Capri Holdings Limited to Post Q3 2023 Earnings of $2.19 Per Share, Jefferies Financial Group Forecasts (NYSE:CPRI)

Capri Holdings Limited (NYSE:CPRIGet Rating) – Research analysts at Jefferies Financial Group reduced their Q3 2023 EPS estimates for shares of Capri in a research note issued to investors on Wednesday, November 9th. Jefferies Financial Group analyst A. Helgans now anticipates that the company will post earnings per share of $2.19 for the quarter, down from their prior estimate of $2.40. The consensus estimate for Capri’s current full-year earnings is $6.84 per share. Jefferies Financial Group also issued estimates for Capri’s Q4 2023 earnings at $1.34 EPS, Q2 2024 earnings at $1.77 EPS and Q4 2024 earnings at $1.36 EPS.

Several other equities research analysts have also recently issued reports on the stock. Credit Suisse Group reduced their price objective on shares of Capri from $65.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, July 21st. StockNews.com began coverage on shares of Capri in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Barclays boosted their price objective on shares of Capri from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Citigroup cut their price objective on shares of Capri from $72.00 to $67.00 in a research report on Friday, November 4th. Finally, The Goldman Sachs Group cut their price objective on shares of Capri from $69.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Capri currently has an average rating of “Moderate Buy” and a consensus price target of $69.25.

Capri Stock Performance

CPRI opened at $53.76 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.51 and a debt-to-equity ratio of 0.58. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.65 and a beta of 2.24. The company’s 50 day moving average is $44.40 and its 200 day moving average is $45.81. Capri has a 12-month low of $36.90 and a 12-month high of $72.37.

Capri (NYSE:CPRIGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.25. Capri had a net margin of 14.10% and a return on equity of 37.00%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business posted $1.53 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in Capri by 5.7% during the first quarter. Teacher Retirement System of Texas now owns 31,066 shares of the company’s stock worth $1,596,000 after purchasing an additional 1,676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Capri by 1,502.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 232,337 shares of the company’s stock worth $11,939,000 after purchasing an additional 217,841 shares in the last quarter. Swiss National Bank boosted its position in Capri by 6.4% during the first quarter. Swiss National Bank now owns 355,800 shares of the company’s stock worth $18,285,000 after purchasing an additional 21,300 shares in the last quarter. Strs Ohio boosted its position in Capri by 13.4% during the first quarter. Strs Ohio now owns 19,191 shares of the company’s stock worth $986,000 after purchasing an additional 2,263 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in Capri by 7.5% during the second quarter. New York State Teachers Retirement System now owns 214,946 shares of the company’s stock worth $8,815,000 after purchasing an additional 15,052 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Buying and Selling at Capri

In related news, Director Judy Gibbons sold 4,920 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $48.88, for a total transaction of $240,489.60. Following the completion of the sale, the director now directly owns 24,620 shares of the company’s stock, valued at approximately $1,203,425.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by insiders.

Capri announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 14.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Capri Company Profile

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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. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.

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Earnings History and Estimates for Capri (NYSE:CPRI)

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