Gap Inc Expected to Post Q3 2020 Earnings of $0.50 Per Share (NYSE:GPS)

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Gap Inc (NYSE:GPS) – Investment analysts at Wedbush reduced their Q3 2020 earnings estimates for shares of GAP in a note issued to investors on Friday, November 8th. Wedbush analyst J. Redding now forecasts that the apparel retailer will earn $0.50 per share for the quarter, down from their prior forecast of $0.59. Wedbush currently has a “Neutral” rating and a $15.00 price target on the stock. Wedbush also issued estimates for GAP’s Q1 2021 earnings at $0.19 EPS, Q3 2021 earnings at $0.61 EPS and Q4 2021 earnings at $0.71 EPS.

Several other research firms have also issued reports on GPS. Jefferies Financial Group set a $37.00 target price on GAP and gave the stock a “buy” rating in a report on Friday, September 13th. Royal Bank of Canada dropped their target price on GAP from $19.00 to $16.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Credit Suisse Group lowered GAP from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $20.00 to $14.00 in a report on Friday, October 18th. Deutsche Bank dropped their target price on GAP from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Finally, MKM Partners set a $18.00 target price on GAP and gave the stock a “hold” rating in a report on Friday, September 13th. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.07.

GPS traded down $0.42 on Monday, hitting $16.74. 5,350,800 shares of the company were exchanged, compared to its average volume of 6,398,452. GAP has a 12 month low of $15.11 and a 12 month high of $31.39. The company has a market cap of $6.45 billion, a PE ratio of 6.46, a PEG ratio of 1.00 and a beta of 0.71. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.72 and a current ratio of 1.46. The stock’s fifty day moving average is $17.04 and its 200-day moving average is $18.66.

GAP (NYSE:GPS) last released its earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.11. GAP had a return on equity of 24.53% and a net margin of 5.71%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. GAP’s revenue was down 2.0% on a year-over-year basis.

Several institutional investors have recently bought and sold shares of GPS. BlackRock Inc. grew its position in shares of GAP by 6.9% in the second quarter. BlackRock Inc. now owns 21,828,899 shares of the apparel retailer’s stock valued at $392,265,000 after purchasing an additional 1,415,944 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of GAP by 691.9% in the second quarter. Nuveen Asset Management LLC now owns 1,061,116 shares of the apparel retailer’s stock valued at $19,068,000 after purchasing an additional 927,119 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of GAP by 43.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,053,569 shares of the apparel retailer’s stock valued at $54,873,000 after purchasing an additional 923,316 shares during the last quarter. Invesco Ltd. grew its position in shares of GAP by 14.0% in the second quarter. Invesco Ltd. now owns 7,517,993 shares of the apparel retailer’s stock valued at $135,098,000 after purchasing an additional 922,167 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of GAP by 180.1% in the third quarter. SG Americas Securities LLC now owns 946,585 shares of the apparel retailer’s stock valued at $16,433,000 after purchasing an additional 608,587 shares during the last quarter. 59.86% of the stock is currently owned by institutional investors.

About GAP

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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Earnings History and Estimates for GAP (NYSE:GPS)

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