Telsey Advisory Group Comments on The Gap, Inc.’s FY2024 Earnings (NYSE:GPS)

The Gap, Inc. (NYSE:GPS) – Equities researchers at Telsey Advisory Group upped their FY2024 earnings per share estimates for shares of GAP in a research report issued to clients and investors on Friday, August 25th. Telsey Advisory Group analyst D. Telsey now anticipates that the apparel retailer will post earnings per share of $0.76 for the year, up from their previous estimate of $0.70. Telsey Advisory Group currently has a “Market Perform” rating and a $11.00 target price on the stock. The consensus estimate for GAP’s current full-year earnings is $0.65 per share. Telsey Advisory Group also issued estimates for GAP’s Q4 2024 earnings at $0.26 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $0.90 EPS.

A number of other equities research analysts have also recently commented on GPS. Jefferies Financial Group decreased their price objective on GAP from $11.00 to $9.00 in a research note on Tuesday, May 9th. TheStreet raised GAP from a “d+” rating to a “c-” rating in a research note on Thursday, July 27th. Wells Fargo & Company decreased their target price on GAP from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday. Robert W. Baird decreased their target price on GAP from $12.00 to $10.00 in a research note on Friday, May 26th. Finally, Barclays raised GAP from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $9.00 to $13.00 in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.80.

GAP Stock Up 7.2 %

Shares of GAP stock opened at $10.22 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.47 and a debt-to-equity ratio of 0.84. GAP has a 12 month low of $7.22 and a 12 month high of $15.49. The business has a fifty day simple moving average of $9.64 and a 200 day simple moving average of $9.89. The stock has a market cap of $3.76 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.96.

GAP (NYSE:GPS) last released its earnings results on Thursday, August 24th. The apparel retailer reported $0.34 EPS for the quarter, beating the consensus estimate of $0.09 by $0.25. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.58 billion. GAP had a return on equity of 5.02% and a net margin of 0.71%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS.

Institutional Investors Weigh In On GAP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky lifted its stake in GAP by 10.0% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 38,857 shares of the apparel retailer’s stock worth $347,000 after purchasing an additional 3,520 shares during the last quarter. State of Tennessee Treasury Department bought a new position in shares of GAP in the 2nd quarter valued at $820,000. Marshall Wace LLP bought a new position in shares of GAP in the 2nd quarter valued at $1,758,000. Pinebridge Investments L.P. lifted its stake in shares of GAP by 235.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 24,263 shares of the apparel retailer’s stock valued at $217,000 after acquiring an additional 17,026 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of GAP by 5.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,036,564 shares of the apparel retailer’s stock valued at $27,117,000 after acquiring an additional 145,468 shares during the last quarter. 58.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other GAP news, CEO Horacio Barbeito sold 154,599 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $10.26, for a total transaction of $1,586,185.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 30.81% of the company’s stock.

GAP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Tuesday, October 3rd. GAP’s dividend payout ratio (DPR) is presently 206.90%.

GAP Company Profile

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 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.