Wall Street analysts expect that Michael Kors Holdings Limited (NYSE:KORS) will report $0.61 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Michael Kors Holdings Limited’s earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.58. Michael Kors Holdings Limited reported earnings of $0.88 per share in the same quarter last year, which would indicate a negative year over year growth rate of 30.7%. The firm is scheduled to issue its next earnings results before the market opens on Tuesday, August 8th.
On average, analysts expect that Michael Kors Holdings Limited will report full-year earnings of $3.55 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.75. For the next fiscal year, analysts expect that the business will report earnings of $3.65 per share, with EPS estimates ranging from $3.44 to $4.20. Zacks’ EPS averages are an average based on a survey of analysts that follow Michael Kors Holdings Limited.
Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings data on Wednesday, May 31st. The lifestyle brand reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. The business’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share.
Several equities research analysts have commented on KORS shares. Jefferies Group LLC set a $65.00 price objective on Michael Kors Holdings Limited and gave the stock a “buy” rating in a research note on Monday, April 10th. BMO Capital Markets set a $38.00 price objective on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research note on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $35.00 price objective (down from $44.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, June 1st. Deutsche Bank AG reiterated a “hold” rating and set a $36.00 price objective (down from $40.00) on shares of Michael Kors Holdings Limited in a research note on Saturday, June 3rd. Finally, Zacks Investment Research lowered Michael Kors Holdings Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $39.77.
Shares of Michael Kors Holdings Limited (KORS) traded down 0.77% during trading on Friday, reaching $34.91. The company had a trading volume of 1,094,508 shares. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $53.29. The stock’s 50-day moving average price is $34.87 and its 200-day moving average price is $37.53. The company has a market capitalization of $5.43 billion, a PE ratio of 10.61 and a beta of 0.10.
Michael Kors Holdings Limited announced that its board has authorized a share repurchase program on Wednesday, May 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the lifestyle brand to reacquire up to 18.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
Several hedge funds have recently bought and sold shares of the company. Soros Fund Management LLC bought a new stake in Michael Kors Holdings Limited during the first quarter worth $389,000. Twin Capital Management Inc. raised its stake in Michael Kors Holdings Limited by 0.8% in the first quarter. Twin Capital Management Inc. now owns 42,320 shares of the lifestyle brand’s stock worth $1,613,000 after buying an additional 320 shares in the last quarter. DnB Asset Management AS raised its stake in Michael Kors Holdings Limited by 41.6% in the first quarter. DnB Asset Management AS now owns 14,973 shares of the lifestyle brand’s stock worth $571,000 after buying an additional 4,400 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Michael Kors Holdings Limited by 3.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,670 shares of the lifestyle brand’s stock worth $244,000 after buying an additional 190 shares in the last quarter. Finally, Oxford Asset Management bought a new stake in Michael Kors Holdings Limited during the first quarter worth $2,834,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.
About Michael Kors Holdings Limited
Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.
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