Michael Kors Holdings Limited (NYSE:KORS) Receiving Somewhat Positive News Coverage, Accern Reports
Headlines about Michael Kors Holdings Limited (NYSE:KORS) have been trending somewhat positive on Friday, Accern Sentiment reports. Accern identifies positive and negative media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Michael Kors Holdings Limited earned a coverage optimism score of 0.24 on Accern’s scale. Accern also assigned news articles about the lifestyle brand an impact score of 45.7703999787875 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the media stories that may have effected Accern’s rankings:
- Michael Kors Holdings Limited (KORS) Issues FY18 Earnings Guidance (bulhufas.com)
- Michael Kors Holdings Limited (KORS) closed its previous trading session at $45.25 (leisuretravelaid.com)
- Michael Kors Holdings Limited (NYSE:KORS) PT Raised to $43.00 (newstrendstoday.com)
- Michael Kors Holdings Limited (KORS) Updates Q2 Earnings Guidance (elcumanes.com)
- What Really Drove Michael Kors’s Fiscal 1Q18 Top-Line Beat? (finance.yahoo.com)
KORS has been the subject of a number of research reports. BMO Capital Markets set a $38.00 target price on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Tuesday, April 18th. Deutsche Bank AG cut their target price on shares of Michael Kors Holdings Limited from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, April 25th. Jefferies Group LLC set a $65.00 target price on shares of Michael Kors Holdings Limited and gave the stock a “buy” rating in a research report on Friday, May 19th. Credit Suisse Group restated a “neutral” rating and set a $39.00 target price (down previously from $42.00) on shares of Michael Kors Holdings Limited in a research report on Wednesday, May 24th. Finally, Canaccord Genuity set a $38.00 target price on shares of Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Friday, May 26th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and four have issued a buy rating to the company. Michael Kors Holdings Limited presently has a consensus rating of “Hold” and an average price target of $42.94.
Shares of Michael Kors Holdings Limited (NYSE KORS) traded down 1.04% on Friday, reaching $44.69. 2,664,119 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $36.61 and its 200-day moving average price is $37.11. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67. The company has a market capitalization of $6.90 billion, a P/E ratio of 13.71 and a beta of 0.10.
Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The firm had revenue of $952.40 million for the quarter, compared to the consensus estimate of $919.18 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that Michael Kors Holdings Limited will post $3.71 EPS for the current year.
Michael Kors Holdings Limited declared that its board has approved a share repurchase program on Wednesday, May 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the lifestyle brand to buy up to 18.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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About Michael Kors Holdings Limited
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 tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.
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