Equities research analysts predict that Gap, Inc. (The) (NYSE:GPS) will post sales of $3.78 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Gap, Inc. (The)’s earnings. The lowest sales estimate is $3.71 billion and the highest is $3.85 billion. Gap, Inc. (The) posted sales of $3.80 billion during the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The firm is expected to report its next quarterly earnings report on Thursday, November 16th.
On average, analysts expect that Gap, Inc. (The) will report full year sales of $3.78 billion for the current fiscal year, with estimates ranging from $15.26 billion to $15.87 billion. For the next year, analysts forecast that the business will report sales of $15.73 billion per share, with estimates ranging from $15.22 billion to $16.15 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Gap, Inc. (The).
Gap, Inc. (The) (NYSE:GPS) last released its earnings results on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.77 billion. Gap, Inc. (The) had a return on equity of 28.50% and a net margin of 5.42%. Gap, Inc. (The)’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS.
GPS has been the subject of several research analyst reports. Zacks Investment Research upgraded Gap, Inc. (The) from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Tuesday, August 8th. Jefferies Group LLC set a $35.00 price target on Gap, Inc. (The) and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Oppenheimer Holdings, Inc. set a $28.00 price target on Gap, Inc. (The) and gave the stock a “buy” rating in a research note on Thursday, August 17th. ValuEngine upgraded Gap, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Finally, KeyCorp restated a “buy” rating and set a $33.00 price target on shares of Gap, Inc. (The) in a research note on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.79.
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Gap, Inc. (NYSE:GPS) opened at 28.73 on Tuesday. Gap, Inc. has a 52-week low of $21.02 and a 52-week high of $30.74. The firm has a 50-day moving average price of $26.73 and a 200 day moving average price of $24.39. The firm has a market capitalization of $11.27 billion, a P/E ratio of 13.69 and a beta of 0.87.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, October 3rd. Gap, Inc. (The)’s dividend payout ratio (DPR) is 43.81%.
In related news, EVP Paul Joseph Chapman sold 4,898 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $22.82, for a total value of $111,772.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeff Kirwan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $29.38, for a total value of $29,380.00. Following the completion of the sale, the chief executive officer now directly owns 25,268 shares in the company, valued at approximately $742,373.84. The disclosure for this sale can be found here. In the last three months, insiders sold 676,682 shares of company stock worth $18,903,910. Company insiders own 27.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ffcm LLC lifted its holdings in shares of Gap, Inc. (The) by 198.0% in the 2nd quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock worth $121,000 after purchasing an additional 3,519 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Gap, Inc. (The) in the 1st quarter worth approximately $127,000. James Investment Research Inc. bought a new stake in shares of Gap, Inc. (The) in the 2nd quarter worth approximately $144,000. Paragon Capital Management Ltd bought a new stake in shares of Gap, Inc. (The) in the 2nd quarter worth approximately $229,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Gap, Inc. (The) by 67.8% in the 1st quarter. Pacer Advisors Inc. now owns 9,581 shares of the apparel retailer’s stock worth $233,000 after purchasing an additional 3,872 shares during the last quarter. 56.22% of the stock is currently owned by institutional investors and hedge funds.
Gap, Inc. (The) Company Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.