Gap Inc (GPS) Expected to Announce Quarterly Sales of $3.98 Billion

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Wall Street analysts expect Gap Inc (NYSE:GPS) to announce $3.98 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for GAP’s earnings, with estimates ranging from $3.80 billion to $4.13 billion. GAP reported sales of $3.80 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The firm is expected to issue its next quarterly earnings report on Thursday, August 16th.

On average, analysts expect that GAP will report full year sales of $16.55 billion for the current fiscal year, with estimates ranging from $15.95 billion to $16.87 billion. For the next fiscal year, analysts forecast that the firm will post sales of $16.94 billion per share, with estimates ranging from $16.05 billion to $17.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow GAP.

GAP (NYSE:GPS) last released its earnings results on Thursday, May 24th. The apparel retailer reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.04). GAP had a return on equity of 28.04% and a net margin of 5.36%. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis.

A number of research firms recently weighed in on GPS. UBS Group began coverage on shares of GAP in a research note on Thursday, June 21st. They set a “neutral” rating and a $33.00 target price on the stock. Zacks Investment Research lowered shares of GAP from a “hold” rating to a “sell” rating in a research note on Monday, June 4th. MKM Partners dropped their price target on shares of GAP to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 29th. Barclays set a $39.00 price target on shares of GAP and gave the company a “buy” rating in a research note on Sunday, May 27th. Finally, Deutsche Bank dropped their price target on shares of GAP from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, May 25th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.64.

Shares of GPS stock traded up $0.45 during trading hours on Friday, reaching $29.93. 251,598 shares of the stock were exchanged, compared to its average volume of 4,997,666. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 2.03. GAP has a 12-month low of $21.84 and a 12-month high of $35.68. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.42 and a beta of 0.82.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Wednesday, July 11th will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, July 10th. GAP’s payout ratio is currently 45.54%.

In other news, Director William Sydney Fisher sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $32.37, for a total value of $32,370,000.00. Following the completion of the sale, the director now directly owns 10,760,396 shares of the company’s stock, valued at $348,314,018.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in shares of GAP in the second quarter valued at approximately $861,000. Bank of Montreal Can boosted its holdings in shares of GAP by 5.5% in the second quarter. Bank of Montreal Can now owns 3,075,518 shares of the apparel retailer’s stock valued at $99,617,000 after acquiring an additional 160,961 shares during the period. NN Investment Partners Holdings N.V. boosted its holdings in shares of GAP by 1.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 974,085 shares of the apparel retailer’s stock valued at $31,551,000 after acquiring an additional 16,779 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of GAP by 4.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 69,066 shares of the apparel retailer’s stock valued at $2,237,000 after acquiring an additional 3,007 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. boosted its holdings in shares of GAP by 176.0% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 262,389 shares of the apparel retailer’s stock valued at $8,499,000 after acquiring an additional 167,328 shares during the period. 58.57% of the stock is owned by institutional investors and hedge funds.

GAP Company Profile

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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