Gap Inc Expected to Post FY2019 Earnings of $2.60 Per Share (GPS)

Gap Inc (NYSE:GPS) – Research analysts at B. Riley reduced their FY2019 earnings estimates for GAP in a research note issued to investors on Wednesday, November 7th. B. Riley analyst S. Anderson now forecasts that the apparel retailer will post earnings per share of $2.60 for the year, down from their prior forecast of $2.63. B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for GAP’s Q4 2019 earnings at $0.75 EPS and FY2020 earnings at $2.74 EPS.

GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, August 23rd. The apparel retailer reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. GAP had a net margin of 5.43% and a return on equity of 29.25%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis.

Other equities analysts have also recently issued reports about the stock. Standpoint Research upgraded shares of GAP from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Friday, October 19th. Barclays set a $39.00 price objective on shares of GAP and gave the stock a “buy” rating in a research report on Saturday, August 25th. Zacks Investment Research upgraded shares of GAP from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, July 31st. Guggenheim reiterated a “hold” rating on shares of GAP in a research report on Friday, August 24th. Finally, Goldman Sachs Group started coverage on shares of GAP in a research report on Thursday, October 25th. They set a “neutral” rating and a $28.00 price objective for the company. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.72.

Shares of GAP stock opened at $27.48 on Friday. GAP has a 1-year low of $25.27 and a 1-year high of $35.68. The company has a quick ratio of 1.02, a current ratio of 1.96 and a debt-to-equity ratio of 0.37. The company has a market cap of $10.71 billion, a PE ratio of 11.74, a PEG ratio of 1.20 and a beta of 0.71.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th were given a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 3.53%. The ex-dividend date was Tuesday, October 9th. GAP’s dividend payout ratio (DPR) is currently 45.54%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Trexquant Investment LP acquired a new position in GAP in the 3rd quarter valued at approximately $4,999,000. Rafferty Asset Management LLC acquired a new position in GAP in the 3rd quarter valued at approximately $308,000. Affinity Investment Advisors LLC increased its position in GAP by 23.9% in the 3rd quarter. Affinity Investment Advisors LLC now owns 130,824 shares of the apparel retailer’s stock valued at $3,774,000 after acquiring an additional 25,247 shares during the period. BBT Capital Management LLC acquired a new position in GAP in the 3rd quarter valued at approximately $841,000. Finally, Atlas Capital Advisors LLC increased its position in GAP by 1,556.0% in the 3rd quarter. Atlas Capital Advisors LLC now owns 12,089 shares of the apparel retailer’s stock valued at $331,000 after acquiring an additional 11,359 shares during the period. Hedge funds and other institutional investors own 57.95% of the company’s stock.

About GAP

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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Earnings History and Estimates for GAP (NYSE:GPS)

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