The Gap, Inc. (NYSE:GPS – Get Rating) announced a quarterly dividend on Tuesday, May 10th, RTT News reports. Stockholders of record on Wednesday, July 6th will be paid a dividend of 0.15 per share by the apparel retailer on Wednesday, July 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date is Tuesday, July 5th.
GAP has decreased its dividend payment by an average of 50.2% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. GAP has a dividend payout ratio of 58.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect GAP to earn $1.03 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 58.3%.
Shares of GAP stock opened at $8.49 on Monday. The stock’s 50-day moving average is $10.81 and its 200-day moving average is $14.00. GAP has a one year low of $8.17 and a one year high of $33.96. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.53 and a current ratio of 1.44.
GAP (NYSE:GPS – Get Rating) last released its earnings results on Thursday, May 26th. The apparel retailer reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.31). The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.49 billion. GAP had a negative net margin of 0.45% and a positive return on equity of 7.43%. GAP’s revenue was down 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. Equities research analysts expect that GAP will post 0.41 EPS for the current year.
From 10x Trading Champion Chuck Hughes comes the e-book helping thousands to survive the bear market, “Options trading Made Easy”!
Already full of tools and strategies for success, each copy now comes with a daily Trade of the Day, straight from Chuck to you!
Download your copy now!
Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in shares of GAP by 54.9% in the first quarter. Rhumbline Advisers now owns 535,779 shares of the apparel retailer’s stock valued at $7,544,000 after buying an additional 189,872 shares during the period. American International Group Inc. boosted its stake 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. Weiss Multi Strategy Advisers LLC bought a new stake in shares of GAP in the first quarter valued at approximately $915,000. US Bancorp DE lifted its stake in GAP by 34.9% during the first quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock worth $170,000 after purchasing an additional 3,132 shares during the last quarter. Finally, Covestor Ltd lifted its stake in GAP by 208.4% during the first 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 last quarter. Institutional investors and hedge funds own 58.23% of the company’s stock.
GPS has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on GAP from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. Daiwa Capital Markets downgraded GAP from a “neutral” rating to an “underperform” rating and set a $13.75 target price on the stock. in a research report on Wednesday, March 9th. Cowen lowered their price target on GAP from $16.00 to $12.00 in a research report on Tuesday, May 31st. Guggenheim lowered their price target on GAP to $18.00 in a research report on Friday, May 27th. Finally, The Goldman Sachs Group lowered their price target on GAP from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, April 22nd. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, GAP currently has a consensus rating of “Hold” and a consensus target price of $12.67.
About GAP (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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should you invest $1,000 in GAP right now?
Before you consider GAP, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and GAP wasn’t on the list.
While GAP currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: marketbeat.com
