GAP (NYSE:GPS) Releases FY 2019 Earnings Guidance

GAP (NYSE:GPS) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.05-2.15 for the period, compared to the Thomson Reuters consensus estimate of $2.06. GAP also updated its FY20 guidance to $2.05-2.15 EPS.

Shares of GPS opened at $17.27 on Friday. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 6.67, a P/E/G ratio of 0.89 and a beta of 0.71. The company has a quick ratio of 0.70, a current ratio of 1.49 and a debt-to-equity ratio of 1.92. GAP has a 12 month low of $15.22 and a 12 month high of $32.69. The company has a 50-day moving average price of $18.11 and a two-hundred day moving average price of $22.16.

GAP (NYSE:GPS) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.02 billion. GAP had a net margin of 6.46% and a return on equity of 26.73%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. Equities research analysts expect that GAP will post 2.04 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.243 per share. This is a boost from GAP’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, October 8th. This represents a $0.97 dividend on an annualized basis and a yield of 5.63%. GAP’s dividend payout ratio (DPR) is currently 37.45%.

GPS has been the subject of several recent analyst reports. Nomura dropped their price objective on shares of GAP from $22.00 to $32.00 and set a neutral rating for the company in a report on Friday, May 31st. Wedbush reaffirmed a neutral rating on shares of GAP in a report on Monday. Credit Suisse Group dropped their price objective on shares of GAP from $23.00 to $20.00 and set a neutral rating for the company in a report on Friday. ValuEngine lowered shares of GAP from a sell rating to a strong sell rating in a report on Monday, May 13th. Finally, MKM Partners dropped their price objective on shares of GAP from $33.00 to $18.00 and set a neutral rating for the company in a report on Tuesday, June 11th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $23.88.

In related news, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $18.00, for a total value of $291,294.00. Following the completion of the sale, the chief executive officer now owns 32,500 shares of the company’s stock, valued at $585,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 37.60% of the company’s stock.

About GAP

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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Earnings History and Estimates for GAP (NYSE:GPS)

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