Q3 2023 Earnings Forecast for The Gap, Inc. Issued By Telsey Advisory Group (NYSE:GPS)

The Gap, Inc. (NYSE:GPSGet Rating) – Telsey Advisory Group lowered their Q3 2023 EPS estimates for shares of GAP in a report issued on Tuesday, November 15th. Telsey Advisory Group analyst D. Telsey now anticipates that the apparel retailer will post earnings per share of ($0.02) for the quarter, down from their previous forecast of $0.13. The consensus estimate for GAP’s current full-year earnings is ($0.28) per share. Telsey Advisory Group also issued estimates for GAP’s Q4 2023 earnings at $0.13 EPS and FY2023 earnings at ($0.26) EPS.

GAP (NYSE:GPSGet Rating) last released its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.70. GAP had a negative net margin of 2.40% and a negative return on equity of 1.48%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year.

GPS has been the topic of several other reports. Citigroup raised their price target on shares of GAP from $7.00 to $8.00 and gave the stock a “sell” rating in a research note on Friday, November 11th. Cowen decreased their target price on shares of GAP from $12.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 31st. Barclays raised shares of GAP from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $6.00 to $9.00 in a research report on Tuesday, August 30th. Cowen decreased their target price on shares of GAP from $12.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 31st. Finally, StockNews.com cut shares of GAP from a “hold” rating to a “sell” rating in a research report on Friday, November 4th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.62.

GAP Price Performance

GAP stock opened at $12.71 on Thursday. GAP has a 12-month low of $7.79 and a 12-month high of $25.42. The stock has a market capitalization of $4.62 billion, a P/E ratio of -12.58 and a beta of 1.80. The firm’s 50-day moving average is $10.13 and its two-hundred day moving average is $10.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.37 and a quick ratio of 0.50.

Institutional Trading of GAP

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its stake in shares of GAP by 26.3% in the third quarter. Captrust Financial Advisors now owns 10,775 shares of the apparel retailer’s stock worth $88,000 after buying an additional 2,241 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in GAP by 1.8% in the third quarter. Public Employees Retirement System of Ohio now owns 114,213 shares of the apparel retailer’s stock worth $938,000 after purchasing an additional 2,005 shares during the period. Bank of New York Mellon Corp boosted its holdings in GAP by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 3,122,321 shares of the apparel retailer’s stock worth $25,633,000 after purchasing an additional 40,348 shares during the period. Towle & Co boosted its holdings in GAP by 9,453.9% in the third quarter. Towle & Co now owns 2,637,840 shares of the apparel retailer’s stock worth $21,657,000 after purchasing an additional 2,610,230 shares during the period. Finally, Citizens Financial Group Inc RI acquired a new position in GAP in the third quarter worth $154,000. Institutional investors own 57.46% of the company’s stock.

Insider Activity

In other news, CEO Mary Beth Laughton sold 11,030 shares of GAP stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $11.28, for a total transaction of $124,418.40. Following the sale, the chief executive officer now owns 31,561 shares in the company, valued at $356,008.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 44.19% of the company’s stock.

GAP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, January 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.72%. GAP’s dividend payout ratio is currently -59.41%.

About GAP

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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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Earnings History and Estimates for GAP (NYSE:GPS)

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