GAP (NYSE:GPS) Issues FY20 Earnings Guidance

GAP (NYSE:GPS) updated its FY20 earnings guidance on Thursday. The company provided EPS guidance of $1.70-1.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.07. GAP also updated its Q3 guidance to $0.50-0.52 EPS.

A number of brokerages recently weighed in on GPS. Royal Bank of Canada dropped their price objective on GAP to $16.00 and set a sector perform rating on the stock in a report on Friday. Guggenheim reaffirmed a hold rating on shares of GAP in a report on Thursday, September 12th. Deutsche Bank dropped their price objective on GAP from $17.00 to $15.00 and set a hold rating on the stock in a report on Friday. Wells Fargo & Co reaffirmed a market perform rating and set a $16.00 price objective (down previously from $20.00) on shares of GAP in a report on Friday. Finally, Jefferies Financial Group set a $37.00 price objective on GAP and gave the stock a buy rating in a report on Friday, September 13th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. GAP currently has an average rating of Hold and a consensus target price of $20.08.

GPS stock traded down $1.38 on Friday, reaching $16.68. 26,450,079 shares of the company’s stock were exchanged, compared to its average volume of 6,378,166. The stock has a fifty day moving average of $17.09 and a 200-day moving average of $18.84. GAP has a twelve month low of $15.11 and a twelve month high of $31.39. The firm has a market cap of $6.74 billion, a PE ratio of 6.44, a P/E/G ratio of 0.97 and a beta of 0.71. The company has a quick ratio of 0.72, a current ratio of 1.46 and a debt-to-equity ratio of 1.90.

GAP (NYSE:GPS) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.11. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.02 billion. GAP had a return on equity of 24.53% and a net margin of 5.71%. GAP’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. On average, equities research analysts predict that GAP will post 2.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.243 per share. This represents a $0.97 dividend on an annualized basis and a yield of 5.83%. This is an increase from GAP’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, October 8th. GAP’s payout ratio is presently 37.45%.

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, Intermix, and Hill City 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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