Somewhat Positive News Coverage Somewhat Unlikely to Impact Michael Kors (KORS) Stock Price
News headlines about Michael Kors (NYSE:KORS) have been trending somewhat positive on Monday, according to Accern Sentiment. The research firm identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Michael Kors earned a daily sentiment score of 0.15 on Accern’s scale. Accern also assigned media headlines about the lifestyle brand an impact score of 45.0373485242948 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the media headlines that may have effected Accern’s rankings:
- Unique Roll-Up Strategy Could Justify 300%+ Returns For This Unknown Small Cap Retail Technology Stock (finance.yahoo.com)
- Michael Kors Stock’s Stellar Performance in 2017 (finance.yahoo.com)
- First Week of March 16th Options Trading For Michael Kors Holdings (KORS) (nasdaq.com)
- What are Michael Kors' Strategies for Long-Term Growth? (finance.yahoo.com)
- Can Michael Kors Beat Earnings Expectations Once Again? (finance.yahoo.com)
Several brokerages have recently commented on KORS. Barclays boosted their price objective on Michael Kors from $58.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday. Oppenheimer raised their price target on Michael Kors from $62.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Robert W. Baird set a $62.00 price target on Michael Kors and gave the company a “hold” rating in a research note on Sunday, January 21st. ValuEngine raised Michael Kors from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, Needham & Company LLC began coverage on Michael Kors in a report on Monday, December 18th. They set a “buy” rating and a $69.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $54.14.
Michael Kors (NYSE:KORS) last released its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.50. Michael Kors had a net margin of 12.68% and a return on equity of 42.09%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. Michael Kors’s quarterly revenue was up 5.4% on a year-over-year basis. analysts anticipate that Michael Kors will post 3.96 EPS for the current fiscal year.
In related news, SVP Krista A. Mcdonough sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the completion of the sale, the senior vice president now directly owns 10,647 shares in the company, valued at $595,486.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John D. Idol sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total transaction of $27,560.00. Following the sale, the chief executive officer now owns 1,688,046 shares of the company’s stock, valued at $93,045,095.52. The disclosure for this sale can be found here. Insiders sold 16,835 shares of company stock valued at $964,403 over the last quarter. Insiders own 6.00% of the company’s stock.
Michael Kors Company Profile
Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.
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