The Gap, Inc. (NYSE:GPS – Get Rating) – Equities researchers at B. Riley reduced their Q1 2023 earnings per share (EPS) estimates for GAP in a note issued to investors on Tuesday, May 17th. B. Riley analyst S. Anderson now forecasts that the apparel retailer will post earnings of ($0.11) per share for the quarter, down from their previous estimate of $0.02. B. Riley has a “Neutral” rating and a $13.00 price target on the stock. B. Riley also issued estimates for GAP’s Q2 2023 earnings at $0.44 EPS, Q3 2023 earnings at $0.42 EPS, Q4 2023 earnings at $0.44 EPS, FY2023 earnings at $1.19 EPS and FY2024 earnings at $1.63 EPS.
A number of other equities analysts have also weighed in on the company. Wells Fargo & Company lowered their target price on GAP from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 5th. Telsey Advisory Group cut their price target on shares of GAP from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Friday, April 22nd. Daiwa Capital Markets lowered GAP from a “neutral” rating to an “underperform” rating and set a $13.75 price objective on the stock. in a research note on Wednesday, March 9th. The Goldman Sachs Group cut their target price on shares of GAP from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on GAP from $26.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, April 22nd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.72.
Shares of GPS opened at $11.19 on Friday. The firm has a 50-day moving average of $13.53 and a 200-day moving average of $16.41. The company has a market cap of $4.14 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 0.76 and a beta of 1.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.27 and a quick ratio of 0.53. GAP has a one year low of $11.07 and a one year high of $35.35. GAP (NYSE:GPS – Get Rating) last issued its earnings results on Thursday, March 3rd. The apparel retailer reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. GAP had a return on equity of 19.48% and a net margin of 1.54%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter last year, the business earned $0.28 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in the business. Dodge & Cox lifted its holdings in GAP by 6.0% during the 4th quarter. Dodge & Cox now owns 24,490,528 shares of the apparel retailer’s stock worth $432,258,000 after purchasing an additional 1,381,050 shares in the last quarter. Geode Capital Management LLC lifted its stake in GAP by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 3,858,043 shares of the apparel retailer’s stock worth $67,991,000 after purchasing an additional 104,716 shares during the last quarter. Carmignac Gestion boosted its holdings in shares of GAP by 25.4% in the 3rd quarter. Carmignac Gestion now owns 3,291,252 shares of the apparel retailer’s stock worth $74,718,000 after purchasing an additional 666,301 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of GAP by 15.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,138,643 shares of the apparel retailer’s stock worth $44,192,000 after purchasing an additional 415,813 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of GAP by 6.3% during the 4th quarter. Parametric Portfolio Associates LLC now owns 1,813,988 shares of the apparel retailer’s stock valued at $32,017,000 after purchasing an additional 106,730 shares during the last quarter. 58.23% of the stock is owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.36%. The ex-dividend date is Tuesday, July 5th. GAP’s dividend payout ratio is presently 90.91%.
About GAP (Get Rating)
The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, 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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