Capri Holdings Limited (NYSE:CPRI) Forecasted to Earn Q1 2024 Earnings of $0.70 Per Share

Posted by Defense World Staff on Jun 5th, 2023

Capri Holdings Limited (NYSE:CPRI – Get Rating) – Analysts at Telsey Advisory Group cut their Q1 2024 earnings per share estimates for shares of Capri in a note issued to investors on Thursday, June 1st. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings of $0.70 per share for the quarter, down from their previous estimate of $1.54. Telsey Advisory Group has a “Market Perform” rating and a $70.00 price objective on the stock. The consensus estimate for Capri’s current full-year earnings is $6.18 per share. Telsey Advisory Group also issued estimates for Capri’s Q3 2024 earnings at $2.54 EPS and Q4 2024 earnings at $1.36 EPS.

Capri (NYSE:CPRI – Get Rating) last issued its quarterly earnings results on Wednesday, May 31st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. Capri had a return on equity of 38.22% and a net margin of 10.96%. Capri’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 EPS.

Other analysts also recently issued reports about the company. TheStreet downgraded Capri from a “b” rating to a “c” rating in a report on Wednesday. Wells Fargo & Company lowered their price target on Capri from $65.00 to $55.00 in a report on Wednesday, May 10th. BMO Capital Markets decreased their price objective on shares of Capri from $74.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 9th. Robert W. Baird decreased their price objective on shares of Capri from $68.00 to $58.00 in a research report on Thursday. Finally, Cowen cut shares of Capri from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $70.00 to $55.00 in a research report on Monday, February 13th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.19.

Capri Stock Up 4.9 %

Shares of NYSE CPRI opened at $36.10 on Monday. Capri has a 12-month low of $34.25 and a 12-month high of $69.25. The company has a market cap of $4.24 billion, a P/E ratio of 8.08, a P/E/G ratio of 1.88 and a beta of 2.30. The company has a current ratio of 1.29, a quick ratio of 0.57 and a debt-to-equity ratio of 0.99. The stock has a fifty day moving average price of $41.49 and a 200 day moving average price of $50.31.

Institutional Investors Weigh In On Capri

Institutional investors and hedge funds have recently bought and sold shares of the business. Park Avenue Securities LLC boosted its stake in Capri by 2.3% in the 4th quarter. Park Avenue Securities LLC now owns 8,267 shares of the company’s stock worth $474,000 after purchasing an additional 184 shares during the period. Ellevest Inc. boosted its stake in shares of Capri by 77.0% during the 4th quarter. Ellevest Inc. now owns 492 shares of the company’s stock valued at $28,000 after buying an additional 214 shares during the period. Cooper Financial Group boosted its stake in shares of Capri by 3.9% during the 4th quarter. Cooper Financial Group now owns 6,093 shares of the company’s stock valued at $349,000 after buying an additional 228 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Capri by 2.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 11,234 shares of the company’s stock valued at $644,000 after buying an additional 266 shares during the period. Finally, TCI Wealth Advisors Inc. boosted its stake in shares of Capri by 123.5% during the 4th quarter. TCI Wealth Advisors Inc. now owns 590 shares of the company’s stock valued at $34,000 after buying an additional 326 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Capri Company Profile

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Capri Holdings Ltd. operates as a global fashion luxury group. It engages in the design and distribution of sportswear, accessories, footwear and apparel of branded women’s apparel and accessories and men’s apparel. The firm operates through the following segments: Versace, Jimmy Choo, and Michael Kors.