Piper Jaffray Companies Analysts Decrease Earnings Estimates for Capri Holdings Ltd (NYSE:CPRI)

Capri Holdings Ltd (NYSE:CPRI) – Stock analysts at Piper Jaffray Companies lowered their Q3 2021 earnings estimates for shares of Capri in a report issued on Tuesday, June 4th, Zacks Investment Research reports. Piper Jaffray Companies analyst E. Murphy now anticipates that the company will post earnings of $1.83 per share for the quarter, down from their previous forecast of $1.84.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC set a $54.00 target price on Capri and gave the company a “buy” rating in a research report on Wednesday, June 5th. Canaccord Genuity restated a “buy” rating and issued a $67.00 target price (down previously from $76.00) on shares of Capri in a research report on Thursday, May 30th. They noted that the move was a valuation call. Wells Fargo & Co decreased their target price on Capri from $48.00 to $40.00 and set a “market perform” rating on the stock in a research report on Thursday, May 30th. ValuEngine downgraded Capri from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 24th. Finally, Zacks Investment Research upgraded Capri from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Capri presently has an average rating of “Hold” and a consensus target price of $52.00.

CPRI stock traded up $0.68 during mid-day trading on Thursday, reaching $34.68. 2,410,134 shares of the company’s stock were exchanged, compared to its average volume of 3,068,539. The firm has a market capitalization of $5.13 billion, a P/E ratio of 6.98, a price-to-earnings-growth ratio of 1.05 and a beta of 0.70. The firm has a 50 day moving average of $36.43. The company has a current ratio of 1.12, a quick ratio of 0.50 and a debt-to-equity ratio of 0.80. Capri has a 12-month low of $32.08 and a 12-month high of $75.96.

Capri (NYSE:CPRI) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. Capri had a return on equity of 33.75% and a net margin of 10.36%. Capri’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Capri during the first quarter worth $468,066,000. AQR Capital Management LLC acquired a new stake in shares of Capri in the first quarter valued at $405,282,000. FMR LLC acquired a new stake in shares of Capri in the first quarter valued at $312,693,000. Geode Capital Management LLC acquired a new stake in shares of Capri in the fourth quarter valued at $89,438,000. Finally, Northern Trust Corp acquired a new stake in shares of Capri in the first quarter valued at $94,128,000. 86.65% of the stock is owned by institutional investors.

In other Capri news, CEO John D. Idol bought 615,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was bought at an average price of $32.57 per share, with a total value of $20,030,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Jr. Edwards bought 11,600 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were acquired at an average cost of $34.41 per share, with a total value of $399,156.00. The disclosure for this purchase can be found here. 5.30% of the stock is currently owned by company insiders.

About Capri

Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Earnings History and Estimates for Capri (NYSE:CPRI)

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