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.
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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