Kohl’s (NYSE:KSS) Issues FY 2024 Earnings Guidance

Kohl’s (NYSE:KSS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.200-1.500 for the period, compared to the consensus EPS estimate of 1.840. The company issued revenue guidance of $15.3 billion-$15.4 billion, compared to the consensus revenue estimate of $16.0 billion.

Kohl’s Stock Up 7.7 %

Shares of Kohl’s stock opened at $18.34 on Tuesday. The business’s 50 day simple moving average is $18.93 and its 200 day simple moving average is $20.83. Kohl’s has a 52-week low of $16.12 and a 52-week high of $29.60. The firm has a market cap of $2.04 billion, a PE ratio of 7.19, a P/E/G ratio of 1.20 and a beta of 1.94. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.16 and a current ratio of 1.08.

Kohl’s (NYSE:KSS) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.13. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.69 billion. Kohl’s had a return on equity of 7.43% and a net margin of 1.66%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 EPS. On average, analysts predict that Kohl’s will post 1.77 earnings per share for the current fiscal year.

Kohl’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 10.91%. The ex-dividend date is Wednesday, December 11th. Kohl’s’s dividend payout ratio (DPR) is 78.43%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KSS shares. Morgan Stanley lowered their price target on Kohl’s from $17.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday. Citigroup reduced their target price on Kohl’s from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. TD Cowen downgraded Kohl’s from a “buy” rating to a “hold” rating and reduced their target price for the stock from $25.00 to $21.00 in a research note on Friday, August 30th. Telsey Advisory Group reiterated a “market perform” rating and set a $23.00 target price on shares of Kohl’s in a research note on Wednesday, August 28th. Finally, Evercore ISI reduced their target price on Kohl’s from $22.00 to $20.00 and set an “in-line” rating for the company in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Kohl’s presently has a consensus rating of “Hold” and an average price target of $20.14.

Insider Activity at Kohl’s

In related news, EVP Feeney Siobhan Mc sold 16,367 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $19.27, for a total value of $315,392.09. Following the completion of the sale, the executive vice president now directly owns 136,799 shares in the company, valued at $2,636,116.73. The trade was a 10.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

About Kohl’s

Kohl’s Corporation operates as an omnichannel retailer in the United States. It offers branded apparel, footwear, accessories, beauty, and home products through its stores and website. The company provides its products primarily under the brand names of Croft & Barrow, Jumping Beans, SO, Sonoma Goods for Life, and Tek Gear, as well as Food Network, LC Lauren Conrad, Nine West, and Simply Vera Vera Wang.