Telsey Advisory Group Analysts Decrease Earnings Estimates for Capri Holdings Limited (NYSE:CPRI)

Capri Holdings Limited (NYSE:CPRIGet Rating) – Analysts at Telsey Advisory Group cut their Q1 2023 earnings per share estimates for Capri in a research note issued on Thursday, June 2nd. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings of $1.35 per share for the quarter, down from their prior estimate of $1.45. Telsey Advisory Group has a “Market Perform” rating on the stock. Telsey Advisory Group also issued estimates for Capri’s Q3 2023 earnings at $2.55 EPS and FY2023 earnings at $6.85 EPS.

Several other analysts have also commented on the stock. Morgan Stanley lowered their price objective on shares of Capri from $80.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday. Cowen lowered their price objective on shares of Capri from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday. 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 target on the stock. TheStreet downgraded shares of Capri from a “b” rating to a “c+” rating in a report on Wednesday, June 1st. Finally, Wells Fargo & Company lowered their target price on shares of Capri from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, April 5th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Capri has an average rating of “Buy” and a consensus price target of $74.53.

Shares of CPRI stock opened at $49.70 on Monday. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 0.64 and a beta of 2.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.62 and a current ratio of 1.21. Capri has a 52 week low of $36.90 and a 52 week high of $72.37. The firm’s 50-day simple moving average is $47.35 and its two-hundred day simple moving average is $56.28.

Capri (NYSE:CPRIGet Rating) last announced its quarterly earnings data on Wednesday, June 1st. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.82 by $0.20. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.41 billion. Capri had a net margin of 14.54% and a return on equity of 36.48%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share.

Several institutional investors have recently bought and sold shares of the stock. Senvest Management LLC grew its stake in shares of Capri by 15.7% in the 4th quarter. Senvest Management LLC now owns 5,322,498 shares of the company’s stock worth $345,483,000 after buying an additional 723,007 shares during the last quarter. State Street Corp grew its stake in shares of Capri by 2.8% in the 1st quarter. State Street Corp now owns 4,421,881 shares of the company’s stock worth $227,240,000 after buying an additional 119,122 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Capri by 41.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,649,958 shares of the company’s stock worth $136,182,000 after buying an additional 782,577 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Capri by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,198,021 shares of the company’s stock worth $112,981,000 after buying an additional 102,439 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Capri by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,992,155 shares of the company’s stock worth $102,376,000 after buying an additional 48,642 shares during the last quarter. Institutional investors own 88.46% of the company’s stock.

In other Capri news, SVP Daniel Purefoy sold 1,950 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $50.80, for a total transaction of $99,060.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John D. Idol sold 3,803 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $49.63, for a total value of $188,742.89. Following the transaction, the chief executive officer now owns 933,268 shares in the company, valued at approximately $46,318,090.84. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Capri declared that its board has initiated a stock repurchase plan on Wednesday, June 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.

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Earnings History and Estimates for Capri (NYSE:CPRI)

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