The Gap, Inc. (NYSE:GPS – Get Rating) – Investment analysts at Telsey Advisory Group increased their Q3 2024 earnings per share (EPS) estimates for GAP in a research report issued to clients and investors on Friday, March 10th. Telsey Advisory Group analyst D. Telsey now anticipates that the apparel retailer will earn $0.42 per share for the quarter, up from their prior estimate of $0.40. Telsey Advisory Group has a “Market Perform” rating and a $15.00 price objective on the stock. The consensus estimate for GAP’s current full-year earnings is $0.64 per share. Telsey Advisory Group also issued estimates for GAP’s FY2024 earnings at $0.80 EPS and FY2025 earnings at $0.98 EPS.
GAP (NYSE:GPS – Get Rating) last released its earnings results on Thursday, March 9th. The apparel retailer reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.16). The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.37 billion. GAP had a negative net margin of 1.29% and a negative return on equity of 5.93%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) EPS.
GAP Stock Performance
NYSE GPS opened at $10.87 on Monday. GAP has a 1-year low of $7.79 and a 1-year high of $15.53. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.49 and a quick ratio of 0.59. The company has a market cap of $3.95 billion, a PE ratio of -19.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.94. The stock’s 50 day simple moving average is $13.00 and its 200-day simple moving average is $11.82.
GAP Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Wednesday, April 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.52%. GAP’s dividend payout ratio is presently -109.09%.
Insider Activity at GAP
In related news, CEO Mark Breitbard sold 7,311 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $12.34, for a total value of $90,217.74. Following the completion of the transaction, the chief executive officer now owns 98,980 shares of the company’s stock, valued at approximately $1,221,413.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 8,101 shares of company stock worth $100,492 over the last quarter. 44.19% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On GAP
Institutional investors have recently modified their holdings of the stock. Towle & Co raised its holdings in shares of GAP by 9,453.9% during the 3rd quarter. Towle & Co now owns 2,637,840 shares of the apparel retailer’s stock valued at $21,657,000 after purchasing an additional 2,610,230 shares in the last quarter. Marshall Wace LLP bought a new position in shares of GAP during the 4th quarter valued at $20,617,000. BNP Paribas Arbitrage SA raised its holdings in shares of GAP by 214.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,366,694 shares of the apparel retailer’s stock valued at $11,262,000 after purchasing an additional 931,496 shares in the last quarter. American International Group Inc. raised its holdings in shares of GAP by 470.4% during the 1st quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock valued at $5,075,000 after purchasing an additional 297,247 shares in the last quarter. Finally, Dodge & Cox raised its holdings in shares of GAP by 0.6% during the 2nd quarter. Dodge & Cox now owns 38,608,626 shares of the apparel retailer’s stock valued at $318,135,000 after purchasing an additional 247,148 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.
Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.
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