Gap Inc. (NYSE:GPS) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.70-0.71 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.66, Analyst Ratings Network reports. The company issued revenue guidance of $3.98 billion, compared to the consensus revenue estimate of $3.96 billion.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs Group Inc. downgraded shares of Gap from a buy rating to a neutral rating in a research note to investors on Monday. They now have a $40.00 price target on the stock, down previously from $42.00. On a related note, analysts at Jefferies Group cut their price target on shares of Gap from $56.00 to $50.00 in a research note to investors on Thursday, October 31st. They now have a buy rating on the stock. Finally, analysts at Susquehanna cut their price target on shares of Gap from $46.00 to $40.00 in a research note to investors on Monday, October 28th. They now have a neutral rating on the stock. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Gap has an average rating of Hold and an average target price of $43.50.
Gap Inc. (NYSE:GPS) traded down 0.71% on Thursday, hitting $37.75. The stock had a trading volume of 7,030,906 shares. Gap Inc. has a one year low of $29.84 and a one year high of $46.56. The stock has a 50-day moving average of $38.75 and a 200-day moving average of $41.08. The company has a market cap of $17.648 billion and a price-to-earnings ratio of 14.01. Gap also was the target of some unusual options trading activity on Tuesday. Investors purchased 24,328 put options on the stock. This represents an increase of 351% compared to the typical volume of 5,397 put options.
Gap (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts expect that Gap Inc. will post $2.70 EPS for the current fiscal year.
The Gap, Inc (NYSE:GPS) is a global specialty apparel company.
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