Analysts expect Michael Kors Holdings Ltd (NYSE:KORS) to announce sales of $1.14 billion for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Michael Kors’ earnings. The highest sales estimate is $1.16 billion and the lowest is $1.13 billion. Michael Kors reported sales of $1.06 billion during the same quarter last year, which indicates a positive year over year growth rate of 7.5%. The business is expected to issue its next quarterly earnings report on Wednesday, May 30th.
On average, analysts expect that Michael Kors will report full year sales of $1.14 billion for the current financial year, with estimates ranging from $4.67 billion to $4.69 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.97 billion per share, with estimates ranging from $4.84 billion to $5.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Michael Kors.
Michael Kors (NYSE:KORS) last released its quarterly earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, topping the consensus estimate of $1.29 by $0.48. Michael Kors had a return on equity of 40.86% and a net margin of 11.32%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis.
In other Michael Kors news, Director M William Benedetto sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.94, for a total transaction of $255,760.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $62.26, for a total value of $9,339,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 557,090 shares of company stock worth $34,547,282. Corporate insiders own 6.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Michael Kors during the fourth quarter worth about $268,000. Xact Kapitalforvaltning AB grew its holdings in shares of Michael Kors by 4.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 34,702 shares of the lifestyle brand’s stock worth $2,184,000 after buying an additional 1,617 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Michael Kors by 247.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 29,610 shares of the lifestyle brand’s stock worth $1,863,000 after buying an additional 21,079 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Michael Kors by 248.7% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 146,391 shares of the lifestyle brand’s stock worth $9,215,000 after buying an additional 104,406 shares during the last quarter. Finally, Tuttle Tactical Management LLC purchased a new position in shares of Michael Kors during the fourth quarter worth about $733,000. 85.47% of the stock is currently owned by institutional investors.
Shares of KORS traded down $1.16 during midday trading on Friday, hitting $64.86. 2,724,622 shares of the stock were exchanged, compared to its average volume of 2,186,876. Michael Kors has a 52-week low of $32.38 and a 52-week high of $69.95. The firm has a market cap of $9,785.88, a P/E ratio of 15.30, a P/E/G ratio of 1.95 and a beta of 0.17. The company has a quick ratio of 1.06, a current ratio of 2.00 and a debt-to-equity ratio of 0.48.
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About Michael Kors
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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