Equities researchers at Sterne Agee assumed coverage on shares of Michael Kors Holdings Ltd (NASDAQ: KORS) in a report issued on Monday. The firm set a “neutral” rating and a $62.00 price target on the stock.
Michael Kors Holdings Ltd traded down 0.39% on Monday, hitting $59.00. Michael Kors Holdings Ltd has a 52-week low of $35.50 and a 52-week high of $65.10. The stock’s 50-day moving average is currently $57.55. The company has a market cap of $11.776 billion and a price-to-earnings ratio of 34.72.
Michael Kors Holdings Ltd last issued its quarterly earnings data on Tuesday, February 12th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.23. The company had revenue of $636.80 million for the quarter, compared to the consensus estimate of $540.30 million. During the same quarter last year, the company posted $0.28 earnings per share. Michael Kors Holdings Ltd’s revenue was up 70.4% compared to the same quarter last year. Michael Kors Holdings Ltd has set its Q4 guidance at $0.32-0.34 EPS and its FY13 guidance at $1.80-1.82 EPS. Analysts expect that Michael Kors Holdings Ltd will post $1.86 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on KORS. Analysts at TheStreet reiterated a “hold” rating on shares of Michael Kors Holdings Ltd in a research note to investors on Wednesday, February 27th. Separately, analysts at Cowen initiated coverage on shares of Michael Kors Holdings Ltd in a research note to investors on Tuesday, February 26th. They set an “outperform” rating on the stock. Finally, analysts at Citigroup upgraded shares of Michael Kors Holdings Ltd to a “top pick” rating in a research note to investors on Wednesday, February 20th.
Twelve investment analysts have rated the stock with a buy rating, one has assigned an overweight rating, and one has assigned a hold rating to the stock. Michael Kors Holdings Ltd presently has a consensus rating of “buy” and an average target price of $74.36.
Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors name and MICHAEL KORS, MICHAEL MICHAEL KORS, KORS MICHAEL KORS and various other related logos.
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