Capri (NYSE:CPRI) Issues FY23 Earnings Guidance

Capri (NYSE:CPRIGet Rating) issued an update on its FY23 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.85 for the period, compared to the consensus EPS estimate of $6.74. The company issued revenue guidance of $5.85 billion, compared to the consensus revenue estimate of $5.84 billion. Capri also updated its Q2 guidance to $1.55 EPS.

Capri Stock Down 4.5 %

NYSE CPRI traded down $2.32 during mid-day trading on Tuesday, reaching $48.67. 106,047 shares of the company’s stock traded hands, compared to its average volume of 1,875,246. Capri has a 1-year low of $36.90 and a 1-year high of $72.37. The company has a fifty day simple moving average of $46.18 and a 200-day simple moving average of $51.09. The company has a current ratio of 1.21, a quick ratio of 0.51 and a debt-to-equity ratio of 0.44. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 0.65 and a beta of 2.27.

Capri (NYSE:CPRIGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.14. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.30 billion. Capri had a return on equity of 36.48% and a net margin of 14.54%. Capri’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. As a group, equities research analysts expect that Capri will post 6.82 EPS for the current year.

Capri declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 13.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPRI. The Goldman Sachs Group decreased their target price on Capri from $69.00 to $59.00 and set a buy rating for the company in a research report on Thursday, July 21st. Barclays decreased their target price on Capri from $74.00 to $63.00 and set an overweight rating for the company in a research report on Thursday, June 2nd. Citigroup cut their price target on Capri from $82.00 to $72.00 and set a buy rating on the stock in a report on Thursday, June 2nd. StockNews.com downgraded Capri from a buy rating to a hold rating in a report on Monday. Finally, Telsey Advisory Group reissued a market perform rating on shares of Capri in a report on Thursday, May 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $70.44.

Insider Buying and Selling at Capri

In other news, CEO John D. Idol sold 3,803 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $49.63, for a total value of $188,742.89. Following the sale, the chief executive officer now owns 933,268 shares of the company’s stock, valued at approximately $46,318,090.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Institutional Trading of Capri

A number of hedge funds and other institutional investors have recently modified their holdings of CPRI. Pearl River Capital LLC acquired a new position in shares of Capri in the 1st quarter worth $227,000. Walleye Capital LLC acquired a new position in shares of Capri in the 1st quarter worth $264,000. Bridgefront Capital LLC acquired a new position in shares of Capri in the 1st quarter worth $271,000. MidWestOne Financial Group Inc. acquired a new position in shares of Capri in the 1st quarter worth $333,000. Finally, AlphaCrest Capital Management LLC grew its holdings in shares of Capri by 65.6% in the 1st quarter. AlphaCrest Capital Management LLC now owns 7,288 shares of the company’s stock worth $375,000 after acquiring an additional 2,888 shares during the last quarter. Institutional investors own 88.46% of the company’s stock.

Capri Company Profile

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Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.

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Earnings History and Estimates for Capri (NYSE:CPRI)

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