Equities research analysts expect that Michael Kors Holdings Ltd (NYSE:KORS) will announce sales of $1.14 billion for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Michael Kors’ earnings. The lowest sales estimate is $1.13 billion and the highest is $1.15 billion. Michael Kors reported sales of $952.40 million during the same quarter last year, which indicates a positive year over year growth rate of 19.7%. The company is scheduled to report its next earnings report on Tuesday, August 14th.
On average, analysts expect that Michael Kors will report full-year sales of $5.10 billion for the current year, with estimates ranging from $5.06 billion to $5.12 billion. For the next year, analysts forecast that the firm will report sales of $5.22 billion per share, with estimates ranging from $5.10 billion to $5.33 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Michael Kors.
Michael Kors (NYSE:KORS) last released its quarterly earnings data on Wednesday, May 30th. The lifestyle brand reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Michael Kors had a net margin of 12.54% and a return on equity of 37.39%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share.
Shares of Michael Kors traded up $1.67, hitting $67.52, on Friday, MarketBeat Ratings reports. 2,575,146 shares of the company traded hands, compared to its average volume of 4,206,579. The stock has a market cap of $9.87 billion, a P/E ratio of 14.94, a PEG ratio of 2.16 and a beta of 0.08. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.31 and a quick ratio of 0.63. Michael Kors has a 52 week low of $32.81 and a 52 week high of $70.00.
In other Michael Kors news, SVP Cathy Marie Robinson sold 6,097 shares of Michael Kors stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $63.58, for a total transaction of $387,647.26. Following the completion of the transaction, the senior vice president now directly owns 24,936 shares of the company’s stock, valued at $1,585,430.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John D. Idol sold 150,000 shares of Michael Kors stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $62.87, for a total transaction of $9,430,500.00. Following the transaction, the chief executive officer now directly owns 1,787,546 shares of the company’s stock, valued at $112,383,017.02. The disclosure for this sale can be found here. Insiders have sold 618,197 shares of company stock valued at $41,026,754 over the last ninety days. 6.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. USA Mutuals Advisors Inc. purchased a new stake in shares of Michael Kors during the fourth quarter valued at $100,000. Jacobi Capital Management LLC boosted its stake in shares of Michael Kors by 66.8% during the first quarter. Jacobi Capital Management LLC now owns 2,627 shares of the lifestyle brand’s stock valued at $163,000 after purchasing an additional 1,052 shares during the period. Lido Advisors LLC purchased a new stake in shares of Michael Kors during the first quarter valued at $212,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Michael Kors during the fourth quarter valued at $221,000. Finally, Bank of Hawaii purchased a new stake in shares of Michael Kors during the fourth quarter valued at $246,000. 81.92% of the stock is owned by hedge funds and other institutional investors.
About Michael Kors
Michael Kors Holdings Limited design, markets, distributes, and retails branded women's apparel and accessories, and men's apparel. The company operates in three segments: Retail, Wholesale, and Licensing. The Retail segment is involved in the sale of women's apparel; men's apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances, beauty products, and eyewear.
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