Equities analysts predict that Michael Kors Holdings Ltd (NYSE:KORS) will announce $1.26 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Michael Kors’ earnings, with estimates ranging from $1.25 billion to $1.27 billion. Michael Kors posted sales of $1.15 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.6%. The firm is expected to report its next quarterly earnings report on Monday, November 5th.
On average, analysts expect that Michael Kors will report full year sales of $5.14 billion for the current financial year, with estimates ranging from $5.12 billion to $5.18 billion. For the next year, analysts expect that the business will report sales of $5.50 billion, with estimates ranging from $5.17 billion to $6.29 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Michael Kors.
Michael Kors (NYSE:KORS) last posted its earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.37. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 26.3% on a year-over-year basis.
KORS has been the subject of a number of research analyst reports. Piper Jaffray Companies set a $71.00 price target on Michael Kors and gave the stock a “hold” rating in a report on Friday, August 17th. Zacks Investment Research cut Michael Kors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 26th. ValuEngine cut Michael Kors from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. 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 on the stock in a research report on Wednesday, September 26th. Eighteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $75.93.
In other Michael Kors news, CEO John D. Idol sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $73.24, for a total value of $10,986,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael David Kors sold 179,920 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $71.35, for a total value of $12,837,292.00. The disclosure for this sale can be found here. In the last three months, insiders sold 996,436 shares of company stock worth $70,839,459. Insiders own 6.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of KORS. Nelson Roberts Investment Advisors LLC lifted its stake in shares of Michael Kors by 2.0% during the third quarter. Nelson Roberts Investment Advisors LLC now owns 77,121 shares of the lifestyle brand’s stock valued at $5,287,000 after acquiring an additional 1,500 shares during the period. Cerebellum GP LLC acquired a new position in shares of Michael Kors during the third quarter valued at $169,000. Atria Investments LLC lifted its stake in shares of Michael Kors by 86.5% during the third quarter. Atria Investments LLC now owns 8,907 shares of the lifestyle brand’s stock valued at $611,000 after acquiring an additional 4,130 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Michael Kors during the third quarter valued at $358,000. Finally, Fulton Bank N.A. lifted its stake in shares of Michael Kors by 7.9% during the third quarter. Fulton Bank N.A. now owns 12,588 shares of the lifestyle brand’s stock valued at $863,000 after acquiring an additional 918 shares during the period. 86.61% of the stock is currently owned by institutional investors.
KORS traded up $1.65 on Monday, hitting $63.61. The company had a trading volume of 1,978,582 shares, compared to its average volume of 2,345,681. Michael Kors has a 1-year low of $47.21 and a 1-year high of $75.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.63 and a current ratio of 1.37. The firm has a market cap of $10.24 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 2.16 and a beta of 0.12.
Michael Kors Company Profile
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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