Michael Kors Holdings Limited (NYSE:KORS) posted its earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.50, Bloomberg Earnings reports. Michael Kors Holdings Limited had a return on equity of 42.09% and a net margin of 12.68%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.95 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Michael Kors Holdings Limited updated its Q3 guidance to $1.26-1.31 EPS.
Michael Kors Holdings Limited (NYSE:KORS) traded up $0.80 during mid-day trading on Wednesday, reaching $54.89. The company had a trading volume of 1,650,600 shares, compared to its average volume of 2,526,995. Michael Kors Holdings Limited has a 12-month low of $32.38 and a 12-month high of $55.25. The stock has a market cap of $8,225.29, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.82 and a beta of 0.05.
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Several analysts have recently weighed in on KORS shares. ValuEngine downgraded Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Credit Suisse Group restated a “hold” rating and issued a $43.00 price target on shares of Michael Kors Holdings Limited in a research report on Sunday, September 10th. BidaskClub upgraded Michael Kors Holdings Limited from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price target on shares of Michael Kors Holdings Limited in a research report on Thursday, September 14th. Finally, Zacks Investment Research cut Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $49.84.
In other Michael Kors Holdings Limited news, Director M William Benedetto sold 2,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $53.60, for a total transaction of $107,200.00. Following the transaction, the director now owns 18,662 shares of the company’s stock, valued at approximately $1,000,283.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John D. Idol sold 500 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total value of $27,560.00. Following the transaction, the chief executive officer now directly owns 1,688,046 shares in the company, valued at approximately $93,045,095.52. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.
Michael Kors Holdings Limited Company Profile
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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