Michael Kors Holdings Limited (KORS) Earning Favorable News Coverage, Analysis Finds
Headlines about Michael Kors Holdings Limited (NYSE:KORS) have been trending positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Michael Kors Holdings Limited earned a media sentiment score of 0.26 on Accern’s scale. Accern also gave media coverage about the lifestyle brand an impact score of 45.9613994690014 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the news headlines that may have effected Accern’s analysis:
- Analyzing L Brands (LTD) & Michael Kors Holdings Limited (KORS) (americanbankingnews.com)
- Jimmy Choo : Results of Russian antitrust clearance (4-traders.com)
- Michael Kors Holdings Limited (NYSE:KORS) – Active Mover – The Investor Guide (wallstreetnews24.com)
- Michael Kors Continues Its Late Summer Surge: Should You Buy Heading Into The Holiday Season? – Baystreet.ca (baystreet.ca)
- RSI discloses Michael Kors Holdings Limited (KORS) stock could lead to a down move – Voice Of Analysts (analystsbuzz.com)
Shares of Michael Kors Holdings Limited (KORS) opened at 46.16 on Monday. Michael Kors Holdings Limited has a 52-week low of $32.38 and a 52-week high of $52.67. The company has a market cap of $6.99 billion and a P/E ratio of 14.16. The firm has a 50-day moving average of $42.35 and a 200-day moving average of $37.81.
Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The business had revenue of $952.40 million for the quarter, compared to analyst estimates of $919.18 million. During the same quarter in the prior year, the business posted $0.88 EPS. Michael Kors Holdings Limited’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts forecast that Michael Kors Holdings Limited will post $3.70 earnings per share for the current year.
Michael Kors Holdings Limited announced that its board has authorized a share buyback program on Wednesday, May 31st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the lifestyle brand to reacquire up to 18.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently commented on KORS. ValuEngine cut Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Canaccord Genuity reaffirmed a “hold” rating and set a $33.00 price objective (down from $38.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, June 1st. Jefferies Group LLC set a $60.00 price objective on Michael Kors Holdings Limited and gave the company a “buy” rating in a research note on Tuesday, July 4th. Deutsche Bank AG reaffirmed a “hold” rating and set a $36.00 price objective on shares of Michael Kors Holdings Limited in a research note on Friday, June 16th. Finally, Barclays PLC initiated coverage on Michael Kors Holdings Limited in a research note on Tuesday, September 19th. They set an “equal weight” rating and a $44.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and six have given a buy rating to the company. Michael Kors Holdings Limited has an average rating of “Hold” and a consensus target price of $43.94.
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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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