Gap Inc (GPS) Expected to Post Quarterly Sales of $3.78 Billion

Equities research analysts expect Gap Inc (NYSE:GPS) to announce $3.78 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for GAP’s earnings, with the highest sales estimate coming in at $3.84 billion and the lowest estimate coming in at $3.71 billion. GAP also reported sales of $3.78 billion during the same quarter last year. The company is scheduled to announce its next earnings results on Thursday, May 23rd.

According to Zacks, analysts expect that GAP will report full year sales of $16.79 billion for the current financial year, with estimates ranging from $16.66 billion to $16.92 billion. For the next fiscal year, analysts anticipate that the business will report sales of $17.02 billion, with estimates ranging from $16.74 billion to $17.26 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for GAP.

GAP (NYSE:GPS) last issued its earnings results on Thursday, February 28th. The apparel retailer reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.72 billion. GAP had a return on equity of 29.65% and a net margin of 6.05%. During the same quarter last year, the business posted $0.61 EPS.

A number of brokerages have weighed in on GPS. ValuEngine downgraded GAP from a “sell” rating to a “strong sell” rating in a report on Thursday, February 7th. Credit Suisse Group reduced their target price on GAP from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, February 26th. Zacks Investment Research downgraded GAP from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Deutsche Bank raised their target price on GAP from $30.00 to $34.00 and gave the company a “hold” rating in a report on Friday, March 1st. Finally, Standpoint Research raised GAP from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.33.

Shares of GPS stock traded down $0.10 during trading hours on Thursday, reaching $26.06. The company’s stock had a trading volume of 3,091,436 shares, compared to its average volume of 5,467,852. The company has a market cap of $9.76 billion, a PE ratio of 10.06, a P/E/G ratio of 1.15 and a beta of 0.53. GAP has a fifty-two week low of $24.25 and a fifty-two week high of $34.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.96.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Tuesday, April 9th. GAP’s payout ratio is 37.45%.

In other news, CEO Sonia Syngal sold 11,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.51, for a total value of $311,863.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Julie Gruber sold 7,500 shares of the stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $24.73, for a total value of $185,475.00. The disclosure for this sale can be found here. 30.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in GPS. Bank of New York Mellon Corp raised its position in GAP by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,602,613 shares of the apparel retailer’s stock worth $363,586,000 after purchasing an additional 701,959 shares during the last quarter. Panagora Asset Management Inc. raised its position in GAP by 71.3% during the 3rd quarter. Panagora Asset Management Inc. now owns 92,808 shares of the apparel retailer’s stock worth $2,678,000 after purchasing an additional 38,633 shares during the last quarter. Standard Life Aberdeen plc raised its position in GAP by 1.7% during the 3rd quarter. Standard Life Aberdeen plc now owns 329,062 shares of the apparel retailer’s stock worth $9,495,000 after purchasing an additional 5,595 shares during the last quarter. Jefferies Group LLC raised its position in GAP by 317.5% during the 3rd quarter. Jefferies Group LLC now owns 39,713 shares of the apparel retailer’s stock worth $1,146,000 after purchasing an additional 30,201 shares during the last quarter. Finally, LPL Financial LLC raised its position in GAP by 60.6% during the 3rd quarter. LPL Financial LLC now owns 21,141 shares of the apparel retailer’s stock worth $610,000 after purchasing an additional 7,977 shares during the last quarter. 58.43% of the stock is owned by institutional investors and hedge funds.

GAP Company Profile

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, and Intermix 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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