Gap Inc (GPS) to Post Q1 2020 Earnings of $0.30 Per Share, Wedbush Forecasts

Gap Inc (NYSE:GPS) – Investment analysts at Wedbush cut their Q1 2020 earnings per share (EPS) estimates for shares of GAP in a research note issued on Tuesday, April 16th. Wedbush analyst J. Redding now anticipates that the apparel retailer will post earnings of $0.30 per share for the quarter, down from their previous estimate of $0.38. Wedbush also issued estimates for GAP’s Q3 2020 earnings at $0.69 EPS, FY2020 earnings at $2.44 EPS and FY2021 earnings at $2.55 EPS.

GAP (NYSE:GPS) last posted its quarterly earnings data on Thursday, February 28th. The apparel retailer reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.72 billion. GAP had a return on equity of 29.65% and a net margin of 6.05%. During the same quarter in the previous year, the firm earned $0.61 earnings per share.

GPS has been the subject of a number of other research reports. Guggenheim reaffirmed a “hold” rating on shares of GAP in a research report on Friday, March 1st. Standpoint Research upgraded GAP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Credit Suisse Group lowered their price objective on GAP from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 26th. ValuEngine upgraded GAP from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Goldman Sachs Group cut GAP from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $27.00 to $23.00 in a report on Tuesday, January 22nd. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. GAP has an average rating of “Hold” and an average target price of $29.33.

NYSE GPS opened at $26.06 on Wednesday. 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 current ratio of 1.96 and a quick ratio of 0.98. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 1.17 and a beta of 0.53.

Several hedge funds have recently modified their holdings of GPS. Bremer Trust National Association acquired a new stake in GAP during the 4th quarter worth about $29,000. Parallel Advisors LLC grew its position in GAP by 387.7% during the 4th quarter. Parallel Advisors LLC now owns 1,780 shares of the apparel retailer’s stock worth $45,000 after purchasing an additional 1,415 shares during the period. NuWave Investment Management LLC grew its position in GAP by 11,075.0% during the 1st quarter. NuWave Investment Management LLC now owns 2,235 shares of the apparel retailer’s stock worth $58,000 after purchasing an additional 2,215 shares during the period. FTB Advisors Inc. grew its position in GAP by 258.2% during the 4th quarter. FTB Advisors Inc. now owns 2,672 shares of the apparel retailer’s stock worth $68,000 after purchasing an additional 1,926 shares during the period. Finally, Legacy Advisors LLC acquired a new stake in GAP during the 1st quarter worth about $88,000. 58.43% of the stock is currently owned by institutional investors and hedge funds.

In other GAP news, CEO Sonia Syngal sold 11,764 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.51, for a total transaction of $311,863.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 30.60% of the stock is owned by corporate insiders.

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

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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Earnings History and Estimates for GAP (NYSE:GPS)

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