$1.05 Billion in Sales Expected for Michael Kors Holdings Limited (KORS) This Quarter

Wall Street analysts forecast that Michael Kors Holdings Limited (NYSE:KORS) will post $1.05 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Michael Kors Holdings Limited’s earnings. The lowest sales estimate is $1.04 billion and the highest is $1.05 billion. Michael Kors Holdings Limited posted sales of $1.09 billion during the same quarter last year, which suggests a negative year over year growth rate of 3.7%. The company is expected to issue its next quarterly earnings report before the market opens on Monday, November 6th.

On average, analysts expect that Michael Kors Holdings Limited will report full year sales of $1.05 billion for the current year, with estimates ranging from $4.55 billion to $4.58 billion. For the next fiscal year, analysts expect that the business will report sales of $4.75 billion per share, with estimates ranging from $4.68 billion to $4.81 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Michael Kors Holdings Limited.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.18. The firm had revenue of $952.40 million for the quarter, compared to analysts’ expectations of $919.18 million. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS.

Several research firms have recently commented on KORS. ValuEngine downgraded shares of Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group LLC set a $60.00 price objective on shares of Michael Kors Holdings Limited and gave the stock a “buy” rating in a research note on Tuesday, July 4th. William Blair reiterated a “buy” rating on shares of Michael Kors Holdings Limited in a research note on Friday, October 20th. Barclays PLC began coverage on shares of Michael Kors Holdings Limited in a research note on Tuesday, September 19th. They set an “equal weight” rating and a $44.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $45.35.

Michael Kors Holdings Limited (NYSE:KORS) traded down 1.49% during trading on Wednesday, hitting $49.02. The stock had a trading volume of 1,121,101 shares. The firm has a 50 day moving average of $47.07 and a 200-day moving average of $39.95. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 15.04 and a beta of 0.03. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Michael Kors Holdings Limited by 9.3% during the 2nd quarter. BlackRock Inc. now owns 15,287,608 shares of the lifestyle brand’s stock valued at $554,176,000 after acquiring an additional 1,301,796 shares in the last quarter. Flossbach Von Storch AG grew its stake in Michael Kors Holdings Limited by 12.9% during the 2nd quarter. Flossbach Von Storch AG now owns 11,972,527 shares of the lifestyle brand’s stock valued at $434,004,000 after acquiring an additional 1,366,038 shares in the last quarter. APG Asset Management N.V. grew its stake in Michael Kors Holdings Limited by 0.5% during the 3rd quarter. APG Asset Management N.V. now owns 4,454,174 shares of the lifestyle brand’s stock valued at $213,132,000 after acquiring an additional 23,200 shares in the last quarter. FMR LLC grew its stake in Michael Kors Holdings Limited by 33.9% during the 2nd quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock valued at $158,708,000 after acquiring an additional 1,107,385 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in Michael Kors Holdings Limited by 24.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,572,603 shares of the lifestyle brand’s stock valued at $93,256,000 after acquiring an additional 506,071 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

About Michael Kors Holdings Limited

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.

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