Capri Holdings Ltd (NYSE:CPRI) Expected to Announce Quarterly Sales of $1.18 Billion

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.

Shares of NYSE:CPRI traded up $1.29 during trading on Monday, reaching $15.66. The stock had a trading volume of 3,748,415 shares, compared to its average volume of 4,734,877. The firm’s fifty day moving average is $16.81 and its 200 day moving average is $14.11. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.36 and a current ratio of 0.77. Capri has a 52 week low of $5.42 and a 52 week high of $39.90. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 6.30, a P/E/G ratio of 1.29 and a beta of 1.88.

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.

About Capri

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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