Zacks: Brokerages Anticipate Capri Holdings Ltd (CPRI) Will Announce Quarterly Sales of $1.33 Billion

Equities research analysts forecast that Capri Holdings Ltd (NYSE:CPRI) will report sales of $1.33 billion for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Capri’s earnings, with the highest sales estimate coming in at $1.37 billion and the lowest estimate coming in at $1.32 billion. Capri reported sales of $1.18 billion during the same quarter last year, which would suggest a positive year over year growth rate of 12.7%. The business is scheduled to report its next quarterly earnings results on Wednesday, May 29th.

According to Zacks, analysts expect that Capri will report full year sales of $5.23 billion for the current financial year, with estimates ranging from $5.22 billion to $5.27 billion. For the next year, analysts forecast that the firm will report sales of $6.11 billion, with estimates ranging from $6.08 billion to $6.17 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Capri.

Capri (NYSE:CPRI) last issued its earnings results on Wednesday, February 6th. The company reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.19. Capri had a net margin of 11.19% and a return on equity of 35.44%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm posted $1.77 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year.

A number of brokerages have recently commented on CPRI. Guggenheim reissued a “hold” rating on shares of Capri in a research note on Wednesday, February 6th. Zacks Investment Research lowered shares of Capri from a “hold” rating to a “strong sell” rating in a report on Thursday, February 7th. ValuEngine raised shares of Capri from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Barclays began coverage on shares of Capri in a report on Tuesday, February 26th. They set an “overweight” rating and a $53.00 price target for the company. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $53.00 price target (down from $63.00) on shares of Capri in a report on Friday, February 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Capri currently has an average rating of “Hold” and a consensus target price of $57.60.

In other Capri news, SVP Cathy Marie Robinson sold 3,648 shares of the firm’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $47.00, for a total transaction of $171,456.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in shares of Capri in the 4th quarter valued at about $89,438,000. Portland Hill Asset Management Ltd acquired a new position in shares of Capri in the 1st quarter valued at about $7,995,000. Martingale Asset Management L P acquired a new position in shares of Capri in the 4th quarter valued at about $6,406,000. Nisa Investment Advisors LLC acquired a new position in shares of Capri in the 4th quarter valued at about $3,845,000. Finally, Nuveen Asset Management LLC acquired a new position in shares of Capri in the 4th quarter valued at about $3,367,000. 80.33% of the stock is owned by institutional investors and hedge funds.

Shares of CPRI stock traded up $0.56 during mid-day trading on Monday, reaching $49.22. The company’s stock had a trading volume of 3,260,473 shares, compared to its average volume of 2,712,888. Capri has a 12-month low of $35.68 and a 12-month high of $75.96. The company has a current ratio of 2.48, a quick ratio of 1.93 and a debt-to-equity ratio of 0.86. The company has a market cap of $7.42 billion, a PE ratio of 10.89, a P/E/G ratio of 1.46 and a beta of 0.50.

About Capri

Capri 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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