Michael Kors Holdings Ltd Stock Rating Reaffirmed by Citigroup (KORS)
Michael Kors Holdings Ltd (NASDAQ: KORS)‘s stock had its “buy” rating restated by analysts at Citigroup in a research report issued to clients and investors on Tuesday. They currently have a $75.00 price target on the stock.
A number of other firms have also recently commented on KORS. Analysts at Buckingham Research reiterated a “buy” rating on shares of Michael Kors Holdings Ltd in a research note to investors on Tuesday. They now have a $55.00 price target on the stock. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Michael Kors Holdings Ltd in a research note to investors on Tuesday. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Michael Kors Holdings Ltd in a research note to investors on Friday.
Twelve analysts have rated the stock with a buy rating, one has given an overweight rating, and two have issued a hold rating to the company’s stock. The company currently has an average rating of “buy” and a consensus target price of $73.60.
Michael Kors Holdings Ltd traded up 2.33% on Tuesday, hitting $56.28. Michael Kors Holdings Ltd has a 1-year low of $35.50 and a 1-year high of $65.10. The stock’s 50-day moving average is currently $58.40. The company has a market cap of $11.233 billion and a price-to-earnings ratio of 32.24.
Michael Kors Holdings Ltd last posted its quarterly earnings results on Tuesday, February 12th. The company reported $0.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.23. The company had revenue of $636.80 million for the quarter, compared to the consensus estimate of $540.30 million. During the same quarter last year, the company posted $0.28 earnings per share. Michael Kors Holdings Ltd’s revenue was up 70.4% compared to the same quarter last year. Michael Kors Holdings Ltd has set its Q4 guidance at $0.32-0.34 EPS and its FY13 guidance at $1.80-1.82 EPS. Analysts expect that Michael Kors Holdings Ltd will post $1.86 EPS for the current fiscal year.
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 name and MICHAEL KORS, MICHAEL MICHAEL KORS, KORS MICHAEL KORS and various other related logos.
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