$3.61 Billion in Sales Expected for Gap Inc. (GPS) This Quarter

Equities analysts expect that Gap Inc. (NYSE:GPS) will report sales of $3.61 billion for the current quarter, according to Zacks. Nine analysts have issued estimates for GAP’s earnings, with the highest sales estimate coming in at $3.75 billion and the lowest estimate coming in at $3.45 billion. GAP posted sales of $3.44 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The company is scheduled to report its next earnings results after the market closes on Thursday, May 24th.

On average, analysts expect that GAP will report full-year sales of $16.30 billion for the current financial year, with estimates ranging from $15.93 billion to $16.77 billion. For the next year, analysts anticipate that the firm will report sales of $16.67 billion per share, with estimates ranging from $15.99 billion to $17.37 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover GAP.

GAP (NYSE:GPS) last issued its earnings results on Thursday, March 1st. The apparel retailer reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. GAP had a return on equity of 28.13% and a net margin of 5.35%. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the prior year, the firm posted $0.51 EPS. GAP’s quarterly revenue was up 7.9% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on GAP from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Wolfe Research cut GAP from an “outperform” rating to a “peer perform” rating in a report on Friday, January 26th. TheStreet raised GAP from a “c+” rating to a “b” rating in a report on Thursday, March 1st. Nomura increased their target price on GAP from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, March 5th. Finally, Zacks Investment Research raised GAP from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Monday, March 5th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $33.17.

In other GAP news, major shareholder John J. Fisher sold 500,000 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $34.43, for a total value of $17,215,000.00. Following the transaction, the insider now directly owns 2,319,396 shares in the company, valued at approximately $79,856,804.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeff Kirwan sold 101,820 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $33.73, for a total value of $3,434,388.60. Following the completion of the transaction, the chief executive officer now owns 101,820 shares in the company, valued at $3,434,388.60. The disclosure for this sale can be found here. Insiders sold a total of 1,770,425 shares of company stock worth $57,824,673 over the last quarter. Corporate insiders own 30.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. San Francisco Sentry Investment Group CA boosted its position in GAP by 543.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 3,493 shares of the apparel retailer’s stock valued at $119,000 after buying an additional 2,950 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of GAP in the 4th quarter worth $130,000. Avestar Capital LLC bought a new position in shares of GAP in the 4th quarter worth $116,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of GAP by 263.4% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,444 shares of the apparel retailer’s stock worth $139,000 after purchasing an additional 3,221 shares during the last quarter. Finally, Mariner Wealth Advisors LLC bought a new position in shares of GAP in the 4th quarter worth $203,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Shares of GAP opened at $31.75 on Wednesday, according to MarketBeat. GAP has a 1 year low of $21.02 and a 1 year high of $35.68. The company has a quick ratio of 1.04, a current ratio of 1.86 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $12.28 billion, a PE ratio of 14.91, a P/E/G ratio of 1.51 and a beta of 0.84.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 2nd. Shareholders of record on Wednesday, April 11th were given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.06%. This is a positive change from GAP’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, April 10th. GAP’s dividend payout ratio (DPR) is presently 45.54%.

GAP Company Profile

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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Earnings History and Estimates for GAP (NYSE:GPS)

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