The San Francisco, California-based company reported a quarterly profit of $219 million, or $0.52 per share, compared to $332 million, or $0.75 per share, in the year-ago period. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price objective on shares of Gap in a research note on Tuesday, May 12th.
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Another research firm was JP Morgan who downgraded their Neutral rating to Underweight on August 10. Gap now has an average rating of “Hold” and a consensus target price of $35.80. Analysts expect $US2.74 per share on average, according to FactSet. They issued a “sector perform” rating and a $45.00 price target for the company. Around 10% of the company’s shares, which are float, are short sold.
In related news, Director Jorge P. Montoya sold 7,500 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $38.37, for a total transaction of $44,394.09.
Gap Inc (NYSE:GPS) stock is now trading 28.15% below its 52-week-high, 0.33% above its 52-week-low. The stock was sold at an average price of $38.25, for a total value of $286,875.00.
Second-quarter sales fell 2% to $3.9 billion.
Gap Inc. on Thursday affirmed its earnings projections for the year, while reporting earnings and sales for the second quarter that matched the downbeat outlook it gave earlier this month. Stockholders of record on Wednesday, October 7th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.70%.
“n”>Aug 20 Apparel retailer Gap Inc reported a fall in quarterly profit for the second consecutive quarter, hurt by a stronger dollar, shipment delays and weak sales at its flagship brand. The ex-dividend date is Monday, October 5th. Along with running in the specialty, outlet, online and franchise stations, Gap Inc.is an apparel retailer in using omni-station capacities for digital world and actual shops.
Gap Inc. has been trying to revamp the struggling Gap brand, following a series of fashion mis-hits and miscalculations. But while some apparel retailers have slowed down their inventory turnover in order to avoid huge markups, Gap is moving in a different direction, which has been successful at Old Navy. Gap comprises GapKids, babyGap, GapMaternity, GapBody and GapFit assortments. It’s Company-operated stores in the USA, Great Britain, Canada, France, Ireland, Japan, Italy, China and Hong Kong.
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The Gap, Inc. has lost 1.72% in the last five trading days and dropped 6.89% in the last 4 weeks.
