The Gap, Inc. (NYSE: GPS – get rating) – Telsey Advisory Group equity research analysts lowered their second-quarter 2023 earnings-per-share estimates for GAP in a report released Friday, April 22. Telsey Advisory Group analyst D. Telsey now expects the clothing retailer to earn $0.56 per share in the quarter, down from his previous estimate of $0.64. Telsey Advisory Group has a “Market Performance” rating and a $15.00 price target on the stock. Telsey Advisory Group also issued estimates for GAP’s fourth quarter 2023 earnings at $0.58 EPS and third quarter 2024 earnings at $0.59 EPS.
GAP (NYSE: GPS – get rating) last announced its quarterly earnings results on Thursday, March 3. The clothing retailer reported earnings per share (EPS) ($0.02) for the quarter, beating analyst consensus estimates of ($0.14) by $0.12. The company had revenue of $4.53 billion for the quarter, compared with analyst estimates of $4.49 billion. GAP had a return on capital of 19.48% and a net margin of 1.54%. GAP’s quarterly revenue increased 2.3% year over year. During the same quarter of the previous year, the company made $0.28 of earnings per share.
Several other analysts have also weighed in on the company. Credit Suisse Group lowered its price target on GAP from $16.00 to $13.00 and set a “neutral” rating on the company in a report on Friday. Goldman Sachs Group lowered its price target on GAP from $20.00 to $14.00 and set a “neutral” rating on the company in a report on Friday. StockNews.com GAP coverage began in a report on Thursday, March 31. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut its price target on GAP from $26.00 to $17.00 and set a “buy” rating on the company in a report on Friday. Ultimately, B. Riley lowered its price target on GAP from $15.00 to $13.00 and set a “neutral” rating on the company in a report on Friday. Four analysts have given the stock a sell rating, thirteen have assigned a hold rating and four have given the stock a buy rating. According to MarketBeat, the company currently has an average “Hold” rating and a consensus price target of $18.93.
Actions of NYSEGPS opened at $11.72 on Monday. The firm has a debt-to-equity ratio of 0.55, a quick ratio of 0.53, and a current ratio of 1.27. The company has a market capitalization of $4.33 billion, a P/E ratio of 17.76, a PEG ratio of 0.63, and a beta of 1.70. The stock has a 50-day moving average price of $14.29 and a 200-day moving average price of $17.70. GAP has a 52-week low of $11.07 and a 52-week high of $37.63.
Several institutional investors and hedge funds have recently made changes to their GPS positions. Counterpoint Mutual Funds LLC acquired a new interest in GAP during the fourth quarter for approximately $27,000. Byrne Asset Management LLC increased its holding in GAP stock by 111.5% during the first quarter. Byrne Asset Management LLC now owns 2,474 shares of the clothing retailer worth $35,000 after acquiring an additional 1,304 shares last quarter. Covestor Ltd purchased a new share of GAP shares during the fourth quarter for approximately $40,000. Patriot Financial Group Insurance Agency LLC increased its holding in GAP stock by 270.0% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,850 shares of the clothing retailer worth $42,000 after acquiring an additional 1,350 shares last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new share of GAP stock during the third quarter for approximately $94,000. Currently, 58.29% of the shares are owned by institutional investors.
The company also recently announced a quarterly dividend, to be paid on Wednesday, April 27. Investors registered on Wednesday, April 6 will receive a dividend of $0.15. This represents an annualized dividend of $0.60 and a dividend yield of 5.12%. This is an increase from GAP’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, April 5. GAP’s dividend payout ratio is currently 90.91%.
About GAP (get rating)
The Gap, Inc operates as a clothing retail company. The company offers clothing, accessories and personal care products for men, women and children under the Old Navy, Gap, Banana Republic and Athleta brands. Its products include denim, T-shirts, fleece, and khakis; eyeglasses, jewelry, shoes, bags and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel and everyday activities for women and girls.
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