$1.09 Earnings Per Share Expected for Michael Kors Holdings Ltd (KORS) This Quarter

Equities analysts expect Michael Kors Holdings Ltd (NYSE:KORS) to post earnings per share (EPS) of $1.09 for the current quarter, Zacks reports. Seven analysts have made estimates for Michael Kors’ earnings. The lowest EPS estimate is $1.06 and the highest is $1.13. Michael Kors posted earnings per share of $1.33 in the same quarter last year, which would indicate a negative year over year growth rate of 18%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, November 7th.

On average, analysts expect that Michael Kors will report full-year earnings of $5.02 per share for the current year, with EPS estimates ranging from $4.89 to $5.20. For the next fiscal year, analysts forecast that the company will report earnings of $5.18 per share, with EPS estimates ranging from $4.54 to $5.90. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Michael Kors.

Michael Kors (NYSE:KORS) last announced its quarterly earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.37. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year.

Several research firms have recently weighed in on KORS. Jefferies Financial Group upped their price objective on Michael Kors from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “buy” rating and set a $84.00 price objective on shares of Michael Kors in a research report on Wednesday, August 8th. HSBC began coverage on Michael Kors in a research report on Monday, July 9th. They set a “buy” rating and a $88.00 price objective for the company. Needham & Company LLC upped their price objective on Michael Kors from $75.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, Nomura upped their price objective on Michael Kors from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $75.52.

In other news, CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $73.24, for a total value of $10,986,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael David Kors sold 179,920 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The shares were sold at an average price of $67.74, for a total value of $12,187,780.80. The disclosure for this sale can be found here. Insiders have sold 846,436 shares of company stock valued at $60,640,959 over the last three months. Insiders own 6.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Michael Kors by 4.4% in the second quarter. BlackRock Inc. now owns 11,127,939 shares of the lifestyle brand’s stock valued at $741,120,000 after buying an additional 465,815 shares during the last quarter. FMR LLC lifted its position in shares of Michael Kors by 0.5% in the second quarter. FMR LLC now owns 4,538,841 shares of the lifestyle brand’s stock valued at $302,286,000 after buying an additional 22,707 shares during the last quarter. Millennium Management LLC lifted its position in shares of Michael Kors by 308.8% in the second quarter. Millennium Management LLC now owns 2,651,631 shares of the lifestyle brand’s stock valued at $176,599,000 after buying an additional 2,003,044 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Michael Kors by 109.9% in the second quarter. Janus Henderson Group PLC now owns 1,763,621 shares of the lifestyle brand’s stock valued at $117,457,000 after buying an additional 923,447 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Michael Kors by 11.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,302,951 shares of the lifestyle brand’s stock valued at $86,777,000 after buying an additional 132,475 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Shares of Michael Kors stock traded down $1.59 during trading hours on Tuesday, hitting $56.64. The company’s stock had a trading volume of 17,326 shares, compared to its average volume of 2,595,410. Michael Kors has a 12 month low of $47.49 and a 12 month high of $75.96. The company has a market capitalization of $8.67 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.83 and a beta of 0.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 0.63.

About Michael Kors

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

Further Reading: Retained Earnings

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