Gap Inc. Reports Third Quarter Results
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JPMorgan Downgrades Gap, Inc. (GPS) to Neutral
November 24, 2021 5:45 AM ESTJPMorgan analyst Matthew Boss downgraded Gap, Inc. (NYSE: GPS) from Overweight to Neutral with a price target of $22.00 (from $39.00).
The analyst comments "We rate GPS Neutral. We see potential for Old Navy to continue to grow market share across numerous categories (denim,... More
Gap, Inc. (GPS) Misses Q3 EPS by 24c, Cuts FY EPS Guidance
November 23, 2021 4:17 PM ESTGap, Inc. (NYSE: GPS) reported Q3 EPS of $0.27, $0.24 worse than the analyst estimate of $0.51. Revenue for the quarter came in at $3.94 billion versus the consensus estimate of $4.47 billion.
GUIDANCE:
Gap, Inc. sees FY2021 EPS of $1.25-$1.40, versus the consensus of $2.20.
The company now expects its reported full-year diluted earnings per share to be in the range of $0.45 to $0.60, which includes a $325 million loss on extinguishment of debt and approximately $120 million in net charges primarily related to divestitures and changes to its European operating model. Excluding these... More