Michael Kors (KORS) Raising PT to $69 - Piper Jaffray
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Michael Kors (KORS): Don't Fall for the Seemingly Low Valuation - Cannacord Genuity
June 2, 2016 9:41 AM EDTCannacord Genuity analyst, Camilo Lyon, isn't dissuaded from the Hold rating and $45 PT despite Michael Kors (NYSE: KORS) posting decent Q4 results. EPS of 98c topped the 95c estimate on slightly stronger retail comps (+0.3% vs. our -2.4%) and curiously strong w/s sales (+3.5% vs. the -7% est.). Gross margin of 58.2% was in line with estimates while SG&A dollar growth of 20.9% far outpaced our 11% est.
That all said, we remain concerned that the underlying trends at KORS are deteriorating. First, NA wholesale is under pressure due to excessive promotions, weak traffic trends, and general... More
Wedbush Raises price Target on Michael Kors (KORS) Following 4Q Report
June 2, 2016 7:36 AM EDTWedbush reiterated a Neutral rating on Michael Kors (NYSE: KORS), and raised the price target to $46.00 (from $43.00), following the company's 4Q earnings report. KORS reported an EPS of $0.98, a penny above Wedbush's estimates. The results were driven by better than expected sales and gross margin. The company's 1Q non-GAAP EPS guidance of... More
Mizuho Securities Remains Sidelined on Michael Kors (KORS) Following 4Q EPS Beat
June 1, 2016 2:38 PM EDTMizuho Securities reiterated a Neutral rating and $50.00 price target on Michael Kors (NYSE: KORS) following the company's 4Q earnings report. KORS reported an EPS of $0.98, beating the Streets $0.97 estimate. Mizuho decided to adjust its 1Q EPS estimates to $0.72 from $0.94 reflecting global comps of (5)%,... More
Michael Kors (KORS) Tops Q4 EPS by 1c; Completes Greater China Licensee Purchase; Approves $1B Stock Buyback
June 1, 2016 6:57 AM EDTMichael Kors (NYSE: KORS) reported Q4 EPS of $0.98, $0.01 better than the analyst estimate of $0.97. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.15 billion.
The Company completed the acquisition of Michael Kors (HK) Limited, the exclusive licensee of the Company in China and certain other jurisdictions in Asia, on May 31, 2016, for $500 million in cash, subject to certain adjustments. The acquisition was approved by the independent members of the Companys board of directors, upon... More
