Michael Kors Holdings Ltd (NYSE:KORS) – Research analysts at Piper Jaffray Companies upped their Q1 2020 EPS estimates for shares of Michael Kors in a note issued to investors on Thursday, November 1st. Piper Jaffray Companies analyst E. Murphy now forecasts that the lifestyle brand will post earnings of $1.11 per share for the quarter, up from their previous forecast of $1.10. Piper Jaffray Companies currently has a “Overweight” rating and a $71.00 target price on the stock. Piper Jaffray Companies also issued estimates for Michael Kors’ Q2 2020 earnings at $1.32 EPS, Q3 2020 earnings at $1.98 EPS and Q4 2020 earnings at $0.86 EPS.
Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Michael Kors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 26th. ValuEngine downgraded Michael Kors from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Deutsche Bank lowered their price objective on Michael Kors from $84.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Telsey Advisory Group boosted their price objective on Michael Kors from $67.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, August 9th. Finally, Needham & Company LLC lowered their price objective on Michael Kors from $79.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, September 26th. Fifteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $75.52.
NYSE:KORS opened at $57.45 on Monday. The company has a market capitalization of $8.70 billion, a P/E ratio of 12.71, a PEG ratio of 1.84 and a beta of 0.39. Michael Kors has a 1-year low of $53.37 and a 1-year high of $75.96. The company has a quick ratio of 0.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.
Michael Kors (NYSE:KORS) last released its earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.37. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. Michael Kors’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.
In related news, insider Michael David Kors sold 179,920 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $73.62, for a total value of $13,245,710.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John D. Idol sold 150,000 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $72.99, for a total value of $10,948,500.00. The disclosure for this sale can be found here. Insiders have sold 846,436 shares of company stock worth $60,640,959 over the last three months. Insiders own 6.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of KORS. Signet Financial Management LLC purchased a new stake in Michael Kors in the second quarter worth $140,000. Cerebellum GP LLC purchased a new stake in Michael Kors in the third quarter worth $169,000. Dynamic Technology Lab Private Ltd purchased a new stake in Michael Kors in the second quarter worth $200,000. Financial Gravity Wealth Inc. purchased a new stake in Michael Kors in the third quarter worth $203,000. Finally, Conning Inc. purchased a new stake in Michael Kors in the second quarter worth $204,000. 85.53% of the stock is currently owned by institutional investors.
About Michael Kors
Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.
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