GAP (GPS) to Release Quarterly Earnings on Thursday

GAP (NYSE:GPS) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, August 29th. Analysts expect the company to announce earnings of $0.42 per share for the quarter. GAP has set its FY 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.14 by $0.27. GAP had a return on equity of 27.57% and a net margin of 4.52%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the company earned $0.01 EPS. GAP’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect GAP to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

GAP Stock Performance

GAP has a twelve month low of $9.38 and a twelve month high of $30.75. The stock has a 50 day simple moving average of $23.33 and a 200-day simple moving average of $22.78. The company has a market cap of $9.21 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.40 and a beta of 2.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 0.80.

GAP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 9th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.60 annualized dividend and a yield of ∞. GAP’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GPS shares. TD Cowen upgraded GAP from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $28.00 to $30.00 in a report on Tuesday, June 25th. Robert W. Baird raised their target price on GAP from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. JPMorgan Chase & Co. raised their target price on GAP from $20.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Daiwa America raised GAP to a “moderate buy” rating in a research report on Wednesday, June 5th. Finally, Barclays raised their target price on GAP from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.51.

Insiders Place Their Bets

In other GAP news, Director Tracy Gardner sold 2,934 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $23.48, for a total value of $68,890.32. Following the completion of the transaction, the director now directly owns 51,901 shares in the company, valued at approximately $1,218,635.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other GAP news, CFO Katrina O’connell sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $29.01, for a total value of $580,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tracy Gardner sold 2,934 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $23.48, for a total value of $68,890.32. Following the completion of the transaction, the director now owns 51,901 shares of the company’s stock, valued at $1,218,635.48. The disclosure for this sale can be found here. Insiders sold 23,132 shares of company stock worth $654,003 in the last three months. 30.81% of the stock is owned by company insiders.

GAP Company Profile

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 adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.