Now what: Despite the share-price gains today, Michael Kors still has a long way to go before it can declare victory over its downturn. The firm earned $986 million during the quarter, compared to the consensus estimate of $946.76 million. Analysts at JPMorgan and Piper Jaffray released cautious notes for high-end bag-makers including Michael Kors and Coach Inc (NYSE:COH).
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Michael Kors Holdings Ltd (NYSE:KORS) traded down -7.81% on 8 April, hitting $38.71. Revenues from the same point last year arrived at $1.13 billion.
Koninklijke Philips N.V (NYSE:PHG) was upgraded by Zacks from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.
Michael Kors Holdings Limited has a broker recommendation of 2.61. Earnings per share were $0.87.
Michael Kors Holdings Ltd using SYMBOL code NYSE:KORS has had its stock rating noted as “Reitereated” with the recommendation being set at “HOLD” this morning by analysts at Canaccord Genuity. Michael Kors Holdings has a 52-week low of $38.16 and a 52-week high of $83.38.! Brown maintained a “Neutral” rating for Michael Kors Holdings Ltd (NYSE:KORS) with a price target of $45 while adding that its fiscal year 2016 earnings guidance should be lowered considering the market sentiment. In the current trading session the stock reached as high as 40.18 and dipped down to 39.04.
The sell-side analysts who offer price objective projections have a one year target of $53.466. The life-style manufacturer reported $0.90 earnings-per share (EPS) for the quarter, missing the consensus estimate of $0.91 by $0.01.
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Michael Kors Holdings (NASDAQ:KORS) last posted its earnings results on Wednesday, May 27th. They now have $44.92 price objective on the stock. The stock presently has an average rating of Hold and an average price target of $57.65. Company reported revenue of $985.98M. The Company is an American sportswear house to a global accessories, footwear and apparel company with a presence in over 85 countries. It’s global supply network of company-operated retail stores, department stores, specialty stores and select licensing partners. It offers both collections through its retail and wholesale segments. The company has also reduced its debt from $232 million down to $171 million over the last 12 months. As of March 30, 2013, its wholesale segment included wholesale sales through approximately 2,215 department store and specialty store doors in North America and wholesale sales through approximately 1,034 department store and specialty store doors internationally.
