Capri (NYSE:CPRI) Releases FY 2020 Earnings Guidance

Capri (NYSE:CPRI) issued an update on its FY 2020 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.95-4.95 for the period, compared to the Thomson Reuters consensus estimate of $4.93. The company issued revenue guidance of $5.8-5.8 billion, compared to the consensus revenue estimate of $6 billion.Capri also updated its FY20 guidance to $4.95 EPS.

Shares of CPRI stock traded down $1.69 during mid-day trading on Friday, hitting $31.00. The company’s stock had a trading volume of 5,970,891 shares, compared to its average volume of 2,726,889. Capri has a 52-week low of $30.52 and a 52-week high of $75.96. The company has a 50-day moving average of $34.85. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.50 and a current ratio of 1.02. The firm has a market capitalization of $4.91 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 1.01 and a beta of 0.73.

Capri (NYSE:CPRI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.05. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Capri had a return on equity of 30.44% and a net margin of 7.45%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. As a group, equities research analysts predict that Capri will post 4.92 EPS for the current fiscal year.

CPRI has been the subject of a number of research reports. Credit Suisse Group reduced their price objective on Capri from $52.00 to $40.00 and set a neutral rating for the company in a research report on Thursday, May 30th. They noted that the move was a valuation call. Canaccord Genuity reiterated a buy rating and set a $67.00 price objective (down previously from $76.00) on shares of Capri in a research report on Thursday, May 30th. They noted that the move was a valuation call. Argus started coverage on Capri in a report on Wednesday, June 12th. They set a hold rating for the company. Needham & Company LLC reissued a buy rating and set a $50.00 price target (down previously from $54.00) on shares of Capri in a report on Thursday. Finally, Evercore ISI set a $50.00 price target on Capri and gave the company a buy rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $50.50.

In other Capri news, CFO Thomas Jr. Edwards acquired 11,600 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average price of $34.41 per share, with a total value of $399,156.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John D. Idol acquired 615,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was acquired at an average cost of $32.57 per share, with a total value of $20,030,550.00. The disclosure for this purchase can be found here. Insiders own 5.30% of the company’s stock.

About Capri

Capri 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.

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Earnings History and Estimates for Capri (NYSE:CPRI)

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