Equities analysts expect that Michael Kors Holdings (NYSE:KORS) will post $0.58 earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Michael Kors’ earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.62. Michael Kors posted earnings per share of $0.73 in the same quarter last year, which suggests a negative year over year growth rate of 20.5%. The company is expected to issue its next quarterly earnings results on Wednesday, May 30th.
According to Zacks, analysts expect that Michael Kors will report full-year earnings of $4.48 per share for the current fiscal year, with EPS estimates ranging from $4.43 to $4.52. For the next fiscal year, analysts anticipate that the business will post earnings of $4.72 per share, with EPS estimates ranging from $4.53 to $5.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of 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 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm posted $1.64 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year.
A number of research analysts have commented on KORS shares. Needham & Company LLC increased their price objective on shares of Michael Kors from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Jefferies Group reiterated a “buy” rating and set a $90.00 price objective on shares of Michael Kors in a research note on Wednesday, February 7th. Nomura increased their price objective on shares of Michael Kors from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. ValuEngine downgraded shares of Michael Kors from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, Barclays increased their price objective on shares of Michael Kors from $58.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.48.
In related news, CEO John D. Idol sold 150,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $62.26, for a total value of $9,339,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael David Kors sold 246,590 shares of the stock in a transaction dated Friday, March 2nd. The stock was 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. In the last ninety days, insiders sold 707,090 shares of company stock worth $44,481,782. Corporate insiders own 6.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of Michael Kors by 2,006.2% in the 4th quarter. American Century Companies Inc. now owns 1,342,506 shares of the lifestyle brand’s stock worth $84,511,000 after acquiring an additional 1,278,764 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Michael Kors by 40.3% in the 4th quarter. Two Sigma Advisers LP now owns 1,224,876 shares of the lifestyle brand’s stock worth $77,106,000 after acquiring an additional 352,016 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Michael Kors by 29.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,210,424 shares of the lifestyle brand’s stock worth $57,918,000 after acquiring an additional 277,810 shares during the period. Deutsche Bank AG increased its holdings in shares of Michael Kors by 25.3% in the 4th quarter. Deutsche Bank AG now owns 1,185,018 shares of the lifestyle brand’s stock worth $74,593,000 after acquiring an additional 239,047 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Michael Kors by 568.5% in the 4th quarter. Bank of Montreal Can now owns 1,115,901 shares of the lifestyle brand’s stock worth $70,246,000 after acquiring an additional 948,966 shares during the period. 85.55% of the stock is currently owned by institutional investors and hedge funds.
NYSE KORS traded down $0.70 during trading hours on Monday, reaching $65.01. 1,826,999 shares of the company traded hands, compared to its average volume of 1,539,581. Michael Kors has a 12 month low of $32.38 and a 12 month high of $69.95. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.00 and a quick ratio of 1.06. The company has a market capitalization of $9,998.92, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.99 and a beta of 0.17.
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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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