Wall Street brokerages forecast that Michael Kors Holdings Ltd (NYSE:KORS) will report sales of $1.37 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Michael Kors’ earnings, with estimates ranging from $1.36 billion to $1.38 billion. Michael Kors posted sales of $1.35 billion in the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The business is scheduled to announce its next earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Michael Kors will report full year sales of $1.37 billion for the current fiscal year, with estimates ranging from $4.58 billion to $4.61 billion. For the next year, analysts anticipate that the business will report sales of $4.80 billion per share, with estimates ranging from $4.72 billion to $4.91 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Michael Kors.

Michael Kors (NYSE:KORS) last posted its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, beating the consensus estimate of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. Michael Kors’s revenue for the quarter was up 5.4% on a year-over-year basis.

KORS has been the topic of several research analyst reports. Buckingham Research set a $34.00 price objective on Michael Kors and gave the company a “hold” rating in a research note on Tuesday, August 8th. Piper Jaffray Companies set a $46.00 price objective on Michael Kors and gave the company a “hold” rating in a research note on Tuesday, August 8th. BMO Capital Markets set a $35.00 price objective on Michael Kors and gave the company a “hold” rating in a research note on Tuesday, August 8th. Telsey Advisory Group upped their price objective on Michael Kors from $38.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday, August 9th. Finally, Canaccord Genuity boosted their target price on shares of Michael Kors from $33.00 to $43.00 and gave the company a “hold” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Michael Kors currently has an average rating of “Hold” and an average price target of $51.09.

In related news, CEO John D. Idol sold 500 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total value of $27,560.00. Following the transaction, the chief executive officer now owns 1,688,046 shares of the company’s stock, valued at $93,045,095.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Krista A. Mcdonough sold 7,500 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.93, for a total value of $419,475.00. Following the completion of the transaction, the senior vice president now directly owns 10,647 shares in the company, valued at approximately $595,486.71. The disclosure for this sale can be found here. In the last three months, insiders sold 10,000 shares of company stock worth $554,235. 6.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balasa Dinverno & Foltz LLC increased its stake in Michael Kors by 19.3% in the third quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock valued at $415,000 after acquiring an additional 1,404 shares during the last quarter. Schroder Investment Management Group boosted its position in Michael Kors by 17.4% during the second quarter. Schroder Investment Management Group now owns 2,410,156 shares of the lifestyle brand’s stock valued at $86,042,000 after buying an additional 357,661 shares during the period. Legal & General Group Plc boosted its position in Michael Kors by 5.1% during the second quarter. Legal & General Group Plc now owns 818,344 shares of the lifestyle brand’s stock valued at $29,663,000 after buying an additional 39,949 shares during the period. Systematic Financial Management LP boosted its position in Michael Kors by 9,030.5% during the second quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock valued at $9,102,000 after buying an additional 248,340 shares during the period. Finally, ARGA Investment Management LP boosted its position in Michael Kors by 6.1% during the second quarter. ARGA Investment Management LP now owns 1,410,252 shares of the lifestyle brand’s stock valued at $51,121,000 after buying an additional 81,000 shares during the period. 86.59% of the stock is currently owned by institutional investors and hedge funds.

Michael Kors (NYSE:KORS) traded up $0.04 during trading on Friday, reaching $59.85. The company had a trading volume of 2,430,291 shares, compared to its average volume of 2,507,911. Michael Kors has a fifty-two week low of $32.38 and a fifty-two week high of $60.30. The stock has a market capitalization of $8,940.00, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 1.98 and a beta of 0.12.

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Michael Kors Company Profile

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.

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