Michael Kors (KORS) Releases Q3 Earnings Guidance

Michael Kors (NYSE:KORS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.52-1.57 for the period, compared to the Thomson Reuters consensus estimate of $1.82. The company issued revenue guidance of ~$1.46 billion, compared to the consensus revenue estimate of $1.48 billion.Michael Kors also updated its FY19 guidance to $4.95-5.05 EPS.

Shares of Michael Kors stock traded up $1.04 during trading on Thursday, reaching $50.09. The company’s stock had a trading volume of 5,148,507 shares, compared to its average volume of 2,458,330. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.63 and a current ratio of 1.37. The firm has a market capitalization of $8.58 billion, a PE ratio of 11.08, a PEG ratio of 1.81 and a beta of 0.39. Michael Kors has a one year low of $47.47 and a one year high of $75.96.

Michael Kors (NYSE:KORS) last posted its quarterly earnings data on Wednesday, November 7th. The lifestyle brand reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.18. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 earnings per share. Research analysts forecast that Michael Kors will post 5.02 earnings per share for the current year.

KORS has been the topic of a number of recent analyst reports. Canaccord Genuity reiterated a buy rating and issued a $84.00 price objective on shares of Michael Kors in a research note on Wednesday, August 8th. Jefferies Financial Group lifted their price objective on Michael Kors from $90.00 to $93.00 and gave the stock a buy rating in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Guggenheim reiterated a hold rating on shares of Michael Kors in a research note on Wednesday, August 8th. Royal Bank of Canada set a $74.00 price objective on Michael Kors and gave the stock a hold rating in a research note on Wednesday, August 8th. Finally, Telsey Advisory Group lifted their price objective on Michael Kors from $67.00 to $75.00 and gave the stock a market perform rating in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $74.37.

In other news, insider Michael David Kors sold 179,920 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $71.35, for a total value of $12,837,292.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John D. Idol sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $73.24, for a total value of $10,986,000.00. The disclosure for this sale can be found here. Insiders have sold 846,436 shares of company stock worth $60,640,959 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

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Michael Kors Company Profile

Michael Kors 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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Earnings History and Estimates for Michael Kors (NYSE:KORS)

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