Gap, Inc. (GPS) has been downgraded today by the securities research analysts at investment firm Barclays Capital which lowered Gap from a “overweight” rating to “equal weight.” Barclays noted they see risk regarding future earnings estimates and are not positive that there will not be earnings revisions in the future. Barclays also decreased their performance outlook for ‘GPS’ and adjusted their price target from $22 to $17 dollars. GPS gapped down during the open of the normal market session and has yet to rebound at this time.
Gap, Inc. is slated to release their next earnings report on August 18th, 2011 and the current consensus EPS estimate is expected to be 29 cents. Gap last earnings report was released on May 19th, 2011 and announced EPS of 40 cents with revenue totaling $3.295 billion which was down -1.0 % year to year. GPS is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Gap, Inc. (GPS) is a global specialty retailer offering apparel, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, and Athleta brands. The company has market capitalization of $10,377,000,000 and 582,680,000 shares outstanding. GPS has a 52-week high of $23.73 with the low being $16.62 dollars.