GAP (NYSE:GPS) Releases Quarterly Earnings Results, Beats Estimates By $0.70 EPS

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

GAP Stock Performance

Shares of GPS stock traded up $0.67 during trading on Thursday, reaching $12.71. 12,983,686 shares of the company’s stock traded hands, compared to its average volume of 9,626,620. The firm’s 50-day moving average is $10.13 and its 200 day moving average is $10.07. GAP has a 1 year low of $7.79 and a 1 year high of $25.42. The company has a market capitalization of $4.62 billion, a P/E ratio of -12.58 and a beta of 1.80. 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 company 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Tuesday, January 3rd. GAP’s dividend payout ratio (DPR) is -59.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GPS shares. The Goldman Sachs Group boosted their price objective on GAP from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. Citigroup raised their target price 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. Cowen lowered their price target on GAP from $12.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, August 31st. Cowen decreased their price target on GAP from $12.00 to $10.00 and set a “market perform” rating for the company in a report on Wednesday, August 31st. Finally, StockNews.com lowered GAP from a “hold” rating to a “sell” rating in a research report on Friday, November 4th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, GAP has a consensus rating of “Hold” and a consensus target price of $10.62.

Insider Activity

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

Institutional Trading of GAP

Several large investors have recently modified their holdings of the business. Captrust Financial Advisors lifted its stake in shares of GAP by 12.2% in the second quarter. Captrust Financial Advisors now owns 8,561 shares of the apparel retailer’s stock worth $71,000 after buying an additional 930 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of GAP by 1.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 114,213 shares of the apparel retailer’s stock valued at $938,000 after buying an additional 2,005 shares in the last quarter. US Bancorp DE lifted its holdings in GAP by 34.9% during the first quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer’s stock valued at $170,000 after purchasing an additional 3,132 shares in the last quarter. Covestor Ltd lifted its holdings in GAP by 208.4% during the first quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock valued at $97,000 after purchasing an additional 4,678 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in GAP by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,122,321 shares of the apparel retailer’s stock valued at $25,633,000 after purchasing an additional 40,348 shares during the period. 57.46% of the stock is owned by institutional investors.

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.

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Earnings History for GAP (NYSE:GPS)

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