Capri Holdings Limited (NYSE:CPRI) Expected to Post Earnings of $1.67 Per Share

Wall Street brokerages forecast that Capri Holdings Limited (NYSE:CPRI) will announce $1.67 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Capri’s earnings, with the highest EPS estimate coming in at $1.72 and the lowest estimate coming in at $1.64. Capri reported earnings of $1.65 per share during the same quarter last year, which suggests a positive year over year growth rate of 1.2%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, February 2nd.

According to Zacks, analysts expect that Capri will report full-year earnings of $5.34 per share for the current fiscal year, with EPS estimates ranging from $5.30 to $5.50. For the next financial year, analysts forecast that the business will post earnings of $6.06 per share, with EPS estimates ranging from $5.80 to $6.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Capri.

Capri (NYSE:CPRI) last issued its earnings results on Wednesday, November 3rd. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $0.95 by $0.58. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. Capri had a net margin of 8.21% and a return on equity of 32.00%. The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS.

CPRI has been the topic of several recent research reports. TheStreet upgraded shares of Capri from a “c+” rating to a “b-” rating in a research report on Monday, November 22nd. BTIG Research decreased their price objective on shares of Capri from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Monday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Capri from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, December 9th. Zacks Investment Research raised shares of Capri from a “hold” rating to a “strong-buy” rating and set a $75.00 target price for the company in a research note on Monday, November 8th. Finally, Credit Suisse Group upped their price objective on shares of Capri from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, November 4th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $74.74.

In related news, CEO John D. Idol sold 202,175 shares of the firm’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $65.12, for a total transaction of $13,165,636.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John D. Idol sold 368,686 shares of the stock in a transaction on Friday, November 5th. The stock was sold at an average price of $65.87, for a total value of $24,285,346.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 571,644 shares of company stock valued at $37,501,400. Company insiders own 2.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CPRI. Marshall Wace LLP acquired a new stake in Capri in the first quarter worth $69,000. First Trust Advisors LP acquired a new position in shares of Capri during the first quarter valued at $4,158,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Capri during the first quarter valued at $13,435,000. Victory Capital Management Inc. boosted its stake in Capri by 59.1% during the second quarter. Victory Capital Management Inc. now owns 9,876 shares of the company’s stock valued at $565,000 after buying an additional 3,669 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Capri by 69.2% during the second quarter. Envestnet Asset Management Inc. now owns 45,919 shares of the company’s stock valued at $2,626,000 after buying an additional 18,775 shares in the last quarter. 85.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CPRI opened at $58.07 on Wednesday. Capri has a one year low of $40.45 and a one year high of $69.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.53 and a current ratio of 1.10. The company’s fifty day moving average is $62.95 and its two-hundred day moving average is $57.30. The firm has a market capitalization of $8.74 billion, a P/E ratio of 21.67, a PEG ratio of 0.36 and a beta of 2.53.

Capri declared that its board has approved a stock buyback plan on Wednesday, November 3rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 9.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Capri Company Profile

Capri Holdings Ltd. operates as a global fashion luxury group. It engages in the design and distribution of sportswear, accessories, footwear and apparel of branded women’s apparel and accessories and men’s apparel. The firm operates through the following segments: Versace, Jimmy Choo, and Michael Kors.

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Earnings History and Estimates for Capri (NYSE:CPRI)

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