Investors wait Michael Kors Holdings Ltd (NYSE:KORS) to report on August, 9. its quarterly earnings Wall Street analysts expect $0.61 EPS, down $0.27 or 30.68 % from last year's $0.88 same quarter earnings. Dnb Asset As owns 0% invested in Michael Kors Holdings Ltd (NYSE:KORS) for 10,573 shares.
A number of other brokerages also recently weighed in on KORS. Jefferies Gru Ltd Liability Com owns 0.01% invested in Michael Kors Holdings Ltd (NYSE:KORS) for 49,296 shares. Its down 4.65% from 3.31M shares previously. The stock had declined 13 percent this year through Monday's close.
Capstone Asset Management Company, which manages about $499.69 million and $3.49B US Long portfolio, decreased its stake in Nucor Corp (NYSE:NUE) by 8,710 shares to 27,373 shares, valued at $1.63M in 2016Q4, according to the filing. Gateway Investment Advisers LLC now owns 278,769 shares of the lifestyle brand's stock worth $10,105,000 after buying an additional 9,054 shares during the last quarter.
Michael Kors' fiscal first-quarter results still reflect tough conditions, but they also showed the progress that the luxury retailer has made. Contrarius Investment Management Ltd boosted its position in shares of Michael Kors Holdings Limited by 49.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 493,688 shares of the lifestyle brand's stock worth $18,814,000 after buying an additional 438,629 shares during the period.
Michael Kors Holdings Limited announced that its board has authorized a share buyback program on Wednesday, May 31st that permits the company to repurchase $1.00 billion in outstanding shares.
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About 10.69 million shares traded or 439.90% up from the average. The company's 50-day moving average is $35.18 and its 200-day moving average is $37.09. The company has market cap of $38.73 million.
In terms of earnings per share, 19 analysts have a 1.49 EPS mean target for the quarter ending Dec-17, for the quarter ending Mar-17, 23 analysts have a 0.70 EPS mean target and for the quarter ending Mar-17 there are 23 estimates of 4.16 EPS. Michael Kors Holdings Ltd had 69 analyst reports since July 21, 2015 according to SRatingsIntel. The company had revenue of $952.40 million during the quarter, compared to the consensus estimate of $919.18 million. The company's revenue for the quarter was down 11.2% compared to the same quarter previous year. Grantham Mayo Van Otterloo Limited stated it has 0.02% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS). "We are encouraged by our first quarter performance, although we continue to believe that fiscal 2018 will be a transition year for our company, as we focus on laying the foundation for the future by executing on our strategic plan, Runway 2020", he said.
COPYRIGHT VIOLATION WARNING: "Meeder Asset Management Inc". If you are accessing this news story on another site, it was illegally stolen and reposted in violation of USA and global trademark and copyright laws. The legal version of this news story can be viewed at https://transcriptdaily.com/2017/08/07/michael-kors-holdings-limited-nysekors-shares-bought-by-great-west-life-assurance-co-can.html. Deutsche Bank maintained the shares of ENPH in report on Wednesday, November 4 with "Sell" rating. BidaskClub upgraded Michael Kors Holdings Limited from a "sell" rating to a "hold" rating in a research report on Monday, July 31st.
KORS stock holders are breathing a sigh of relief thanks to a double-digit spike following the company's fiscal first-quarter earnings report. On Friday, July 24 the stock rating was downgraded by Buckingham Research to "Neutral". Three analysts rating the company a strong buy, six analysts rating the company a buy, twenty-one analysts rating the company a hold, zero analysts rating the company a underperform, and finally zero analysts rating the company a sell with a one year target of $56.50. The stock of Michael Kors Holdings Ltd (NYSE:KORS) earned "Hold" rating by BMO Capital Markets on Wednesday, May 31.