Michael Kors (KORS) Announces Earnings Results, Beats Estimates By $0.48 EPS

Wednesday, 07 Feb, 2018

Piper Jaffray Companies' price target points to a potential upside of 10.02% from the stock's current price.

A number of research analysts have issued reports on the stock.

KORS stock was up 3% as of noon Wednesday. TheStreet raised shares of Michael Kors from a "c+" rating to a "b" rating in a report on Monday, November 6th. The stock of Michael Kors Holdings Limited (NYSE:KORS) has "Hold" rating given on Thursday, July 30 by BB&T Capital. Robert W. Baird set a $58.00 price objective on Michael Kors and gave the company a "hold" rating in a research report on Friday, December 22nd. The stock now has an average rating of "Hold" and a consensus target price of $55.14. Goldman Sachs reinitiated Michael Kors Holdings Limited (NYSE:KORS) rating on Tuesday, December 5. The firm is presenting price to cash flow as 56.41 and while calculating price to free cash flow it concluded at 9.93, the low single digit may indicate stock is under worth and vice versa. The stock has a market capitalization of $9,739.87, a price-to-earnings ratio of 18.23, a PEG ratio of 2.14 and a beta of 0.08. Moreover, Lsv Asset Mgmt has 0.03% invested in Michael Kors Holdings Limited (NYSE:KORS) for 325,400 shares. The hedge fund held 506,765 shares of the consumer services company at the end of 2017Q3, valued at $44.73 million, up from 241,118 at the end of the previous reported quarter. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%.

Michael Kors on Wednesday reported earnings and revenue that topped analysts' expectations, as more shoppers purchased high-end handbags and shoes sporting both the Michael Kors and Jimmy Choo labels. State Of Alaska Department Of Revenue holds 0.03% of its portfolio in Michael Kors Holdings Limited (NYSE:KORS) for 14,280 shares. The stock was sold at an average price of $60.01, for a total value of $410,168.35. Following the completion of the sale, the director now owns 18,662 shares in the company, valued at $1,000,283.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

In other news, Director M William Benedetto sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, November 9th. $55.93's average target is -16.51% below currents $66.99 stock price. American Century Companies Inc. now owns 1,342,506 shares of the lifestyle brand's stock worth $84,511,000 after buying an additional 1,278,764 shares during the period. The disclosure for this sale can be found here. Thrivent Financial For Lutherans now owns 6,000 shares of the lifestyle brand's stock valued at $229,000 after buying an additional 330 shares in the last quarter.

Several large investors have recently modified their holdings of the company. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued. The lifestyle brand reported $1.77 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.29 by $0.48, Bloomberg Earnings reports. Dimensional Fund Advisors LP lifted its position in Michael Kors by 29.8% during the third quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand's stock worth $216,000 after purchasing an additional 781 shares in the last quarter.

For the fourth quarter of fiscal 2018, the company expects total revenue to be between $1.11 billion and $1.13 billion, including between $110 million and $115 million of incremental Jimmy Choo revenue. CAPROCK Group Inc. acquired a new position in Michael Kors during the 4th quarter valued at about $219,000.