Michael Kors Holdings Ltd’s “Hold” Rating Reaffirmed at TheStreet (KORS)
Michael Kors Holdings Ltd (NASDAQ: KORS)‘s stock had its “hold” rating reaffirmed by research analysts at TheStreet in a report released on Tuesday.
The analysts wrote, “Michael Kors Holdings (KORS) has been reiterated by TheStreet Ratings as a hold with a ratings score of C- . The company’s strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity and robust revenue growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation.”
Michael Kors Holdings Ltd opened at 55.00 on Tuesday. 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 $10.978 billion and a price-to-earnings ratio of 32.24.
Michael Kors Holdings Ltd last released its earnings data on Tuesday, February 12th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 70.4% on a year-over-year basis. 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.
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee initiated coverage on shares of Michael Kors Holdings Ltd in a research note to investors on Monday, March 4th. They set a “neutral” rating and a $62.00 price target on the stock. Separately, analysts at Cowen initiated coverage on shares of Michael Kors Holdings Ltd in a research note to investors on Tuesday, February 26th. They set an “outperform” rating on the stock. Finally, analysts at Citigroup upgraded shares of Michael Kors Holdings Ltd to a “top pick” rating in a research note to investors on Wednesday, February 20th.
Twelve equities research analysts have rated the stock with a buy rating, one has given an overweight rating, and two have assigned a hold rating to the company’s stock. Michael Kors Holdings Ltd presently has an average rating of “buy” and an average target price of $73.60.
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.
To view TheStreet’s full report, visit www.thestreetratings.com
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