for a total value of $107,200.00. Following the completion of the sale, the director now owns 18,662 shares of the company’s stock, valued at approximately $1,000,283.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John D. Idol sold 500 shares of the business’s 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 sale, the chief executive officer now directly owns 1,688,046 shares of the company’s stock, valued at approximately $93,045,095.52. The disclosure for this sale can be found here. In the last three months, insiders sold 16,835 shares of company stock valued at $964,403. 6.00% of the stock is owned by insiders.
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Michael Kors Company Profile
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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