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B. Riley Comments on The Gap, Inc.'s FY2022 Earnings (NYSE:GPS)

Last updated on Monday, November 29, 2021 | 2021 MarketBeat

The Gap, Inc. (NYSE:GPS) - Investment analysts at B. Riley lowered their FY2022 earnings per share (EPS) estimates for shares of GAP in a research report issued to clients and investors on Wednesday, November 24th. B. Riley analyst S. Anderson now anticipates that the apparel retailer will post earnings per share of $1.38 for the year, down from their previous estimate of $2.18. B. Riley currently has a "Neutral" rating and a $21.00 price target on the stock. B. Riley also issued estimates for GAP's Q4 2022 earnings at ($0.07) EPS and FY2023 earnings at $1.93 EPS.

GPS has been the topic of several other reports. The Goldman Sachs Group lowered their target price on shares of GAP from $33.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 24th. Telsey Advisory Group lowered their price objective on shares of GAP from $33.00 to $24.00 and set a "market perform" rating on the stock in a research report on Wednesday, November 24th. Citigroup reduced their target price on shares of GAP from $32.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, October 22nd. TheStreet lowered shares of GAP from a "b-" rating to a "c+" rating in a report on Thursday, August 19th. Finally, MKM Partners cut their price target on shares of GAP from $34.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, November 24th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, GAP currently has an average rating of "Hold" and an average price target of $26.47.

NYSE GPS opened at $17.33 on Monday. GAP has a fifty-two week low of $16.90 and a fifty-two week high of $37.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.36. The firm's fifty day moving average price is $23.29 and its two-hundred day moving average price is $27.66. The stock has a market cap of $6.52 billion, a PE ratio of 13.23, a PEG ratio of 1.12 and a beta of 1.67. GAP (NYSE:GPS) last announced its quarterly earnings data on Tuesday, November 23rd. The apparel retailer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.23). The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.43 billion. GAP had a net margin of 3.05% and a return on equity of 23.80%. The business's revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 26th. Investors of record on Wednesday, January 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, January 4th. This represents a $0.48 dividend on an annualized basis and a yield of 2.77%. GAP's dividend payout ratio (DPR) is currently 36.64%.

In related news, CEO Sonia Syngal sold 6,945 shares of GAP stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $24.71, for a total transaction of $171,610.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 41.39% of the company's stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in shares of GAP by 215.0% in the second quarter. SG Americas Securities LLC now owns 600,198 shares of the apparel retailer's stock worth $20,197,000 after buying an additional 1,121,931 shares in the last quarter. Marshall Wace LLP lifted its position in shares of GAP by 63.3% during the second quarter. Marshall Wace LLP now owns 2,189,402 shares of the apparel retailer's stock valued at $73,673,000 after buying an additional 848,404 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of GAP by 688.3% during the second quarter. Marshall Wace North America L.P. now owns 874,258 shares of the apparel retailer's stock valued at $29,418,000 after buying an additional 763,357 shares during the last quarter. Carmignac Gestion lifted its position in shares of GAP by 25.4% during the third quarter. Carmignac Gestion now owns 3,291,252 shares of the apparel retailer's stock valued at $74,718,000 after buying an additional 666,301 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of GAP by 376.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 735,942 shares of the apparel retailer's stock valued at $24,761,000 after purchasing an additional 581,571 shares during the last quarter. Institutional investors own 54.90% of the company's stock.

GAP Company Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.

Read More: Dividend Achievers

Earnings History and Estimates for GAP (NYSE:GPS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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