Jefferies Financial Group Analysts Reduce Earnings Estimates for Gap Inc (GPS)

Gap Inc (NYSE:GPS) – Investment analysts at Jefferies Financial Group dropped their FY2019 earnings per share estimates for GAP in a report released on Wednesday, November 21st. Jefferies Financial Group analyst R. Konik now expects that the apparel retailer will post earnings of $2.60 per share for the year, down from their previous forecast of $2.70. Jefferies Financial Group also issued estimates for GAP’s FY2020 earnings at $3.00 EPS.

Several other analysts have also commented on GPS. JPMorgan Chase & Co. dropped their price objective on GAP from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, August 24th. Barclays reissued a “buy” rating and issued a $33.00 price objective on shares of GAP in a report on Thursday. B. Riley dropped their price objective on GAP from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday. Credit Suisse Group dropped their price objective on GAP from $33.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, ValuEngine lowered GAP from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have issued a buy rating to the company’s stock. GAP has an average rating of “Hold” and a consensus target price of $31.39.

Shares of GPS opened at $25.81 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. GAP has a 12 month low of $24.25 and a 12 month high of $35.68. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 1.06 and a beta of 0.71.

GAP (NYSE:GPS) last issued its quarterly earnings data on Tuesday, November 20th. The apparel retailer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. GAP had a return on equity of 29.93% and a net margin of 5.57%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the company earned $0.58 earnings per share. GAP’s quarterly revenue was up 6.5% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Wednesday, January 9th will be paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Tuesday, January 8th. GAP’s dividend payout ratio is presently 45.54%.

Several large investors have recently modified their holdings of GPS. AQR Capital Management LLC boosted its stake in shares of GAP by 456.0% in the third quarter. AQR Capital Management LLC now owns 9,883,253 shares of the apparel retailer’s stock worth $285,132,000 after acquiring an additional 8,105,713 shares during the last quarter. Point72 Asset Management L.P. lifted its position in GAP by 626.8% during the second quarter. Point72 Asset Management L.P. now owns 2,743,079 shares of the apparel retailer’s stock worth $88,848,000 after buying an additional 2,365,680 shares in the last quarter. Marshall Wace LLP purchased a new position in GAP during the second quarter worth approximately $42,264,000. Wells Fargo & Company MN lifted its position in GAP by 41.9% during the second quarter. Wells Fargo & Company MN now owns 4,137,469 shares of the apparel retailer’s stock worth $134,013,000 after buying an additional 1,221,383 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in GAP by 5.9% during the third quarter. Bank of New York Mellon Corp now owns 12,602,613 shares of the apparel retailer’s stock worth $363,586,000 after buying an additional 701,959 shares in the last quarter. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

GAP Company Profile

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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