Brokerages Anticipate Michael Kors Holdings Ltd (KORS) Will Post Earnings of $1.09 Per Share

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Wall Street analysts predict that Michael Kors Holdings Ltd (NYSE:KORS) will announce earnings per share of $1.09 for the current quarter, Zacks reports. Seven analysts have provided estimates for Michael Kors’ earnings, with the highest EPS estimate coming in at $1.13 and the lowest estimate coming in at $1.06. Michael Kors posted earnings of $1.33 per share during the same quarter last year, which would indicate a negative year over year growth rate of 18%. The company is expected to announce its next earnings results on Monday, November 5th.

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

Michael Kors (NYSE:KORS) last released its quarterly earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.37. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue was up 26.3% on a year-over-year basis.

A number of research firms have commented on KORS. Piper Jaffray Companies set a $71.00 price target on Michael Kors and gave the company a “hold” rating in a research report on Friday, August 17th. Zacks Investment Research lowered Michael Kors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 26th. ValuEngine downgraded Michael Kors from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Telsey Advisory Group boosted their price objective on Michael Kors from $67.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, August 9th. Finally, Needham & Company LLC dropped their price objective on Michael Kors from $79.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, September 26th. Eighteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Michael Kors presently has an average rating of “Hold” and an average target price of $75.93.

Shares of NYSE KORS traded up $1.65 during trading on Friday, reaching $63.61. The company had a trading volume of 1,978,582 shares, compared to its average volume of 2,345,681. Michael Kors has a 12 month low of $47.21 and a 12 month high of $75.96. The firm has a market capitalization of $10.24 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.16 and a beta of 0.12. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.27.

In related news, insider Michael David Kors sold 179,920 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $73.62, for a total transaction of $13,245,710.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John D. Idol sold 6,676 shares of the company’s stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $65.26, for a total value of $435,675.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 996,436 shares of company stock worth $70,839,459. 6.00% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of KORS. Nelson Roberts Investment Advisors LLC increased its holdings in Michael Kors by 2.0% during the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 77,121 shares of the lifestyle brand’s stock worth $5,287,000 after purchasing an additional 1,500 shares in the last quarter. Cerebellum GP LLC bought a new stake in Michael Kors during the 3rd quarter worth approximately $169,000. Atria Investments LLC increased its holdings in Michael Kors by 86.5% during the 3rd quarter. Atria Investments LLC now owns 8,907 shares of the lifestyle brand’s stock worth $611,000 after purchasing an additional 4,130 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Michael Kors during the 3rd quarter worth approximately $358,000. Finally, Fulton Bank N.A. increased its holdings in Michael Kors by 7.9% during the 3rd quarter. Fulton Bank N.A. now owns 12,588 shares of the lifestyle brand’s stock worth $863,000 after purchasing an additional 918 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Michael Kors Company Profile

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.

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Earnings History and Estimates for Michael Kors (NYSE:KORS)

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