Log in

Gap Inc (NYSE:GPS) Expected to Announce Quarterly Sales of $3.70 Billion

Last updated on Wednesday, September 16, 2020 | 2020 MarketBeat

Brokerages forecast that Gap Inc (NYSE:GPS) will report $3.70 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for GAP's earnings, with the lowest sales estimate coming in at $3.51 billion and the highest estimate coming in at $4.02 billion. GAP posted sales of $4.00 billion in the same quarter last year, which indicates a negative year over year growth rate of 7.5%. The company is expected to announce its next quarterly earnings results on Thursday, November 19th.

On average, analysts expect that GAP will report full-year sales of $13.56 billion for the current fiscal year, with estimates ranging from $13.32 billion to $14.13 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $15.26 billion, with estimates ranging from $14.21 billion to $16.08 billion. Zacks' sales averages are a mean average based on a survey of sell-side research analysts that cover GAP.

GAP (NYSE:GPS) last posted its earnings results on Thursday, August 27th. The apparel retailer reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.41) by $0.24. The company had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $2.92 billion. GAP had a negative return on equity of 18.48% and a negative net margin of 7.39%. GAP's quarterly revenue was down 18.2% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share.

Several equities research analysts have recently weighed in on GPS shares. Bank of America raised shares of GAP from an "underperform" rating to a "neutral" rating and set a $18.00 price target for the company in a research report on Friday, August 28th. BofA Securities upgraded shares of GAP from an "underperform" rating to a "neutral" rating and set a $18.00 price objective on the stock in a research note on Friday, August 28th. Telsey Advisory Group lifted their target price on shares of GAP from $10.00 to $17.00 and gave the company a "market perform" rating in a research report on Friday, August 28th. Deutsche Bank raised their price target on shares of GAP from $13.00 to $15.00 and gave the stock a "hold" rating in a research note on Monday, June 29th. Finally, Wedbush reaffirmed a "neutral" rating on shares of GAP in a research note on Monday, August 24th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company's stock. The stock presently has an average rating of "Hold" and a consensus price target of $16.21.

In other GAP news, insider Julie Gruber sold 29,109 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $14.98, for a total value of $436,052.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sonia Syngal sold 36,830 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $17.58, for a total transaction of $647,471.40. Following the completion of the sale, the chief executive officer now directly owns 57,085 shares of the company's stock, valued at approximately $1,003,554.30. The disclosure for this sale can be found here. Corporate insiders own 45.30% of the company's stock.

A number of large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its holdings in shares of GAP by 45,000.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,706 shares of the apparel retailer's stock valued at $34,000 after buying an additional 2,700 shares during the last quarter. TRUE Private Wealth Advisors lifted its holdings in GAP by 190.7% in the 2nd quarter. TRUE Private Wealth Advisors now owns 3,049 shares of the apparel retailer's stock worth $38,000 after purchasing an additional 2,000 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in GAP by 2,848.0% in the 2nd quarter. Lindbrook Capital LLC now owns 3,007 shares of the apparel retailer's stock worth $38,000 after purchasing an additional 2,905 shares during the last quarter. Citizens Financial Group Inc RI increased its position in shares of GAP by 295.0% during the second quarter. Citizens Financial Group Inc RI now owns 3,646 shares of the apparel retailer's stock valued at $46,000 after purchasing an additional 2,723 shares during the period. Finally, Rampart Investment Management Company LLC increased its position in shares of GAP by 117.6% during the second quarter. Rampart Investment Management Company LLC now owns 4,679 shares of the apparel retailer's stock valued at $59,000 after purchasing an additional 2,529 shares during the period. 57.25% of the stock is owned by institutional investors.

Shares of NYSE:GPS opened at $16.87 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 0.85 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of -6.02 and a beta of 1.64. The firm's 50-day moving average is $15.54 and its 200 day moving average is $11.35. GAP has a 12 month low of $5.26 and a 12 month high of $19.24.

GAP Company Profile

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

Recommended Story: Cost of Capital Explained

Get a free copy of the Zacks research report on GAP (GPS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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]

12 Stocks Corporate Insiders are Abandoning

An insider trade occurs when a corporate executive (such as a CEO, CFO or COO) that has non-public information about a company buys or sells shares of that company's stock. Company insiders are required by law to regularly report their stock purchases and sales to the SEC.

Tracking a company's insider trades is a metric that can be used to identify the direction that the company's executives believes that the company is headed. If a number of insiders sell shares of their company, they may believe that the company will have weak future earnings and that the share price will decline in the near future.

For example, if Microsoft's CEO, CFO and COO all recently sold shares of Microsoft stock, that would be an indication that there could be unreported news that may negatively effect Microsoft's stock price in the near future.

This slideshow lists the 12 companies that have had the highest levels of insider buying within the last 180 days.

View the "12 Stocks Corporate Insiders are Abandoning".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.