Capri Holdings Limited (NYSE:CPRI) Expected to Announce Earnings of $1.67 Per Share

Brokerages predict that Capri Holdings Limited (NYSE:CPRI) will post $1.67 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Capri’s earnings. The highest EPS estimate is $1.72 and the lowest is $1.64. Capri reported earnings of $1.65 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 1.2%. The business is expected to report its next earnings results before the market opens on Wednesday, February 2nd.

According to Zacks, analysts expect that Capri will report full-year earnings of $5.34 per share for the current financial year, with EPS estimates ranging from $5.30 to $5.50. For the next fiscal year, analysts anticipate that the business will report earnings of $6.06 per share, with EPS estimates ranging from $5.80 to $6.55. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Capri.

Capri (NYSE:CPRI) last announced its quarterly earnings results on Wednesday, November 3rd. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.58. Capri had a net margin of 8.21% and a return on equity of 32.00%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $0.90 EPS. Capri’s revenue for the quarter was up 17.1% compared to the same quarter last year.

A number of brokerages have commented on CPRI. Telsey Advisory Group lifted their price objective on shares of Capri from $62.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, November 4th. The Goldman Sachs Group raised shares of Capri from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $82.00 to $86.00 in a research note on Tuesday, December 14th. Barclays lifted their price target on shares of Capri from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. TheStreet raised shares of Capri from a “c+” rating to a “b-” rating in a research note on Monday, November 22nd. Finally, MKM Partners lifted their price target on shares of Capri from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, November 4th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $74.74.

Shares of NYSE:CPRI opened at $58.07 on Wednesday. Capri has a 52 week low of $40.45 and a 52 week high of $69.26. The stock has a market capitalization of $8.74 billion, a P/E ratio of 21.67, a PEG ratio of 0.36 and a beta of 2.53. The firm has a fifty day simple moving average of $62.95 and a two-hundred day simple moving average of $57.30. The company has a quick ratio of 0.53, a current ratio of 1.10 and a debt-to-equity ratio of 0.42.

Capri announced that its Board of Directors has initiated a share buyback program on Wednesday, November 3rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In other Capri news, CEO John D. Idol sold 202,175 shares of the company’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $65.12, for a total transaction of $13,165,636.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Daniel Purefoy sold 783 shares of the stock in a transaction dated Monday, December 6th. The shares were sold at an average price of $64.39, for a total transaction of $50,417.37. The disclosure for this sale can be found here. Insiders have sold 571,644 shares of company stock valued at $37,501,400 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Capri by 1.8% in the second quarter. Vanguard Group Inc. now owns 14,052,132 shares of the company’s stock valued at $803,641,000 after acquiring an additional 245,342 shares in the last quarter. Senvest Management LLC increased its holdings in shares of Capri by 10.8% in the 3rd quarter. Senvest Management LLC now owns 4,599,491 shares of the company’s stock valued at $222,661,000 after acquiring an additional 450,106 shares during the period. State Street Corp increased its holdings in shares of Capri by 8.0% in the 2nd quarter. State Street Corp now owns 4,167,599 shares of the company’s stock valued at $238,345,000 after acquiring an additional 309,729 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Capri by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,037,602 shares of the company’s stock valued at $116,531,000 after acquiring an additional 10,970 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Capri by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,849,981 shares of the company’s stock valued at $89,559,000 after acquiring an additional 20,395 shares during the period. 85.29% of the stock is owned by institutional investors and hedge funds.

About Capri

Capri Holdings Ltd. operates as a global fashion luxury group. It engages in the design and distribution of sportswear, accessories, footwear and apparel of branded women’s apparel and accessories and men’s apparel. The firm operates through the following segments: Versace, Jimmy Choo, and Michael Kors.

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Earnings History and Estimates for Capri (NYSE:CPRI)

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