GAP (GPS) Scheduled to Post Quarterly Earnings on Thursday

GAP (NYSE:GPS - Get Free Report) will be issuing its quarterly earnings data after the market closes on Thursday, August 29th. Analysts expect the company to announce earnings of $0.42 per share for the quarter. GAP has set its FY 2024 guidance at EPS.Investors interested in listening to the company's conference call can do so using this link.

GAP (NYSE:GPS - Get Free Report) last released its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.27. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.29 billion. GAP had a return on equity of 27.57% and a net margin of 4.52%. The firm's revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, analysts expect GAP to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

GAP Trading Up 4.4 %

Shares of GAP stock traded up $1.03 during trading on Thursday, hitting $24.55. 7,170,549 shares of the company were exchanged, compared to its average volume of 7,633,672. The firm's fifty day moving average price is $23.35 and its 200 day moving average price is $22.77. GAP has a 1-year low of $9.38 and a 1-year high of $30.75. The firm has a market capitalization of $9.21 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.40 and a beta of 2.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 0.80.

GAP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, October 9th. GAP's dividend payout ratio (DPR) is 33.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com lowered GAP from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, June 4th. Morgan Stanley upgraded GAP from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $27.00 to $29.00 in a report on Thursday, July 18th. Citigroup upgraded GAP from a "neutral" rating to a "buy" rating and upped their target price for the stock from $21.00 to $28.00 in a report on Tuesday, May 7th. Bank of America raised GAP from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $18.50 to $25.00 in a research report on Wednesday, July 31st. Finally, TD Cowen raised shares of GAP from a "hold" rating to a "buy" rating and raised their target price for the company from $28.00 to $30.00 in a research note on Tuesday, June 25th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, GAP presently has an average rating of "Moderate Buy" and an average target price of $26.51.

Insider Buying and Selling at GAP

In other GAP news, Director Tracy Gardner sold 2,934 shares of the firm's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $23.48, for a total transaction of $68,890.32. Following the transaction, the director now directly owns 51,901 shares in the company, valued at approximately $1,218,635.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other GAP news, Director Tracy Gardner sold 2,934 shares of the company's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.48, for a total transaction of $68,890.32. Following the sale, the director now directly owns 51,901 shares of the company's stock, valued at $1,218,635.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Katrina O'connell sold 20,000 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $29.01, for a total value of $580,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,132 shares of company stock valued at $654,003. Company insiders own 30.81% of the company's stock.

About GAP

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.