Capri (NYSE:CPRI) Shares Gap Down Following Weak Earnings

Capri Holdings Limited (NYSE:CPRIGet Free Report)’s stock price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $34.18, but opened at $33.40. Capri shares last traded at $33.59, with a volume of 230,616 shares.

The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.30). Capri had a net margin of 3.96% and a return on equity of 25.79%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The business’s revenue was down 8.4% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research firms have issued reports on CPRI. OTR Global restated a “mixed” rating on shares of Capri in a research note on Wednesday, April 17th. StockNews.com initiated coverage on shares of Capri in a research note on Saturday, April 13th. They issued a “hold” rating for the company. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $42.00 target price on shares of Capri in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Capri currently has an average rating of “Hold” and a consensus price target of $49.25.

View Our Latest Stock Analysis on CPRI

Institutional Investors Weigh In On Capri

Hedge funds have recently added to or reduced their stakes in the company. Calamos Advisors LLC lifted its position in Capri by 14.2% in the fourth quarter. Calamos Advisors LLC now owns 553,387 shares of the company’s stock valued at $27,802,000 after purchasing an additional 68,663 shares during the period. Peak Financial Advisors LLC acquired a new stake in Capri in the fourth quarter valued at about $2,309,000. Westchester Capital Management LLC acquired a new stake in Capri in the third quarter valued at about $87,352,000. Raymond James Financial Services Advisors Inc. lifted its position in Capri by 26.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 48,524 shares of the company’s stock valued at $2,438,000 after purchasing an additional 10,029 shares during the period. Finally, SG Americas Securities LLC lifted its position in Capri by 742.3% in the fourth quarter. SG Americas Securities LLC now owns 45,627 shares of the company’s stock valued at $2,292,000 after purchasing an additional 40,210 shares during the period. Institutional investors and hedge funds own 84.34% of the company’s stock.

Capri Stock Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.06 and a quick ratio of 0.49. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 6.95 and a beta of 2.08. The stock’s 50-day moving average is $38.83 and its 200 day moving average is $45.04.

About Capri

(Get Free Report)

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.

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