Capri Holdings Ltd (NYSE:CPRI) – Piper Jaffray Companies lowered their Q3 2020 earnings estimates for shares of Capri in a note issued to investors on Wednesday, August 7th. Piper Jaffray Companies analyst E. Murphy now anticipates that the company will post earnings per share of $1.52 for the quarter, down from their previous estimate of $1.73. Piper Jaffray Companies also issued estimates for Capri’s Q4 2020 earnings at $1.18 EPS, FY2020 earnings at $4.90 EPS, Q1 2021 earnings at $1.08 EPS, Q3 2021 earnings at $1.62 EPS and FY2021 earnings at $5.36 EPS.
A number of other research firms have also issued reports on CPRI. Needham & Company LLC cut their price target on shares of Capri from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday. Guggenheim restated a “hold” rating on shares of Capri in a report on Wednesday, May 29th. Zacks Investment Research upgraded shares of Capri from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, May 8th. ValuEngine lowered shares of Capri from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 24th. Finally, Argus assumed coverage on shares of Capri in a report on Wednesday, June 12th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $51.64.
Capri (NYSE:CPRI) last released its earnings results on Wednesday, August 7th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. Capri had a net margin of 10.36% and a return on equity of 33.75%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business earned $1.32 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis.
In related news, CEO John D. Idol acquired 615,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were purchased at an average price of $32.57 per share, for a total transaction of $20,030,550.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas Jr. Edwards acquired 11,600 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was bought at an average price of $34.41 per share, for a total transaction of $399,156.00. The disclosure for this purchase can be found here. 5.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. FMR LLC acquired a new position in Capri in the 1st quarter valued at approximately $312,693,000. Rhumbline Advisers acquired a new position in shares of Capri during the 1st quarter worth $9,998,000. California Public Employees Retirement System acquired a new position in shares of Capri during the 1st quarter worth $19,779,000. New York State Common Retirement Fund acquired a new position in shares of Capri during the 1st quarter worth $12,820,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Capri during the 1st quarter worth $43,256,000. Hedge funds and other institutional investors own 86.48% of the company’s stock.
Capri Company Profile
Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.
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