Wall Street brokerages expect Gap Inc (NYSE:GPS) to report sales of $4.00 billion for the current quarter, Zacks reports. Nine analysts have provided estimates for GAP’s earnings. The lowest sales estimate is $3.82 billion and the highest is $4.10 billion. GAP posted sales of $3.84 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.2%. The business is scheduled to issue its next earnings report on Thursday, November 15th.
On average, analysts expect that GAP will report full year sales of $16.49 billion for the current fiscal year, with estimates ranging from $16.15 billion to $16.73 billion. For the next financial year, analysts anticipate that the business will report sales of $16.92 billion, with estimates ranging from $16.52 billion to $17.50 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover GAP.
GAP (NYSE:GPS) last posted its earnings results on Thursday, August 23rd. The apparel retailer reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. GAP had a net margin of 5.43% and a return on equity of 29.25%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. GAP’s quarterly revenue was up 7.5% on a year-over-year basis.
Several equities research analysts recently commented on GPS shares. MKM Partners reduced their price target on shares of GAP to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, May 29th. Citigroup upgraded shares of GAP from a “sell” rating to a “neutral” rating and set a $28.00 price objective on the stock in a research note on Monday, August 27th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of GAP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. UBS Group started coverage on shares of GAP in a research note on Thursday, June 21st. They issued a “neutral” rating and a $33.00 price objective on the stock. Finally, Guggenheim reiterated a “hold” rating on shares of GAP in a research note on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $33.74.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in GAP by 0.8% in the 1st quarter. BlackRock Inc. now owns 17,263,705 shares of the apparel retailer’s stock valued at $538,626,000 after buying an additional 133,362 shares during the last quarter. JPMorgan Chase & Co. grew its stake in GAP by 25.8% in the 1st quarter. JPMorgan Chase & Co. now owns 12,542,927 shares of the apparel retailer’s stock valued at $391,339,000 after buying an additional 2,575,906 shares during the last quarter. Wells Fargo & Company MN grew its stake in GAP by 41.9% in the 2nd quarter. Wells Fargo & Company MN now owns 4,137,469 shares of the apparel retailer’s stock valued at $134,013,000 after buying an additional 1,221,383 shares during the last quarter. Northern Trust Corp grew its stake in GAP by 0.9% in the 1st quarter. Northern Trust Corp now owns 3,703,323 shares of the apparel retailer’s stock valued at $115,543,000 after buying an additional 32,088 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in GAP by 5.5% in the 2nd quarter. Bank of Montreal Can now owns 3,075,518 shares of the apparel retailer’s stock valued at $99,617,000 after buying an additional 160,961 shares during the last quarter. Institutional investors own 58.00% of the company’s stock.
GPS stock traded up $0.62 on Friday, hitting $28.58. 4,649,200 shares of the company’s stock traded hands, compared to its average volume of 5,108,345. GAP has a 1-year low of $25.36 and a 1-year high of $35.68. The firm has a market cap of $10.66 billion, a PE ratio of 13.27, a P/E/G ratio of 1.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.96 and a quick ratio of 1.02.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be paid a dividend of $0.2425 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $0.97 annualized dividend and a dividend yield of 3.39%. GAP’s dividend payout ratio (DPR) is 45.54%.
GAP Company Profile
The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.
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