Equities analysts expect Gap Inc (NYSE:GPS) to post $0.53 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for GAP’s earnings. The highest EPS estimate is $0.56 and the lowest is $0.52. GAP posted earnings per share of $0.76 during the same quarter last year, which indicates a negative year over year growth rate of 30.3%. The firm is expected to announce its next quarterly earnings report on Thursday, August 22nd.
According to Zacks, analysts expect that GAP will report full year earnings of $2.07 per share for the current year, with EPS estimates ranging from $1.95 to $2.15. For the next fiscal year, analysts anticipate that the business will report earnings of $2.16 per share, with EPS estimates ranging from $1.84 to $2.51. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for GAP.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.07). The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.78 billion. GAP had a net margin of 6.46% and a return on equity of 26.73%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS.
A number of research firms have weighed in on GPS. Nomura decreased their target price on shares of GAP from $22.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Bank of America set a $77.00 target price on shares of Zscaler and gave the company a “neutral” rating in a research report on Friday, May 31st. MKM Partners decreased their target price on shares of GAP from $33.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Finally, Wedbush set a $12.00 target price on shares of GameStop and gave the company a “buy” rating in a research report on Friday, May 31st. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. GAP presently has a consensus rating of “Hold” and an average price target of $25.28.
In other GAP news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $18.00, for a total transaction of $291,294.00. Following the transaction, the chief executive officer now directly owns 32,500 shares in the company, valued at approximately $585,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Julie Gruber sold 3,286 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $24.00, for a total value of $78,864.00. The disclosure for this sale can be found here. 37.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of GPS. BlackRock Inc. boosted its holdings in shares of GAP by 28.2% during the 1st quarter. BlackRock Inc. now owns 20,412,955 shares of the apparel retailer’s stock worth $534,413,000 after buying an additional 4,491,047 shares in the last quarter. Norges Bank bought a new position in shares of GAP in the 4th quarter worth $82,347,000. Dimensional Fund Advisors LP lifted its holdings in shares of GAP by 31.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,975,433 shares of the apparel retailer’s stock worth $102,406,000 after purchasing an additional 960,583 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of GAP by 82.5% in the 1st quarter. California Public Employees Retirement System now owns 1,623,668 shares of the apparel retailer’s stock worth $42,508,000 after purchasing an additional 734,097 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of GAP by 121.1% in the 1st quarter. SG Americas Securities LLC now owns 105,865 shares of the apparel retailer’s stock worth $2,772,000 after purchasing an additional 607,780 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.
NYSE:GPS traded down $0.49 on Wednesday, reaching $18.74. 5,441,000 shares of the stock traded hands, compared to its average volume of 5,691,361. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 1.02 and a beta of 0.71. The firm has a 50 day moving average of $18.33. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.49 and a quick ratio of 0.70. GAP has a 1-year low of $17.12 and a 1-year high of $32.98.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Tuesday, July 9th. GAP’s payout ratio is 37.45%.
The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.
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