GAP (NYSE:GPS) Posts Earnings Results, Misses Estimates By $0.23 EPS

GAP (NYSE:GPS) issued its quarterly earnings data on Tuesday. The apparel retailer reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23), MarketWatch Earnings reports. GAP had a return on equity of 24.45% and a net margin of 4.53%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the business earned $0.25 earnings per share. GAP’s revenue was down 1.3% compared to the same quarter last year. GAP updated its FY 2021 guidance to $1.250-$1.400 EPS and its FY22 guidance to $1.25-1.40 EPS.

Shares of NYSE:GPS traded down $5.67 during midday trading on Thursday, reaching $17.84. 55,080,227 shares of the company traded hands, compared to its average volume of 7,259,341. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.74. GAP has a 12 month low of $17.71 and a 12 month high of $37.63. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.92 and a beta of 1.67. The firm’s fifty day moving average price is $23.43 and its two-hundred day moving average price is $27.88.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 26th. Investors of record on Wednesday, January 5th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, January 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.69%. GAP’s payout ratio is 24.49%.

A number of equities analysts have recently issued reports on the company. Credit Suisse Group lowered their price objective on GAP from $31.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup lowered their price objective on GAP from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 22nd. Telsey Advisory Group lowered their price objective on GAP from $33.00 to $24.00 and set a “market perform” rating for the company in a research report on Wednesday. Wells Fargo & Company lowered their target price on GAP from $40.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on GAP from $43.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, GAP has a consensus rating of “Hold” and an average target price of $26.53.

In related news, CEO Sonia Syngal sold 6,945 shares of the business’s stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $24.71, for a total transaction of $171,610.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 41.39% of the company’s stock.

About GAP

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.

See Also: Outperform Rating

Earnings History for GAP (NYSE:GPS)

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