Wall Street analysts expect that Capri Holdings Ltd (NYSE:CPRI) will report sales of $1.18 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Capri’s earnings. The highest sales estimate is $1.29 billion and the lowest is $1.07 billion. Capri posted sales of $1.34 billion during the same quarter last year, which would indicate a negative year over year growth rate of 11.9%. The firm is expected to issue its next earnings results before the market opens on Wednesday, July 1st.
On average, analysts expect that Capri will report full year sales of $5.53 billion for the current fiscal year, with estimates ranging from $5.43 billion to $5.65 billion. For the next fiscal year, analysts expect that the business will report sales of $4.88 billion, with estimates ranging from $4.17 billion to $5.94 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Capri.
A number of equities research analysts have recently commented on the stock. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Capri in a research note on Thursday. Deutsche Bank lowered their price objective on shares of Capri from $24.00 to $21.00 and set a “hold” rating on the stock in a report on Monday, June 8th. Piper Sandler downgraded shares of Capri from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $21.00 to $16.00 in a report on Monday, May 18th. Guggenheim lowered their price objective on shares of Capri from $45.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, MKM Partners lowered their price objective on shares of Capri from $35.00 to $15.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.31.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eminence Capital LP grew its stake in shares of Capri by 4.8% in the 1st quarter. Eminence Capital LP now owns 13,806,593 shares of the company’s stock worth $148,973,000 after acquiring an additional 632,054 shares in the last quarter. Invesco Ltd. grew its position in Capri by 3.3% during the first quarter. Invesco Ltd. now owns 12,063,176 shares of the company’s stock valued at $130,163,000 after buying an additional 380,144 shares during the period. State Street Corp grew its position in Capri by 0.7% during the first quarter. State Street Corp now owns 6,923,932 shares of the company’s stock valued at $74,709,000 after buying an additional 46,704 shares during the period. ARGA Investment Management LP grew its position in Capri by 54.3% during the first quarter. ARGA Investment Management LP now owns 5,232,233 shares of the company’s stock valued at $56,456,000 after buying an additional 1,840,818 shares during the period. Finally, Senvest Management LLC grew its position in Capri by 9.3% during the fourth quarter. Senvest Management LLC now owns 2,920,744 shares of the company’s stock valued at $111,426,000 after buying an additional 249,226 shares during the period. Hedge funds and other institutional investors own 92.34% of the company’s stock.
Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.
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