News stories about Michael Kors Holdings Limited (NYSE:KORS) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research group ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Michael Kors Holdings Limited earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned press coverage about the lifestyle brand an impact score of 45.663492866508 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Investor are paying less for: Michael Kors Holdings Limited (KORS) – Street Observer (press release) (streetobserver.com)
- Michael Kors Holdings Limited (KORS) -4.58% away from 50 SMA – Voice Of Analysts (analystsbuzz.com)
- Michael Kors Holdings Limited (KORS)- Stocks with critical Performance Analyses – NASDAQ Times (nasdaqtimes.com)
- Michael Kors Holdings Limited (KORS) Downgraded by BidaskClub to “Strong Sell” (americanbankingnews.com)
- Sequential Brands Group (SQBG) vs. Michael Kors Holdings Limited (KORS) Financial Survey (americanbankingnews.com)
Several research firms recently issued reports on KORS. Deutsche Bank AG downgraded shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $47.00 to $40.00 in a report on Monday, May 15th. Jefferies Group LLC set a $65.00 target price on shares of Michael Kors Holdings Limited and gave the company a “buy” rating in a research note on Friday, May 19th. Canaccord Genuity reiterated a “hold” rating and set a $33.00 target price (down from $38.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, June 1st. Royal Bank Of Canada set a $42.00 target price on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Monday, March 20th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $39.00 target price (down from $42.00) on shares of Michael Kors Holdings Limited in a research note on Wednesday, May 24th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.77.
Shares of Michael Kors Holdings Limited (NYSE:KORS) opened at 34.51 on Tuesday. The company has a 50 day moving average of $35.40 and a 200-day moving average of $38.52. The firm has a market capitalization of $5.37 billion, a P/E ratio of 10.49 and a beta of 0.10. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $53.29.
Michael Kors Holdings Limited (NYSE:KORS) last announced its earnings results on Wednesday, May 31st. The lifestyle brand reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The firm’s revenue was down 11.2% on a year-over-year basis. Analysts predict that Michael Kors Holdings Limited will post $3.55 EPS for the current year.
Michael Kors Holdings Limited announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the lifestyle brand to purchase up to 18.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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Michael Kors Holdings Limited Company Profile
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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