Gap’s (NYSE:GPS) same-store sales fell 4% in the month of September. The company missed analysts’ expectations of a 3.6% year-over-year decline in sales. Gap’s shares fell by 6.3% in the first full-day of trading following the report.
Several analysts have issued reports on the company. Vetr lowered Gap from a “buy” rating to a “hold” rating and set a $27.90 price objective on the stock. in a research note on Monday, August 22nd. Oppenheimer Holdings Inc. restated a “” rating and issued a $20.00 price objective on shares of Gap in a research note on Monday, August 22nd. Jefferies Group restated a “buy” rating on shares of Gap in a research note on Monday, August 29th. Citigroup Inc. upped their price objective on Gap from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Finally, Robert W. Baird upped their price objective on Gap from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Seven investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $24.94.
Gap (NYSE:GPS) opened at 22.24 on Friday. The company has a market cap of $8.86 billion, a PE ratio of 12.53 and a beta of 1.17. Gap has a 52-week low of $17.00 and a 52-week high of $30.49. The firm’s 50 day moving average is $24.21 and its 200 day moving average is $23.29.
Gap (NYSE:GPS) last released its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. Gap had a net margin of 4.60% and a return on equity of 33.26%. The firm earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts forecast that Gap will post ($0.01) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.14%. Gap’s dividend payout ratio is presently 51.98%.
Several institutional investors have recently added to or reduced their stakes in GPS. Pacer Advisors Inc. boosted its position in Gap by 11.7% in the second quarter. Pacer Advisors Inc. now owns 5,777 shares of the apparel retailer’s stock worth $123,000 after buying an additional 606 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Gap by 22.1% in the second quarter. Advisory Services Network LLC now owns 5,869 shares of the apparel retailer’s stock worth $125,000 after buying an additional 1,062 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Gap during the second quarter worth $139,000. Sigma Planning Corp bought a new stake in shares of Gap during the second quarter worth $216,000. Finally, Beddow Capital Management Inc. bought a new stake in shares of Gap during the first quarter worth $226,000. 57.42% of the stock is owned by hedge funds and other institutional investors.
Gap Company Profile
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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