Analysts Offer Predictions for The Gap, Inc.’s Q1 2023 Earnings (NYSE:GPS)

The Gap, Inc. (NYSE:GPSGet Rating) – Investment analysts at B. Riley decreased their Q1 2023 earnings per share (EPS) estimates for GAP in a research 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 forecast of $0.02. B. Riley currently has a “Neutral” rating and a $13.00 price objective 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.

GPS has been the subject of several other reports. Guggenheim upgraded shares of GAP from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Monday, April 25th. StockNews.com initiated coverage on GAP in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Telsey Advisory Group dropped their price objective on shares of GAP from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 22nd. The Goldman Sachs Group dropped their price objective on GAP from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, April 22nd. Finally, UBS Group cut their price target on shares of GAP from $18.00 to $14.00 and set a “na” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, GAP currently has an average rating of “Hold” and a consensus target price of $16.72.

Shares of NYSE:GPS opened at $11.19 on Friday. GAP has a one year low of $11.07 and a one year high of $35.35. The stock has a market capitalization 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. The company’s 50-day moving average price is $13.53 and its two-hundred day moving average price is $16.41.

GAP (NYSE:GPSGet Rating) last posted 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 business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the prior year, the business earned $0.28 EPS. GAP’s revenue for the quarter was up 2.3% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend is Tuesday, July 5th. GAP’s dividend payout ratio is currently 90.91%.

Several large investors have recently modified their holdings of GPS. Arizona State Retirement System lifted its stake in GAP by 1.2% during the third quarter. Arizona State Retirement System now owns 61,714 shares of the apparel retailer’s stock worth $1,401,000 after purchasing an additional 711 shares during the last quarter. American International Group Inc. lifted its holdings in GAP by 1.3% in the third quarter. American International Group Inc. now owns 64,120 shares of the apparel retailer’s stock worth $1,456,000 after buying an additional 840 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in GAP by 50.9% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,792 shares of the apparel retailer’s stock valued at $49,000 after acquiring an additional 942 shares in the last quarter. First Hawaiian Bank grew its stake in GAP by 1.9% in the first quarter. First Hawaiian Bank now owns 67,088 shares of the apparel retailer’s stock worth $945,000 after purchasing an additional 1,262 shares during the period. Finally, CKW Financial Group grew its position in shares of GAP by 118.2% in the 1st quarter. CKW Financial Group now owns 2,400 shares of the apparel retailer’s stock worth $32,000 after buying an additional 1,300 shares during the period. 58.23% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

Earnings History and Estimates for GAP (NYSE:GPS)

Receive News & Ratings for GAP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GAP and related companies with MarketBeat.com's FREE daily email newsletter.