Jefferies Group Weighs in on Gap Inc.’s FY2018 Earnings (GPS)
Gap Inc. (NYSE:GPS) – Research analysts at Jefferies Group increased their FY2018 earnings per share (EPS) estimates for Gap in a report released on Friday. Jefferies Group analyst R. Konik now forecasts that the brokerage will post earnings per share of $2.30 for the year, up from their prior estimate of $2.25. Jefferies Group currently has a “Buy” rating and a $32.00 price target on the stock.
A number of other research firms also recently commented on GPS. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Gap in a report on Saturday, July 9th. Vetr downgraded shares of Gap from a “strong-buy” rating to a “sell” rating and set a $25.20 price objective for the company. in a report on Monday. RBC Capital Markets set a $23.00 price target on shares of Gap and gave the company a “hold” rating in a report on Tuesday, September 13th. Wedbush boosted their price target on shares of Gap from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, August 19th. Finally, FBR & Co reissued a “market perform” rating and set a $22.00 price target on shares of Gap in a report on Wednesday, July 6th. Six analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $25.17.
Gap (NYSE:GPS) traded up 0.53% during trading on Monday, reaching $26.56. 4,475,466 shares of the company’s stock traded hands. Gap has a 12 month low of $17.00 and a 12 month high of $30.49. The company has a 50-day moving average of $23.86 and a 200 day moving average of $22.94. The stock has a market capitalization of $10.58 billion, a P/E ratio of 14.96 and a beta of 1.28.
Gap (NYSE:GPS) last posted its earnings results on Thursday, August 18th. The apparel retailer reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Gap had a net margin of 4.60% and a return on equity of 33.26%. The firm earned $3.85 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis.
Several large investors have recently made changes to their positions in GPS. Pacer Advisors Inc. boosted its stake in shares of Gap by 11.7% in the second quarter. Pacer Advisors Inc. now owns 5,777 shares of the apparel retailer’s stock worth $123,000 after buying an additional 606 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Gap by 22.1% in the second quarter. Advisory Services Network LLC now owns 5,869 shares of the apparel retailer’s stock worth $125,000 after buying an additional 1,062 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Gap during the second quarter worth about $139,000. Beddow Capital Management Inc. bought a new stake in shares of Gap during the first quarter worth about $226,000. Finally, Commonwealth Equity Services Inc bought a new stake in shares of Gap during the first quarter worth about $287,000. 57.42% of the stock is owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.92 annualized dividend and a dividend yield of 3.46%. Gap’s payout ratio is 51.98%.
Gap Company Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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