Brokers Issue Forecasts for Gap, Inc. (The)’s Q3 2018 Earnings (GPS)
Gap, Inc. (The) (NYSE:GPS) – Research analysts at Oppenheimer Holdings cut their Q3 2018 earnings estimates for shares of Gap, Inc. (The) in a note issued to investors on Monday. Oppenheimer Holdings analyst A. Andreeva now expects that the apparel retailer will earn $0.53 per share for the quarter, down from their prior estimate of $0.56. Oppenheimer Holdings has a “Buy” rating and a $33.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Gap, Inc. (The)’s Q4 2018 earnings at $0.58 EPS, FY2018 earnings at $2.05 EPS, Q4 2019 earnings at $0.62 EPS and FY2019 earnings at $2.18 EPS.
Several other equities analysts have also commented on the stock. Royal Bank Of Canada set a $26.00 price objective on shares of Gap, Inc. (The) and gave the company a “hold” rating in a research report on Monday. Zacks Investment Research lowered shares of Gap, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Robert W. Baird set a $26.00 price objective on shares of Gap, Inc. (The) and gave the company a “hold” rating in a research report on Sunday, October 1st. KeyCorp reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Gap, Inc. (The) in a research report on Tuesday, September 26th. Finally, Barclays PLC assumed coverage on shares of Gap, Inc. (The) in a research report on Tuesday, September 19th. They issued an “overweight” rating and a $32.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seven have given a buy rating to the company’s stock. Gap, Inc. (The) currently has an average rating of “Hold” and an average price target of $26.79.
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Gap, Inc. (The) (NYSE:GPS) last announced its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.50%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis.
Institutional investors and hedge funds have recently modified their holdings of the stock. Ffcm LLC raised its holdings in Gap, Inc. (The) by 198.0% in the 2nd quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock valued at $121,000 after buying an additional 3,519 shares during the period. Howe & Rusling Inc. acquired a new position in shares of Gap, Inc. (The) during the third quarter worth about $190,000. James Investment Research Inc. acquired a new position in shares of Gap, Inc. (The) during the second quarter worth about $144,000. Bridges Investment Management Inc. acquired a new position in shares of Gap, Inc. (The) during the third quarter worth about $236,000. Finally, Paragon Capital Management Ltd acquired a new position in Gap, Inc. (The) in the second quarter valued at approximately $229,000. Hedge funds and other institutional investors own 56.39% of the company’s stock.
In other Gap, Inc. (The) news, Director William Sydney Fisher sold 666,849 shares of Gap, Inc. (The) stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $27.99, for a total transaction of $18,665,103.51. Following the sale, the director now owns 12,237,873 shares of the company’s stock, valued at approximately $342,538,065.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeff Kirwan sold 1,000 shares of Gap, Inc. (The) stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $26.11, for a total transaction of $26,110.00. Following the sale, the chief executive officer now directly owns 24,268 shares in the company, valued at approximately $633,637.48. The disclosure for this sale can be found here. Insiders sold a total of 676,682 shares of company stock worth $18,906,180 in the last three months. 27.30% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, October 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.46%. Gap, Inc. (The)’s dividend payout ratio is currently 43.81%.
About Gap, Inc. (The)
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.
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