$1.26 EPS Expected for Michael Kors Holdings Ltd (KORS) This Quarter
Wall Street brokerages predict that Michael Kors Holdings Ltd (NYSE:KORS) will post earnings per share (EPS) of $1.26 for the current quarter, according to Zacks. Six analysts have provided estimates for Michael Kors’ earnings. The lowest EPS estimate is $1.22 and the highest is $1.33. Michael Kors reported earnings of $1.64 per share in the same quarter last year, which would indicate a negative year over year growth rate of 23.2%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 6th.
On average, analysts expect that Michael Kors will report full-year earnings of $3.96 per share for the current financial year, with EPS estimates ranging from $3.86 to $4.08. For the next year, analysts expect that the business will post earnings of $4.02 per share, with EPS estimates ranging from $3.44 to $4.50. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Michael Kors.
Michael Kors (NYSE:KORS) last announced its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis.
In other news, CEO John D. Idol sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total transaction of $27,560.00. Following the completion of the sale, the chief executive officer now owns 1,688,046 shares in the company, valued at $93,045,095.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Krista A. Mcdonough sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.93, for a total value of $419,475.00. Following the sale, the senior vice president now owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. The disclosure for this sale can be found here. Insiders sold 16,835 shares of company stock valued at $964,403 over the last three months. Corporate insiders own 6.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Balasa Dinverno & Foltz LLC raised its stake in shares of Michael Kors by 19.3% during the third quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock worth $415,000 after purchasing an additional 1,404 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Michael Kors by 17.4% during the second quarter. Schroder Investment Management Group now owns 2,410,156 shares of the lifestyle brand’s stock worth $86,042,000 after purchasing an additional 357,661 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Michael Kors during the third quarter worth approximately $4,255,000. Legal & General Group Plc raised its stake in shares of Michael Kors by 5.1% during the second quarter. Legal & General Group Plc now owns 818,344 shares of the lifestyle brand’s stock worth $29,663,000 after purchasing an additional 39,949 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of Michael Kors by 9,030.5% during the second quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock worth $9,102,000 after purchasing an additional 248,340 shares during the last quarter. Institutional investors and hedge funds own 86.32% of the company’s stock.
Shares of Michael Kors (NYSE:KORS) traded up $1.54 during trading on Tuesday, hitting $63.19. The stock had a trading volume of 2,406,900 shares, compared to its average volume of 2,516,674. Michael Kors has a 1-year low of $32.38 and a 1-year high of $63.20. The firm has a market capitalization of $9,374.91, a P/E ratio of 13.70, a PEG ratio of 2.08 and a beta of 0.12.
TRADEMARK VIOLATION NOTICE: This article was originally published by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.watchlistnews.com/1-26-eps-expected-for-michael-kors-holdings-ltd-kors-this-quarter/1773054.html.
Michael Kors Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Michael Kors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors and related companies with MarketBeat.com's FREE daily email newsletter.