Brokerages expect Michael Kors Holdings (NYSE:KORS) to report $1.14 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Michael Kors’ earnings, with the lowest sales estimate coming in at $1.13 billion and the highest estimate coming in at $1.16 billion. Michael Kors reported sales of $1.06 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The business is scheduled to issue its next quarterly earnings report on Wednesday, May 30th.
On average, analysts expect that Michael Kors will report full year sales of $1.14 billion for the current fiscal year, with estimates ranging from $4.67 billion to $4.69 billion. For the next financial year, analysts anticipate that the business will post sales of $4.97 billion per share, with estimates ranging from $4.84 billion to $5.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Michael Kors.
Michael Kors (NYSE:KORS) last posted its quarterly earnings data on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company posted $1.64 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.
KORS has been the subject of a number of research analyst reports. Wolfe Research upgraded shares of Michael Kors from a “peer perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a report on Thursday, December 14th. ValuEngine upgraded shares of Michael Kors from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Oppenheimer increased their target price on shares of Michael Kors from $62.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Needham & Company LLC assumed coverage on shares of Michael Kors in a research report on Monday, December 18th. They set a “buy” rating and a $69.00 target price for the company. Finally, Robert W. Baird set a $58.00 target price on shares of Michael Kors and gave the stock a “hold” rating in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.48.
NYSE KORS traded down $1.16 during trading hours on Friday, reaching $64.86. 2,731,531 shares of the company were exchanged, compared to its average volume of 1,597,438. Michael Kors has a 1 year low of $32.38 and a 1 year high of $69.95. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 2.00. The company has a market capitalization of $9,869.55, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.96 and a beta of 0.17.
In other Michael Kors news, CEO John D. Idol sold 150,000 shares of Michael Kors stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $62.87, for a total transaction of $9,430,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,787,546 shares in the company, valued at $112,383,017.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael David Kors sold 246,590 shares of Michael Kors stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $61.30, for a total transaction of $15,115,967.00. The disclosure for this sale can be found here. Insiders sold 557,090 shares of company stock valued at $34,547,282 over the last 90 days. 6.00% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System lifted its position in Michael Kors by 3.1% during the third quarter. California Public Employees Retirement System now owns 500,027 shares of the lifestyle brand’s stock valued at $23,926,000 after purchasing an additional 14,927 shares during the last quarter. Dupont Capital Management Corp lifted its position in Michael Kors by 8.7% during the fourth quarter. Dupont Capital Management Corp now owns 124,314 shares of the lifestyle brand’s stock valued at $7,826,000 after purchasing an additional 9,968 shares during the last quarter. Suntrust Banks Inc. bought a new stake in Michael Kors during the fourth quarter valued at approximately $295,000. Dimensional Fund Advisors LP lifted its position in Michael Kors by 29.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,210,424 shares of the lifestyle brand’s stock valued at $57,918,000 after purchasing an additional 277,810 shares during the last quarter. Finally, OxFORD Asset Management LLP purchased a new position in shares of Michael Kors during the third quarter worth approximately $4,091,000. Institutional investors and hedge funds own 85.47% of the company’s stock.
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About Michael Kors
Michael Kors Holdings Limited design, markets, distributes, and retails branded women's apparel and accessories, and men's apparel. The company operates in three segments: Retail, Wholesale, and Licensing. The Retail segment is involved in the sale of women's apparel; men's apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances, beauty products, and eyewear.
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