Zacks: Analysts Anticipate Capri Holdings Ltd (CPRI) Will Post Quarterly Sales of $1.33 Billion

Wall Street brokerages expect Capri Holdings Ltd (NYSE:CPRI) to announce $1.33 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Capri’s earnings, with estimates ranging from $1.32 billion to $1.37 billion. Capri posted sales of $1.18 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 12.7%. The business is scheduled to report its next earnings results on Wednesday, May 29th.

On average, analysts expect that Capri will report full year sales of $5.23 billion for the current fiscal year, with estimates ranging from $5.22 billion to $5.27 billion. For the next financial year, analysts anticipate that the company will post sales of $6.11 billion, with estimates ranging from $6.08 billion to $6.17 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Capri.

Capri (NYSE:CPRI) last announced its quarterly earnings data on Wednesday, February 6th. The company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.19. Capri had a return on equity of 35.44% and a net margin of 11.19%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Capri’s revenue was down .1% compared to the same quarter last year.

A number of analysts have weighed in on CPRI shares. Needham & Company LLC lowered their target price on Capri from $67.00 to $61.00 and set a “buy” rating for the company in a report on Friday, February 1st. Canaccord Genuity set a $76.00 target price on Capri and gave the stock a “buy” rating in a report on Saturday, February 2nd. Guggenheim restated a “hold” rating on shares of Capri in a report on Wednesday, February 6th. Goldman Sachs Group started coverage on Capri in a report on Friday, January 11th. They set a “neutral” rating and a $45.00 target price for the company. Finally, Wolfe Research restated an “outperform” rating and set a $53.00 target price (down previously from $63.00) on shares of Capri in a report on Friday, February 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Capri currently has a consensus rating of “Hold” and a consensus target price of $57.60.

NYSE:CPRI traded up $0.56 during midday trading on Monday, hitting $49.22. The stock had a trading volume of 3,260,473 shares, compared to its average volume of 2,712,888. Capri has a one year low of $35.68 and a one year high of $75.96. The stock has a market cap of $7.42 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 1.46 and a beta of 0.50. The company has a quick ratio of 1.93, a current ratio of 2.48 and a debt-to-equity ratio of 0.86.

In other news, SVP Cathy Marie Robinson sold 3,648 shares of the stock in a transaction on Friday, February 8th. The stock was sold at an average price of $47.00, for a total transaction of $171,456.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC purchased a new position in Capri in the 4th quarter worth $89,438,000. Portland Hill Asset Management Ltd purchased a new position in Capri in the 1st quarter worth $7,995,000. Martingale Asset Management L P purchased a new position in Capri in the 4th quarter worth $6,406,000. Nisa Investment Advisors LLC purchased a new position in Capri in the 4th quarter worth $3,845,000. Finally, Nuveen Asset Management LLC purchased a new position in Capri in the 4th quarter worth $3,367,000. Hedge funds and other institutional investors own 80.33% of the company’s stock.

Capri Company Profile

Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Earnings History and Estimates for Capri (NYSE:CPRI)

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