GAP (NYSE:GPS) Issues FY 2022 Earnings Guidance

Posted by on Jun 9th, 2022

GAP (NYSE:GPS – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.30-$0.60 for the period, compared to the consensus estimate of $1.34. The company issued revenue guidance of -.

NYSE:GPS opened at $10.61 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.44 and a quick ratio of 0.53. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -50.52, a PEG ratio of 2.14 and a beta of 1.67. The company’s 50-day moving average is $12.42 and its two-hundred day moving average is $15.07. GAP has a 1-year low of $9.24 and a 1-year high of $34.49.

GAP (NYSE:GPS – Get Rating) last announced its earnings results on Thursday, May 26th. The apparel retailer reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.31). GAP had a positive return on equity of 7.43% and a negative net margin of 0.45%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the company earned $0.48 earnings per share. GAP’s quarterly revenue was down 12.9% on a year-over-year basis. As a group, equities analysts anticipate that GAP will post 0.41 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend is Tuesday, July 5th. GAP’s dividend payout ratio is presently -285.71%.

A number of research analysts recently commented on the stock. Credit Suisse Group dropped their target price on shares of GAP from $13.00 to $10.00 and set a neutral rating on the stock in a research report on Friday, May 27th. Telsey Advisory Group decreased their price target on shares of GAP from $15.00 to $13.00 and set a market perform rating for the company in a research note on Friday, May 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of GAP from $17.00 to $12.00 in a research note on Friday, May 27th. Wells Fargo & Company reduced their target price on shares of GAP from $20.00 to $16.00 and set an overweight rating for the company in a research note on Friday, May 27th. Finally, Robert W. Baird reduced their target price on shares of GAP from $14.00 to $11.00 and set a neutral rating for the company in a research note on Friday, May 27th. Eight equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $12.59.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of GAP in the first quarter worth $915,000. American International Group Inc. lifted its stake in shares of GAP by 470.4% in the first quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock worth $5,075,000 after buying an additional 297,247 shares during the last quarter. Covestor Ltd lifted its stake in shares of GAP by 208.4% in the first quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock worth $97,000 after buying an additional 4,678 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of GAP by 54.9% in the first quarter. Rhumbline Advisers now owns 535,779 shares of the apparel retailer’s stock worth $7,544,000 after buying an additional 189,872 shares during the last quarter. Finally, US Bancorp DE increased its position in GAP by 34.9% during the first quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock worth $170,000 after acquiring an additional 3,132 shares during the period. Hedge funds and other institutional investors own 58.23% of the company’s stock.

About GAP (Get Rating)

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.

See Also

Earnings History and Estimates for GAP (NYSE:GPS)

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