Brokers Offer Predictions for Michael Kors Holdings Ltd’s Q4 2018 Earnings (KORS)

Michael Kors Holdings Ltd (NYSE:KORS) – Research analysts at Jefferies Group lifted their Q4 2018 earnings estimates for shares of Michael Kors in a research note issued to investors on Wednesday. Jefferies Group analyst R. Konik now expects that the lifestyle brand will post earnings per share of $0.61 for the quarter, up from their prior forecast of $0.60. Jefferies Group has a “Buy” rating and a $90.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of Michael Kors from a “c+” rating to a “b” rating in a report on Monday, November 6th. Canaccord Genuity reaffirmed a “buy” rating and issued a $67.00 price target (up previously from $58.00) on shares of Michael Kors in a report on Friday, November 3rd. William Blair reaffirmed a “buy” rating on shares of Michael Kors in a report on Friday, October 20th. BidaskClub raised shares of Michael Kors from a “hold” rating to a “buy” rating in a report on Friday, October 20th. Finally, Oppenheimer set a $55.00 price target on shares of Michael Kors and gave the stock a “buy” rating in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.75.

Michael Kors (NYSE:KORS) traded down $5.12 during trading hours on Thursday, hitting $60.99. 4,394,442 shares of the company were exchanged, compared to its average volume of 2,137,911. The company has a market cap of $9,951.25, a PE ratio of 17.03, a PEG ratio of 2.19 and a beta of 0.08. Michael Kors has a 52 week low of $32.38 and a 52 week high of $69.95.

Michael Kors (NYSE:KORS) last posted its earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.48. Michael Kors had a net margin of 12.68% and a return on equity of 42.09%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the firm earned $1.64 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year.

In other Michael Kors news, SVP Krista A. Mcdonough sold 7,500 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the sale, the senior vice president now owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total transaction of $410,168.35. Following the sale, the senior vice president now directly owns 10,081 shares in the company, valued at approximately $604,960.81. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Allied Advisory Services Inc. grew its position in shares of Michael Kors by 5.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after purchasing an additional 337 shares in the last quarter. IFP Advisors Inc grew its position in shares of Michael Kors by 29.5% during the 4th quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock valued at $216,000 after purchasing an additional 781 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Michael Kors by 3.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 31,313 shares of the lifestyle brand’s stock valued at $1,971,000 after purchasing an additional 915 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Michael Kors by 2.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 53,165 shares of the lifestyle brand’s stock valued at $2,555,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC grew its position in shares of Michael Kors by 19.3% during the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock valued at $415,000 after purchasing an additional 1,404 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

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About Michael Kors

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.

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