Zacks: Analysts Expect Michael Kors Holdings Ltd (KORS) to Announce $1.09 EPS

Wall Street analysts expect Michael Kors Holdings Ltd (NYSE:KORS) to report earnings of $1.09 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Michael Kors’ earnings, with the lowest EPS estimate coming in at $1.07 and the highest estimate coming in at $1.13. Michael Kors reported earnings of $1.33 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 18%. The firm is expected to issue its next quarterly earnings report on Monday, November 5th.

According to Zacks, analysts expect that Michael Kors will report full-year earnings of $5.02 per share for the current year, with EPS estimates ranging from $4.95 to $5.20. For the next fiscal year, analysts expect that the firm will report earnings of $5.29 per share, with EPS estimates ranging from $5.00 to $5.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Michael Kors.

Michael Kors (NYSE:KORS) last issued its earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 EPS for the quarter, topping the consensus estimate of $0.95 by $0.37. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. Michael Kors’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the business earned $0.80 earnings per share.

Several brokerages recently commented on KORS. Zacks Investment Research cut Michael Kors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity set a $90.00 target price on Michael Kors and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC reduced their target price on Michael Kors from $79.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday. Guggenheim reaffirmed a “hold” rating on shares of Michael Kors in a research report on Tuesday. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Michael Kors in a research report on Monday. Eighteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $75.14.

In other Michael Kors news, CEO John D. Idol sold 150,000 shares of Michael Kors stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $73.24, for a total transaction of $10,986,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael David Kors sold 179,920 shares of Michael Kors stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $73.62, for a total value of $13,245,710.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 809,840 shares of company stock valued at $58,216,002. Company insiders own 6.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Signet Financial Management LLC bought a new position in shares of Michael Kors in the second quarter valued at about $140,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Michael Kors in the second quarter valued at about $200,000. Conning Inc. bought a new position in shares of Michael Kors in the second quarter valued at about $204,000. Lido Advisors LLC bought a new position in shares of Michael Kors in the first quarter valued at about $212,000. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of Michael Kors in the second quarter valued at about $261,000. 86.57% of the stock is owned by institutional investors and hedge funds.

KORS stock traded up $0.01 during midday trading on Wednesday, hitting $68.02. The stock had a trading volume of 2,324,500 shares, compared to its average volume of 2,353,500. The stock has a market cap of $9.96 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.11. Michael Kors has a 52 week low of $46.70 and a 52 week high of $75.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 0.63.

About Michael Kors

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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