Capri (NYSE:CPRI) Updates FY 2020 Earnings Guidance

Capri (NYSE:CPRI) issued an update on its FY 2020 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.95-4.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.93. The company issued revenue guidance of $5.8-5.8 billion, compared to the consensus revenue estimate of $6 billion.Capri also updated its FY20 guidance to $4.95 EPS.

Capri stock traded down $1.69 during midday trading on Friday, reaching $31.00. The stock had a trading volume of 5,970,891 shares, compared to its average volume of 2,726,889. Capri has a twelve month low of $30.52 and a twelve month high of $75.96. The stock has a market capitalization of $4.91 billion, a PE ratio of 6.24, a PEG ratio of 1.01 and a beta of 0.73. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.02 and a quick ratio of 0.50. The firm has a 50-day moving average price of $34.85.

Capri (NYSE:CPRI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Capri had a return on equity of 30.44% and a net margin of 7.45%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Analysts predict that Capri will post 4.92 EPS for the current year.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised Capri from a sell rating to a hold rating and set a $35.00 target price on the stock in a research report on Thursday. Credit Suisse Group lowered their target price on Capri from $52.00 to $40.00 and set a neutral rating for the company in a report on Thursday, May 30th. They noted that the move was a valuation call. Nomura reduced their price objective on Capri from $76.00 to $60.00 and set a buy rating for the company in a research report on Wednesday, June 5th. Canaccord Genuity reiterated a buy rating and set a $67.00 price objective (down from $76.00) on shares of Capri in a research report on Thursday, May 30th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Capri from a sell rating to a strong sell rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $50.50.

In other news, CFO Thomas Jr. Edwards purchased 11,600 shares of Capri stock in a transaction dated Tuesday, June 4th. The shares were bought at an average cost of $34.41 per share, with a total value of $399,156.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John D. Idol purchased 615,000 shares of Capri stock in a transaction dated Monday, June 3rd. The shares were purchased at an average cost of $32.57 per share, for a total transaction of $20,030,550.00. The disclosure for this purchase can be found here. Company insiders own 5.30% of the company’s stock.

About Capri

Capri 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 Capri (NYSE:CPRI)

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