Wall Street analysts predict that Gap Inc (NYSE:GPS) will post sales of $3.99 billion for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for GAP’s earnings. The highest sales estimate is $4.10 billion and the lowest is $3.82 billion. GAP posted sales of $3.84 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.9%. The business is scheduled to report its next quarterly earnings results after the market closes on Tuesday, November 20th.
According to Zacks, analysts expect that GAP will report full year sales of $16.49 billion for the current financial year, with estimates ranging from $16.15 billion to $16.73 billion. For the next fiscal year, analysts forecast that the company will post sales of $16.90 billion, with estimates ranging from $16.52 billion to $17.29 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for GAP.
GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. GAP had a net margin of 5.43% and a return on equity of 29.25%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year.
Several analysts have recently weighed in on the stock. B. Riley dropped their price target on shares of GAP from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, August 24th. Wedbush began coverage on shares of GAP in a research report on Friday, August 10th. They set a “neutral” rating and a $32.00 price objective for the company. Barclays set a $39.00 price objective on shares of GAP and gave the stock a “buy” rating in a research report on Saturday, August 25th. Guggenheim reaffirmed a “hold” rating on shares of GAP in a research report on Friday, August 24th. Finally, Zacks Investment Research raised shares of GAP from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.72.
Hedge funds have recently modified their holdings of the business. CSat Investment Advisory L.P. purchased a new position in GAP in the 2nd quarter valued at approximately $148,000. Cornerstone Wealth Management LLC acquired a new stake in shares of GAP in the 3rd quarter valued at $204,000. Squar Milner Financial Services LLC acquired a new stake in shares of GAP in the 2nd quarter valued at $196,000. Titus Wealth Management acquired a new stake in shares of GAP in the 2nd quarter valued at $201,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of GAP in the 2nd quarter valued at $202,000. 57.95% of the stock is owned by institutional investors.
GPS stock traded up $0.10 during mid-day trading on Thursday, reaching $27.86. The company’s stock had a trading volume of 4,314,224 shares, compared to its average volume of 5,079,461. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.20 and a beta of 0.71. The company has a current ratio of 1.96, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. GAP has a fifty-two week low of $25.27 and a fifty-two week high of $35.68.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th were given a $0.2425 dividend. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $0.97 annualized dividend and a yield of 3.48%. GAP’s dividend payout ratio is presently 45.54%.
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.
Featured Story: Cost of Capital Explained
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GAP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GAP and related companies with MarketBeat.com's FREE daily email newsletter.