Capri (NYSE:CPRI) Issues Q2 2023 Earnings Guidance

Capri (NYSE:CPRIGet Rating) updated its second quarter 2023 earnings guidance on Wednesday. The company provided EPS guidance of $1.60-$1.60 for the period. The company issued revenue guidance of $1.43 billion-$1.43 billion.Capri also updated its FY 2023 guidance to $6.85-$6.85 EPS.

A number of research firms have recently commented on CPRI. Barclays increased their price objective on Capri from $72.00 to $74.00 and gave the company an overweight rating in a report on Tuesday, April 19th. Robert W. Baird upped their target price on Capri from $80.00 to $85.00 in a research report on Thursday, February 3rd. Sanford C. Bernstein started coverage on Capri in a research report on Monday, March 14th. They issued a market perform rating and a $55.00 target price for the company. Zacks Investment Research cut Capri from a buy rating to a hold rating and set a $52.00 target price for the company. in a research report on Tuesday, April 12th. Finally, Morgan Stanley increased their price objective on Capri from $75.00 to $80.00 and gave the stock an overweight rating in a research report on Tuesday, February 8th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Capri has a consensus rating of Buy and an average price target of $77.53.

Capri stock opened at $48.74 on Wednesday. The firm has a market capitalization of $7.19 billion, a PE ratio of 13.50, a P/E/G ratio of 0.13 and a beta of 2.30. The company’s 50-day moving average is $47.61 and its 200-day moving average is $56.65. Capri has a fifty-two week low of $36.90 and a fifty-two week high of $72.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.18 and a quick ratio of 0.62.

Capri (NYSE:CPRIGet Rating) last released its quarterly earnings data on Wednesday, June 1st. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.20. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.41 billion. Capri had a net margin of 10.41% and a return on equity of 34.22%. Capri’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. As a group, analysts expect that Capri will post 6 EPS for the current year.

In other Capri news, SVP Daniel Purefoy sold 1,950 shares of the business’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $50.80, for a total value of $99,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.70% of the company’s stock.

Several institutional investors have recently modified their holdings of CPRI. LPL Financial LLC lifted its holdings in shares of Capri by 2.8% during the 3rd quarter. LPL Financial LLC now owns 25,240 shares of the company’s stock worth $1,222,000 after acquiring an additional 688 shares during the period. Lombard Odier Asset Management USA Corp acquired a new position in Capri in the 4th quarter valued at approximately $826,000. Legal & General Group Plc increased its position in Capri by 1.1% in the 4th quarter. Legal & General Group Plc now owns 354,919 shares of the company’s stock valued at $23,038,000 after acquiring an additional 4,017 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Capri in the 4th quarter valued at approximately $417,000. Finally, State of Tennessee Treasury Department increased its position in Capri by 45.8% in the 4th quarter. State of Tennessee Treasury Department now owns 34,956 shares of the company’s stock valued at $2,269,000 after acquiring an additional 10,981 shares during the period. 88.46% of the stock is owned by institutional investors.

Capri Company Profile (Get Rating)

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. The company's Versace segment offers ready-to-wear, accessories, footwear, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques; and department and specialty stores, as well as through Versace e-commerce sites.

See Also

Earnings History and Estimates for Capri (NYSE:CPRI)

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