GAP (NYSE:GPS) Announces Earnings Results

GAP (NYSE:GPSGet Rating) announced its quarterly earnings data on Thursday. The apparel retailer reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.70, RTT News reports. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.83 billion. GAP had a negative net margin of 2.40% and a negative return on equity of 1.48%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share.

GAP Stock Up 5.6 %

NYSE:GPS opened at $12.71 on Friday. GAP has a one year low of $7.79 and a one year high of $25.42. The firm’s fifty day moving average price is $10.13 and its two-hundred day moving average price is $10.07. The company has a current ratio of 1.37, a quick ratio of 0.50 and a debt-to-equity ratio of 0.80.

GAP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, January 3rd. This represents a $0.60 annualized dividend and a dividend yield of 4.72%. GAP’s dividend payout ratio is currently -59.41%.

Insider Buying and Selling at GAP

In related news, CEO Mary Beth Laughton sold 11,030 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $11.28, for a total value of $124,418.40. Following the transaction, the chief executive officer now directly owns 31,561 shares in the company, valued at $356,008.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 44.19% of the company’s stock.

Hedge Funds Weigh In On GAP

A number of institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its position in GAP by 34.9% in the 1st quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock valued at $170,000 after acquiring an additional 3,132 shares during the period. Rhumbline Advisers increased its position in GAP by 54.9% in the 1st quarter. Rhumbline Advisers now owns 535,779 shares of the apparel retailer’s stock valued at $7,544,000 after acquiring an additional 189,872 shares during the period. Covestor Ltd increased its position in GAP by 208.4% in the 1st quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock valued at $97,000 after acquiring an additional 4,678 shares during the period. American International Group Inc. increased its position in GAP by 470.4% in the 1st quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock valued at $5,075,000 after acquiring an additional 297,247 shares during the period. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in GAP in the 1st quarter valued at approximately $915,000. 57.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on GPS shares. StockNews.com lowered shares of GAP from a “hold” rating to a “sell” rating in a research report on Friday, November 4th. The Goldman Sachs Group boosted their price objective on shares of GAP from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, August 26th. Citigroup boosted their price objective on shares of GAP from $7.00 to $8.00 and gave the stock a “sell” rating in a research report on Friday, November 11th. Morgan Stanley boosted their price objective on shares of GAP from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, August 26th. Finally, Barclays upgraded shares of GAP from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $6.00 to $9.00 in a report on Tuesday, August 30th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, GAP has a consensus rating of “Hold” and a consensus target price of $10.62.

GAP Company Profile

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The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.

Further Reading

Earnings History for GAP (NYSE:GPS)

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