GAP (NYSE:GPS – Get Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.30-0.60 for the period, compared to the consensus estimate of $1.30. GAP also updated its FY 2022 guidance to $0.30-$0.60 EPS.
A number of brokerages have issued reports on GPS. Guggenheim upgraded shares of GAP from a neutral rating to a buy rating and set a $22.00 target price on the stock in a research report on Monday, April 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of GAP from $26.00 to $17.00 and set a buy rating on the stock in a research report on Friday, April 22nd. Robert W. Baird reduced their price target on shares of GAP from $18.00 to $14.00 in a research report on Friday, April 22nd. Zacks Investment Research lowered shares of GAP from a hold rating to a strong sell rating and set a $11.00 price target on the stock. in a research report on Wednesday, May 4th. Finally, Credit Suisse Group reduced their price target on shares of GAP from $16.00 to $13.00 and set a neutral rating on the stock in a research report on Friday, April 22nd. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $15.83.
Shares of GPS stock traded up $0.47 during trading hours on Thursday, hitting $11.12. 23,404,923 shares of the company’s stock traded hands, compared to its average volume of 10,492,930. The stock’s 50 day simple moving average is $13.09 and its 200 day simple moving average is $15.93. The stock has a market cap of $4.11 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.73 and a beta of 1.66. GAP has a 12 month low of $9.24 and a 12 month high of $35.35. The company has a quick ratio of 0.53, a current ratio of 1.27 and a debt-to-equity ratio of 0.55.
GAP (NYSE:GPS – Get Rating) last announced its earnings results on Thursday, March 3rd. The apparel retailer reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. GAP had a net margin of 1.54% and a return on equity of 19.48%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the firm earned $0.28 earnings per share. GAP’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that GAP will post 1.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Tuesday, July 5th. GAP’s dividend payout ratio is presently 90.91%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd grew its holdings in GAP by 208.4% in the first quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock worth $97,000 after purchasing an additional 4,678 shares during the period. US Bancorp DE grew its holdings in GAP by 34.9% in the first quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock worth $170,000 after purchasing an additional 3,132 shares during the period. Weiss Multi Strategy Advisers LLC acquired a new stake in GAP in the first quarter worth $915,000. American International Group Inc. grew its holdings in GAP by 470.4% in the first quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock worth $5,075,000 after purchasing an additional 297,247 shares during the period. Finally, Rhumbline Advisers grew its holdings in GAP by 54.9% in the first quarter. Rhumbline Advisers now owns 535,779 shares of the apparel retailer’s stock worth $7,544,000 after purchasing an additional 189,872 shares during the period. 58.23% of the stock is owned by institutional investors and hedge funds.
GAP Company Profile (Get Rating)
The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.
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