GAP (NYSE:GPS) Releases Earnings Results, Beats Expectations By $0.70 EPS

GAP (NYSE:GPSGet Rating) released its earnings results on Thursday. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.70, RTT News reports. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.83 billion. GAP had a negative return on equity of 1.48% and a negative net margin of 2.40%. GAP’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share.

GAP Stock Up 5.6 %

NYSE:GPS traded up $0.67 during mid-day trading on Thursday, hitting $12.71. 12,983,686 shares of the company’s stock were exchanged, compared to its average volume of 9,626,620. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.37 and a quick ratio of 0.50. The business has a fifty day moving average price of $10.13 and a 200 day moving average price of $10.07. GAP has a one year low of $7.79 and a one year high of $25.42. The company has a market cap of $4.62 billion, a PE ratio of -12.58 and a beta of 1.80.

GAP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Tuesday, January 3rd. GAP’s dividend payout ratio is currently -59.41%.

Insider Buying and Selling at GAP

In other news, CEO Mary Beth Laughton sold 11,030 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $11.28, for a total value of $124,418.40. Following the sale, the chief executive officer now directly owns 31,561 shares in the company, valued at approximately $356,008.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 44.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GAP

Several large investors have recently modified their holdings of GPS. Bank of New York Mellon Corp lifted its stake in shares of GAP by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,122,321 shares of the apparel retailer’s stock valued at $25,633,000 after purchasing an additional 40,348 shares in the last quarter. Rhumbline Advisers boosted its position in GAP by 54.9% during the 1st quarter. Rhumbline Advisers now owns 535,779 shares of the apparel retailer’s stock worth $7,544,000 after acquiring an additional 189,872 shares during the period. American International Group Inc. lifted its holdings in shares of GAP by 470.4% in the first quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock valued at $5,075,000 after buying an additional 297,247 shares during the period. Public Employees Retirement System of Ohio raised its position in GAP by 1.8% during the third quarter. Public Employees Retirement System of Ohio now owns 114,213 shares of the apparel retailer’s stock valued at $938,000 after buying an additional 2,005 shares during the period. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in GAP during the first quarter valued at $915,000. 57.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GPS shares. Barclays raised GAP from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $6.00 to $9.00 in a research report on Tuesday, August 30th. StockNews.com cut GAP from a “hold” rating to a “sell” rating in a report on Friday, November 4th. Citigroup boosted their price objective on GAP from $7.00 to $8.00 and gave the stock a “sell” rating in a report on Friday, November 11th. JPMorgan Chase & Co. boosted their price objective on GAP from $8.00 to $9.00 in a report on Friday, September 16th. Finally, Morgan Stanley boosted their price target on GAP from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Friday, August 26th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.62.

About GAP

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The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.

Further Reading

Earnings History for GAP (NYSE:GPS)

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