Gap Inc. (NYSE:GPS) – Research analysts at Jefferies Group upped their FY2018 earnings per share (EPS) estimates for Gap in a research report issued on Friday. Jefferies Group analyst R. Konik now forecasts that the brokerage will post earnings per share of $2.30 for the year, up from their previous forecast of $2.25. Jefferies Group currently has a “Buy” rating and a $32.00 price target on the stock.
Gap (NYSE:GPS) last issued 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 return on equity of 33.26% and a net margin of 4.60%. The company earned $3.85 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year.
GPS has been the subject of a number of other reports. JPMorgan Chase & Co. reiterated a “sell” rating and set a $22.00 price objective on shares of Gap in a report on Friday, August 19th. Vetr upgraded Gap from a “buy” rating to a “strong-buy” rating and set a $27.90 price objective for the company in a report on Wednesday, August 31st. RBC Capital Markets set a $23.00 price objective on Gap and gave the stock a “hold” rating in a report on Tuesday, September 13th. Nomura increased their price objective on Gap from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, August 19th. Finally, Oppenheimer Holdings Inc. reiterated a “” rating and set a $20.00 price objective on shares of Gap in a report on Monday, August 22nd. Six investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.29.
Shares of Gap (NYSE:GPS) traded up 1.09% on Monday, hitting $26.85. The stock had a trading volume of 4,852,069 shares. Gap has a 52 week low of $17.00 and a 52 week high of $30.49. The stock’s 50-day moving average price is $23.86 and its 200 day moving average price is $22.97. The company has a market cap of $10.70 billion, a PE ratio of 15.13 and a beta of 1.28.
A number of hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of Gap by 11.6% in the third quarter. Nisa Investment Advisors LLC now owns 196,798 shares of the apparel retailer’s stock worth $4,377,000 after buying an additional 20,500 shares in the last quarter. Creative Planning raised its stake in shares of Gap by 46.1% in the third quarter. Creative Planning now owns 13,019 shares of the apparel retailer’s stock worth $290,000 after buying an additional 4,107 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Gap by 39.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 139,680 shares of the apparel retailer’s stock worth $3,106,000 after buying an additional 39,407 shares in the last quarter. Acropolis Investment Management LLC raised its stake in shares of Gap by 1.2% in the third quarter. Acropolis Investment Management LLC now owns 74,920 shares of the apparel retailer’s stock worth $1,666,000 after buying an additional 900 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Gap by 11.2% in the third quarter. BNP Paribas Arbitrage SA now owns 154,810 shares of the apparel retailer’s stock worth $3,443,000 after buying an additional 15,647 shares in the last quarter. 57.42% of the stock is owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Monday, October 3rd. Gap’s dividend payout ratio is currently 51.98%.
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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