Michael Kors Holdings Ltd (NYSE:KORS) – Equities researchers at Oppenheimer issued their Q3 2019 EPS estimates for Michael Kors in a research report issued on Wednesday. Oppenheimer analyst A. Andreeva anticipates that the lifestyle brand will post earnings per share of $1.86 for the quarter. Oppenheimer has a “Outperform” rating and a $74.00 price objective on the stock. Oppenheimer also issued estimates for Michael Kors’ Q4 2019 earnings at $0.86 EPS and FY2019 earnings at $4.90 EPS.
KORS has been the subject of a number of other research reports. 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 report on Tuesday, November 7th. ValuEngine upgraded shares of Michael Kors from a “hold” rating to a “buy” rating in a report 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 report on Sunday, January 21st. Cowen reiterated a “hold” rating on shares of Michael Kors in a report 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 report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Michael Kors presently has an average rating of “Hold” and a consensus price target of $62.32.
Shares of Michael Kors (KORS) opened at $59.80 on Monday. The company has a market cap of $9,099.61, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.74 and a beta of 0.08. The company has a quick ratio of 1.06, a current ratio of 2.00 and a debt-to-equity ratio of 0.48. Michael Kors has a 1-year low of $32.38 and a 1-year high of $69.95.
Michael Kors (NYSE:KORS) last released 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. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.38 billion. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. Michael Kors’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS.
In other Michael Kors news, SVP Pascale Meyran sold 6,835 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total value of $410,168.35. Following the completion of the transaction, the senior vice president now owns 10,081 shares of the company’s stock, valued at approximately $604,960.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Krista A. Mcdonough sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the completion of the transaction, the senior vice president now directly owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. APG Asset Management N.V. raised its holdings in shares of Michael Kors by 0.5% in the 3rd quarter. APG Asset Management N.V. now owns 4,454,174 shares of the lifestyle brand’s stock valued at $213,132,000 after purchasing an additional 23,200 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Michael Kors by 0.8% in the 3rd quarter. Schroder Investment Management Group now owns 2,429,162 shares of the lifestyle brand’s stock valued at $115,895,000 after purchasing an additional 19,006 shares in the last quarter. American Century Companies Inc. raised 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 valued at $84,511,000 after purchasing an additional 1,278,764 shares in the last quarter. Dimensional Fund Advisors LP raised 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 valued at $57,918,000 after purchasing an additional 277,810 shares in the last quarter. Finally, Bank of Montreal Can raised 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 valued at $70,246,000 after purchasing an additional 948,966 shares in the last quarter. 87.93% of the stock is owned by institutional investors.
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About Michael Kors
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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