Capri Holdings Ltd (NYSE:CPRI) Expected to Post Quarterly Sales of $1.45 Billion

Brokerages expect that Capri Holdings Ltd (NYSE:CPRI) will report $1.45 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Capri’s earnings, with the highest sales estimate coming in at $1.45 billion and the lowest estimate coming in at $1.44 billion. Capri reported sales of $1.25 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 16%. The business is scheduled to announce its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Capri will report full year sales of $5.83 billion for the current fiscal year, with estimates ranging from $5.81 billion to $5.84 billion. For the next financial year, analysts expect that the firm will report sales of $6.07 billion, with estimates ranging from $5.98 billion to $6.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Capri.

Capri (NYSE:CPRI) last posted its earnings results on Wednesday, August 7th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. Capri had a return on equity of 30.29% and a net margin of 7.45%. Capri’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 earnings per share.

A number of analysts have commented on the company. MKM Partners decreased their target price on Capri to $35.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Evercore ISI set a $50.00 target price on Capri and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price (down from $54.00) on shares of Capri in a research report on Thursday, August 8th. Jefferies Financial Group boosted their target price on Capri from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Capri from a “hold” rating to a “sell” rating and set a $33.00 target price on the stock. in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.23.

In related news, CEO John D. Idol acquired 363,000 shares of Capri stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $27.48 per share, for a total transaction of $9,975,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Destination Wealth Management purchased a new position in Capri during the second quarter worth about $31,000. Coastal Investment Advisors Inc. purchased a new position in Capri during the second quarter worth about $31,000. Pearl River Capital LLC purchased a new position in Capri during the second quarter worth about $32,000. Advisory Services Network LLC purchased a new position in Capri during the first quarter worth about $54,000. Finally, Marshall Wace LLP purchased a new position in Capri during the first quarter worth about $69,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

CPRI traded up $0.31 during trading on Tuesday, reaching $31.28. 88,772 shares of the stock were exchanged, compared to its average volume of 2,565,970. The business’s 50 day moving average price is $30.02 and its two-hundred day moving average price is $35.79. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.03 and a quick ratio of 0.42. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 6.29, a P/E/G ratio of 1.08 and a beta of 0.83. Capri has a 1 year low of $25.25 and a 1 year high of $62.65.

Capri Company Profile

Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Earnings History and Estimates for Capri (NYSE:CPRI)

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