Brokerages expect Michael Kors Holdings Limited (NYSE:KORS) to announce $1.05 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Michael Kors Holdings Limited’s earnings. The lowest sales estimate is $1.04 billion and the highest is $1.05 billion. Michael Kors Holdings Limited also reported sales of $1.05 billion in the same quarter last year. The business is expected to report its next earnings results on Thursday, November 9th.

On average, analysts expect that Michael Kors Holdings Limited will report full-year sales of $1.05 billion for the current financial year, with estimates ranging from $4.21 billion to $4.58 billion. For the next year, analysts forecast that the company will post sales of $4.37 billion per share, with estimates ranging from $4.18 billion to $4.77 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Michael Kors Holdings Limited.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $919.18 million. During the same period in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis.

KORS has been the subject of several recent analyst reports. Deutsche Bank AG restated a “hold” rating and issued a $36.00 target price (down from $40.00) on shares of Michael Kors Holdings Limited in a research note on Saturday, June 3rd. BidaskClub upgraded shares of Michael Kors Holdings Limited from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Telsey Advisory Group raised their target price on shares of Michael Kors Holdings Limited from $38.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday, August 9th. BMO Capital Markets set a $35.00 target price on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a research note on Wednesday, May 31st. Finally, Cowen and Company restated a “market perform” rating and issued a $45.00 target price (up from $35.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and four have assigned a buy rating to the company. Michael Kors Holdings Limited presently has a consensus rating of “Hold” and a consensus price target of $42.77.

Shares of Michael Kors Holdings Limited (NYSE KORS) opened at 42.32 on Wednesday. The stock has a 50 day moving average price of $38.51 and a 200 day moving average price of $37.18. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67. The stock has a market capitalization of $6.41 billion, a P/E ratio of 12.98 and a beta of 0.10.

Michael Kors Holdings Limited declared that its board has authorized a share repurchase plan on Wednesday, May 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the lifestyle brand to buy up to 18.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Michael Kors Holdings Limited by 3,587.4% in the first quarter. BlackRock Inc. now owns 13,985,812 shares of the lifestyle brand’s stock worth $532,997,000 after buying an additional 13,606,521 shares during the last quarter. Flossbach Von Storch AG boosted its position in Michael Kors Holdings Limited by 12.9% in the second quarter. Flossbach Von Storch AG now owns 11,972,527 shares of the lifestyle brand’s stock worth $434,004,000 after buying an additional 1,366,038 shares during the last quarter. FMR LLC boosted its position in Michael Kors Holdings Limited by 33.9% in the second quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock worth $158,708,000 after buying an additional 1,107,385 shares during the last quarter. Bank of Nova Scotia boosted its position in Michael Kors Holdings Limited by 5,697.0% in the first quarter. Bank of Nova Scotia now owns 678,248 shares of the lifestyle brand’s stock worth $25,848,000 after buying an additional 666,548 shares during the last quarter. Finally, PDT Partners LLC boosted its position in Michael Kors Holdings Limited by 590.2% in the second quarter. PDT Partners LLC now owns 639,200 shares of the lifestyle brand’s stock worth $23,171,000 after buying an additional 546,588 shares during the last quarter. 83.38% of the stock is owned by institutional investors.

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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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