$3.43 Billion in Sales Expected for The Gap, Inc. (NYSE:GPS) This Quarter

Wall Street brokerages predict that The Gap, Inc. (NYSE:GPS – Get Rating) will report sales of $3.43 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for GAP’s earnings. The lowest sales estimate is $3.37 billion and the highest is $3.46 billion. GAP posted sales of $3.99 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 14%. The business is scheduled to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that GAP will report full-year sales of $16.07 billion for the current year, with estimates ranging from $15.79 billion to $16.43 billion. For the next fiscal year, analysts expect that the business will post sales of $16.63 billion, with estimates ranging from $16.12 billion to $17.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow GAP.

GAP (NYSE:GPS – Get Rating) last posted its quarterly 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 business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the company earned $0.28 EPS. The business’s revenue was up 2.3% compared to the same quarter last year.

Several research analysts have recently issued reports on GPS shares. The Goldman Sachs Group reduced their price objective on GAP from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, April 22nd. Barclays lowered GAP from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $17.00 to $13.00 in a report on Friday, April 1st. Zacks Investment Research lowered GAP from a “hold” rating to a “strong sell” rating and set a $11.00 price objective on the stock. in a report on Wednesday, May 4th. BMO Capital Markets lowered their price target on GAP from $16.00 to $13.00 and set a “market perform” rating on the stock in a research note on Friday, April 22nd. Finally, Bank of America lowered GAP from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $26.00 to $14.00 in a research note on Tuesday, February 15th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.78.

A number of large investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in GAP by 34.9% during the 1st quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock worth $170,000 after buying an additional 3,132 shares during the last quarter. Bank of New York Mellon Corp grew its stake in GAP by 15.3% during 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 buying an additional 415,813 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in GAP during the 1st quarter worth approximately $348,000. New York State Common Retirement Fund grew its stake in shares of GAP by 18.4% in the 1st quarter. New York State Common Retirement Fund now owns 324,280 shares of the apparel retailer’s stock valued at $4,566,000 after purchasing an additional 50,463 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of GAP by 48.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 60,540 shares of the apparel retailer’s stock valued at $852,000 after purchasing an additional 19,790 shares during the last quarter. Hedge funds and other institutional investors own 58.23% of the company’s stock.

Shares of NYSE GPS opened at $11.40 on Thursday. GAP has a fifty-two week low of $11.07 and a fifty-two week high of $37.63. The company has a market cap of $4.22 billion, a PE ratio of 17.27, a P/E/G ratio of 0.84 and a beta of 1.66. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.53 and a current ratio of 1.27. The business has a 50-day simple moving average of $13.80 and a two-hundred day simple moving average of $16.86.

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.26%. GAP’s payout ratio is currently 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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