Brokerages expect Capri Holdings Ltd (NYSE:CPRI) to report $0.90 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Capri’s earnings, with estimates ranging from $0.87 to $0.94. Capri reported earnings per share of $1.32 during the same quarter last year, which would suggest a negative year over year growth rate of 31.8%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, August 7th.
According to Zacks, analysts expect that Capri will report full year earnings of $4.95 per share for the current year, with EPS estimates ranging from $4.90 to $5.00. For the next year, analysts expect that the firm will post earnings of $5.36 per share, with EPS estimates ranging from $5.06 to $5.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Capri.
Capri (NYSE:CPRI) last posted its quarterly earnings results on Wednesday, May 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Capri had a net margin of 10.36% and a return on equity of 33.75%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis.
Several brokerages recently issued reports on CPRI. Credit Suisse Group cut their price objective on Capri from $52.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. They noted that the move was a valuation call. Needham & Company LLC set a $54.00 price objective on Capri and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Wells Fargo & Co cut their price objective on Capri from $48.00 to $40.00 and set a “market perform” rating for the company in a research report on Thursday, May 30th. Canaccord Genuity restated a “buy” rating and set a $67.00 price objective (down from $76.00) on shares of Capri in a research report on Thursday, May 30th. They noted that the move was a valuation call. Finally, Argus began coverage on shares of Capri in a research note on Wednesday, June 12th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $52.00.
In other Capri news, CFO Thomas Jr. Edwards purchased 11,600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average cost of $34.41 per share, with a total value of $399,156.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John D. Idol purchased 615,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average cost of $32.57 per share, with a total value of $20,030,550.00. The disclosure for this purchase can be found here. 5.30% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Comerica Bank lifted its position in shares of Capri by 6.2% in the 2nd quarter. Comerica Bank now owns 30,588 shares of the company’s stock valued at $1,120,000 after acquiring an additional 1,792 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in Capri by 66.5% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 130,939 shares of the company’s stock worth $4,521,000 after buying an additional 52,307 shares in the last quarter. Portland Hill Asset Management Ltd increased its stake in shares of Capri by 18.6% during the 2nd quarter. Portland Hill Asset Management Ltd now owns 205,312 shares of the company’s stock worth $7,069,000 after purchasing an additional 32,175 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Capri by 236.6% during the 2nd quarter. Advisory Services Network LLC now owns 4,016 shares of the company’s stock worth $140,000 after purchasing an additional 2,823 shares during the last quarter. Finally, Coastal Investment Advisors Inc. acquired a new position in shares of Capri during the 2nd quarter worth $31,000. 86.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Capri stock traded down $1.92 during trading on Monday, hitting $31.27. 202,452 shares of the company were exchanged, compared to its average volume of 2,276,502. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.12 and a quick ratio of 0.50. Capri has a fifty-two week low of $32.08 and a fifty-two week high of $75.96. The stock has a market cap of $5.01 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 1.02 and a beta of 0.73. The stock has a 50 day moving average of $35.12.
Capri Company Profile
Capri 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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