Jefferies Financial Group Weighs in on Capri Holdings Limited’s Q1 2023 Earnings (NYSE:CPRI)

Capri Holdings Limited (NYSE:CPRIGet Rating) – Equities researchers at Jefferies Financial Group issued their Q1 2023 EPS estimates for shares of Capri in a report issued on Wednesday, June 15th. Jefferies Financial Group analyst A. Helgans expects that the company will earn $1.34 per share for the quarter. The consensus estimate for Capri’s current full-year earnings is $6.83 per share. Jefferies Financial Group also issued estimates for Capri’s Q2 2023 earnings at $1.52 EPS, Q3 2023 earnings at $2.54 EPS, Q4 2023 earnings at $1.42 EPS, FY2023 earnings at $6.82 EPS, Q1 2024 earnings at $1.46 EPS, Q2 2024 earnings at $1.55 EPS, Q3 2024 earnings at $2.85 EPS, Q4 2024 earnings at $1.65 EPS and FY2024 earnings at $7.50 EPS.

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 analysts’ consensus estimates of $0.82 by $0.20. The firm 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 business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share.

A number of other analysts have also weighed in on the stock. Barclays cut their price objective on shares of Capri from $74.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, June 2nd. Wells Fargo & Company dropped their price target on shares of Capri from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. Robert W. Baird dropped their price target on shares of Capri from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, June 2nd. TheStreet lowered shares of Capri from a “b” rating to a “c+” rating in a research report on Wednesday, June 1st. Finally, Telsey Advisory Group restated a “market perform” rating on shares of Capri in a research report on Thursday, May 26th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $74.89.

NYSE:CPRI opened at $43.67 on Friday. The firm has a market capitalization of $6.24 billion, a P/E ratio of 8.15, a PEG ratio of 0.62 and a beta of 2.30. Capri has a 1-year low of $36.90 and a 1-year high of $72.37. The company’s fifty day moving average price is $46.90 and its 200-day moving average price is $55.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.21 and a quick ratio of 0.51.

Capri announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

In other news, CEO John D. Idol sold 3,803 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $49.63, for a total value of $188,742.89. Following the transaction, the chief executive officer now directly owns 933,268 shares of the company’s stock, valued at $46,318,090.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CPRI. Counterpoint Mutual Funds LLC acquired a new stake in Capri during the fourth quarter worth about $27,000. Sageworth Trust Co of South Dakota acquired a new stake in Capri during the fourth quarter worth about $34,000. National Bank of Canada FI acquired a new stake in Capri during the fourth quarter worth about $43,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Capri during the first quarter worth about $51,000. Finally, UMB Bank N A MO acquired a new stake in shares of Capri during the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 88.46% of the company’s stock.

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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