Gap, Inc. (The) (NYSE:GPS): 17 Analyst have given the stock of Gap, Inc. Gap revenue and marginsalso took a hitamid delayed shipments of seasonal merchandisedue to disruptionsat the West Coast ports.
Gap doesn’t anticipates sales to recover at its flagship brand ahead of holiday season. All these factors led Gap to provide a soft earnings outlook for the second quarter, which in turn triggered a downtrend in the Zacks Consensus Estimate. Jefferies Group reissued a “buy” rating and set a $50.00 price objective on shares of Gap in a report on Thursday, June 18th. Jasper Ridge Partners L.P. is another bull as the investment professional who is possessing 1.86 million shares of Gap or 5.92% of their fund’s portfolio. The disclosure for this sale can be found here. The 1-year stock price history is in the range of $33.55 – $46.85.
Gap (NYSE:GPS) last released its quarterly earnings results on Thursday, August 20th.
Excluding items, profit was $0.64 per share, matching the average estimate of 29 analysts polled by Capital IQ.
The San Francisco-based company reported second quarter net income of $219 million, or 64 cents per share, on revenue of $3.9 billion. This corresponds to an increase of $0.07 compared to the same quarter of the previous fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, October 5th. KeyBanc reaffirmed an “equal weight” rating on shares of Gap in a research note on Friday, May 22nd. They issued a “sector perform” rating and a $45.00 price target for the company.
Piper Jaffray reiterated their Neutral stance on August 11, and decreased their price target from $38 to $33. The shares were sold at an average price of $38.25, for a total value of $286,875.00. Three research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and six have assigned a buy rating to the company’s stock. On a consensus basis this yields to a Hold rating.
The Gap, Inc.is an attire retail company.
Underscoring the woes at Gap, the company gave a disappointing forecast for the second quarter earlier this month, pointing to weakness at its namesake and Banana Republic brands.
On the omni-channel front, Gap Inc said that it continues to integrate physical and digital shopping, with the recent expansion of “reserve in store” service to all Athleta stores.