GAP (NYSE:GPS – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $0.30-$0.60 for the period, compared to the consensus EPS estimate of $1.34. The company issued revenue guidance of -.
Several brokerages have recently commented on GPS. The Goldman Sachs Group cut their price objective on GAP from $20.00 to $14.00 and set a neutral rating for the company in a report on Friday, April 22nd. StockNews.com lowered GAP from a hold rating to a sell rating in a report on Monday, May 30th. Wells Fargo & Company cut their price objective on GAP from $20.00 to $16.00 and set an overweight rating for the company in a report on Friday, May 27th. Deutsche Bank Aktiengesellschaft cut their price objective on GAP from $17.00 to $12.00 in a report on Friday, May 27th. Finally, Credit Suisse Group cut their price objective on GAP from $13.00 to $10.00 and set a neutral rating for the company in a report on Friday, May 27th. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $12.67.
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Shares of GPS stock opened at $8.71 on Thursday. GAP has a 52-week low of $8.56 and a 52-week high of $34.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.53 and a current ratio of 1.44. The firm has a market capitalization of $3.21 billion, a P/E ratio of -41.48, a P/E/G ratio of 1.79 and a beta of 1.67. The stock has a 50 day moving average price of $11.52 and a 200 day moving average price of $14.43.
GAP (NYSE:GPS – Get Rating) last issued its earnings results on Thursday, May 26th. The apparel retailer reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.31). GAP had a negative net margin of 0.45% and a positive return on equity of 7.43%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period last year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. As a group, sell-side analysts forecast that GAP will post 0.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $0.60 annualized dividend and a yield of 6.89%. GAP’s dividend payout ratio (DPR) is -285.71%.
A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE lifted its holdings in shares of GAP by 34.9% in the 1st quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock valued at $170,000 after buying an additional 3,132 shares during the period. Covestor Ltd raised its holdings in GAP by 208.4% in the 1st quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock worth $97,000 after purchasing an additional 4,678 shares during the period. Weiss Multi Strategy Advisers LLC acquired a new position in GAP in the 1st quarter worth about $915,000. Rhumbline Advisers raised its holdings in GAP by 54.9% in the 1st quarter. Rhumbline Advisers now owns 535,779 shares of the apparel retailer’s stock worth $7,544,000 after purchasing an additional 189,872 shares during the period. Finally, American International Group Inc. raised its holdings in GAP by 470.4% in the 1st quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock worth $5,075,000 after purchasing an additional 297,247 shares during the period. Institutional investors and hedge funds own 58.23% of the company’s stock.
GAP Company Profile (Get Rating)
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.
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