Equities research analysts expect Gap Inc (NYSE:GPS) to announce $4.00 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for GAP’s earnings. The lowest sales estimate is $3.82 billion and the highest is $4.10 billion. GAP reported sales of $3.84 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 15th.
According to Zacks, 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 post sales of $16.92 billion, with estimates ranging from $16.52 billion to $17.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for GAP.
GAP (NYSE:GPS) last posted its earnings results on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. GAP had a net margin of 5.43% and a return on equity of 29.25%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS.
GPS has been the topic of a number of research analyst reports. UBS Group initiated coverage on shares of GAP in a research note on Thursday, June 21st. They issued a “neutral” rating and a $33.00 price target on the stock. B. Riley dropped their price target on shares of GAP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 24th. Guggenheim reissued a “hold” rating on shares of GAP in a research note on Friday, August 24th. Zacks Investment Research cut shares of GAP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, Wedbush initiated coverage on shares of GAP in a research note on Friday, August 10th. They issued a “neutral” rating and a $32.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.43.
A number of institutional investors and hedge funds have recently made changes to their positions in GPS. CSat Investment Advisory L.P. acquired a new stake in GAP during the 2nd quarter worth $148,000. Squar Milner Financial Services LLC acquired a new stake in GAP during the 2nd quarter worth $196,000. Rampart Investment Management Company LLC boosted its stake in GAP by 118.7% during the 1st quarter. Rampart Investment Management Company LLC now owns 6,398 shares of the apparel retailer’s stock worth $200,000 after purchasing an additional 3,472 shares during the last quarter. Titus Wealth Management acquired a new stake in GAP during the 2nd quarter worth $201,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in GAP during the 2nd quarter worth $202,000. 58.02% of the stock is currently owned by institutional investors.
Shares of NYSE:GPS traded up $0.04 during trading on Monday, hitting $26.67. 4,483,309 shares of the stock traded hands, compared to its average volume of 5,088,357. 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 has a market cap of $11.10 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64. GAP has a 52-week low of $25.36 and a 52-week high of $35.68.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders 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 yield of 3.64%. GAP’s dividend payout ratio (DPR) is presently 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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