Capri (NYSE:CPRI) Updates FY 2023 Earnings Guidance

Capri (NYSE:CPRIGet Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $6.85-$6.85 for the period, compared to the consensus earnings per share estimate of $6.57. The company issued revenue guidance of $5.95 billion-$5.95 billion, compared to the consensus revenue estimate of $6.08 billion.Capri also updated its FY23 guidance to $6.85 EPS.

Several research analysts recently weighed in on the stock. MKM Partners boosted their price objective on shares of Capri from $85.00 to $93.00 in a research report on Thursday, February 3rd. UBS Group boosted their price objective on shares of Capri from $99.00 to $107.00 in a research report on Thursday, February 3rd. Zacks Investment Research cut shares of Capri from a buy rating to a hold rating and set a $52.00 price objective for the company. in a research report on Tuesday, April 12th. Sanford C. Bernstein initiated coverage on shares of Capri in a research report on Monday, March 14th. They issued a market perform rating and a $55.00 price objective for the company. Finally, Credit Suisse Group lifted their target price on shares of Capri from $70.00 to $74.00 and gave the stock a neutral rating in a report on Thursday, February 3rd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $77.53.

Shares of CPRI stock opened at $48.74 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.62 and a current ratio of 1.18. The firm’s 50-day moving average is $47.61 and its 200-day moving average is $56.65. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.13 and a beta of 2.30. Capri has a 52-week low of $36.90 and a 52-week high of $72.37.

Capri (NYSE:CPRIGet Rating) last issued its earnings results on Wednesday, June 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Capri had a net margin of 10.41% and a return on equity of 34.22%. Capri’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. Sell-side analysts predict that Capri will post 6 EPS for the current fiscal year.

In other Capri news, SVP Daniel Purefoy sold 1,950 shares of the 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 legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Capri by 2.8% during the 1st quarter. State Street Corp now owns 4,421,881 shares of the company’s stock worth $227,240,000 after purchasing an additional 119,122 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Capri by 41.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,649,958 shares of the company’s stock worth $136,182,000 after purchasing an additional 782,577 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Capri by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,198,021 shares of the company’s stock worth $112,981,000 after purchasing an additional 102,439 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Capri by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,293,212 shares of the company’s stock worth $66,459,000 after purchasing an additional 3,245 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Capri by 0.8% during the 4th quarter. Allianz Asset Management GmbH now owns 1,264,111 shares of the company’s stock worth $82,053,000 after purchasing an additional 10,200 shares in the last quarter. 88.46% of the stock is currently owned by hedge funds and other institutional investors.

About Capri (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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