Michael Kors Holdings Limited (KORS) Releases Q3 Earnings Guidance
Michael Kors Holdings Limited (NYSE:KORS) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.26-1.31 for the period, compared to the Thomson Reuters consensus estimate of $1.52. The company issued revenue guidance of $1.245-1.280 billion, compared to the consensus revenue estimate of $1.41 billion.
Several brokerages have issued reports on KORS. Canaccord Genuity reiterated a buy rating and issued a $58.00 price objective on shares of Michael Kors Holdings Limited in a research report on Friday. Susquehanna Bancshares Inc began coverage on Michael Kors Holdings Limited in a research report on Thursday. They issued a positive rating and a $62.00 price objective for the company. Citigroup Inc. began coverage on Michael Kors Holdings Limited in a research report on Thursday. They issued a positive rating and a $62.00 price objective for the company. BidaskClub downgraded Michael Kors Holdings Limited from a buy rating to a hold rating in a research report on Thursday. Finally, Jefferies Group LLC set a $60.00 price objective on Michael Kors Holdings Limited and gave the company a buy rating in a research report on Sunday, October 29th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have given a buy rating to the stock. Michael Kors Holdings Limited presently has a consensus rating of Hold and an average target price of $46.50.
Shares of Michael Kors Holdings Limited (NYSE KORS) opened at $47.62 on Monday. The firm has a market capitalization of $7,219.72, a PE ratio of 11.56 and a beta of 0.05.
Michael Kors Holdings Limited (NYSE:KORS) last released its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The business had revenue of $952.40 million for the quarter, compared to analyst estimates of $919.18 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. Michael Kors Holdings Limited’s revenue was down 3.6% on a year-over-year basis. equities research analysts forecast that Michael Kors Holdings Limited will post 3.74 earnings per share for the current year.
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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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