Equities analysts expect that Michael Kors Holdings Ltd (NYSE:KORS) will report sales of $1.26 billion for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Michael Kors’ earnings, with the highest sales estimate coming in at $1.27 billion and the lowest estimate coming in at $1.25 billion. Michael Kors posted sales of $1.15 billion during the same quarter last year, which suggests a positive year over year growth rate of 9.6%. The business is scheduled to announce its next quarterly earnings report on Monday, November 5th.

On average, analysts expect that Michael Kors will report full year sales of $5.14 billion for the current fiscal year, with estimates ranging from $5.12 billion to $5.18 billion. For the next financial year, analysts expect that the firm will post sales of $5.28 billion, with estimates ranging from $5.17 billion to $5.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Michael Kors.

Michael Kors (NYSE:KORS) last announced its earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.37. Michael Kors had a net margin of 13.14% and a return on equity of 39.01%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year.

KORS has been the topic of several research analyst reports. Deutsche Bank set a $83.00 target price on shares of Michael Kors and gave the company a “buy” rating in a research report on Friday, June 1st. Nomura set a $80.00 target price on shares of Michael Kors and gave the company a “buy” rating in a research report on Thursday, May 31st. Needham & Company LLC set a $75.00 target price on shares of Michael Kors and gave the company a “buy” rating in a research report on Thursday, May 31st. Deutsche Bank set a $83.00 target price on shares of Michael Kors and gave the company a “buy” rating in a research report on Thursday, May 31st. Finally, Canaccord Genuity set a $84.00 target price on shares of Michael Kors and gave the company a “buy” rating in a research report on Tuesday, May 29th. Eighteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Michael Kors currently has a consensus rating of “Hold” and an average price target of $75.14.

In other Michael Kors news, CEO John D. Idol sold 150,000 shares of Michael Kors stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $73.24, for a total transaction of $10,986,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael David Kors sold 179,920 shares of Michael Kors stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $73.62, for a total transaction of $13,245,710.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 809,840 shares of company stock worth $58,216,002. Insiders own 6.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of KORS. Swiss National Bank increased its position in shares of Michael Kors by 3.1% during the second quarter. Swiss National Bank now owns 503,100 shares of the lifestyle brand’s stock valued at $33,506,000 after acquiring an additional 15,100 shares during the last quarter. AMP Capital Investors Ltd increased its position in shares of Michael Kors by 8.5% during the second quarter. AMP Capital Investors Ltd now owns 273,946 shares of the lifestyle brand’s stock valued at $18,246,000 after acquiring an additional 21,554 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Michael Kors by 42.5% during the second quarter. Voya Investment Management LLC now owns 108,969 shares of the lifestyle brand’s stock valued at $7,258,000 after acquiring an additional 32,494 shares during the last quarter. Glen Harbor Capital Management LLC increased its position in shares of Michael Kors by 5.0% during the second quarter. Glen Harbor Capital Management LLC now owns 208,672 shares of the lifestyle brand’s stock valued at $13,898,000 after acquiring an additional 9,904 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Michael Kors by 109.9% during the second quarter. Janus Henderson Group PLC now owns 1,763,621 shares of the lifestyle brand’s stock valued at $117,457,000 after acquiring an additional 923,447 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.

Shares of NYSE KORS traded up $0.01 during trading on Friday, hitting $68.02. The company had a trading volume of 2,324,500 shares, compared to its average volume of 2,353,500. Michael Kors has a fifty-two week low of $46.70 and a fifty-two week high of $75.96. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.11. The company has a quick ratio of 0.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

Michael Kors Company Profile

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Earnings History and Estimates for Michael Kors (NYSE:KORS)

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