Michael Kors Holdings Ltd (KORS) was Reiterated by Wedbush to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 46 from a previous price target of $43 . Wedbush advised their investors in a research report released on Jun 2, 2016.
Many Wall Street Analysts have commented on Michael Kors Holdings Ltd. Shares were Reiterated by Canaccord Genuity on May 12, 2016 to “Hold” and Lowered the Price Target to $ 45 from a previous price target of $48 .Michael Kors Holdings Ltd was Upgraded by Piper Jaffray to ” Overweight” on Apr 27, 2016. Company shares were Reiterated by Mizuho on Apr 22, 2016 to “Neutral”, Firm has raised the Price Target to $ 50 from a previous price target of $45 .
On the company’s financial health, Michael Kors Holdings Ltd reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jun 1, 2016. Analyst had a consensus of $0.97. The company had revenue of $1199.00 million for the quarter, compared to analysts expectations of $1148.26 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.
Michael Kors Holdings Ltd opened for trading at $45.29 and hit $45.999 on the upside on Wednesday, eventually ending the session at $45.55, with a gain of 6.62% or 2.83 points. The heightened volatility saw the trading volume jump to 1,65,33,433 shares. Company has a market cap of $8,173 M.
Michael Kors Holdings Limited is a global accessories footwear and apparel company. The Company operates its business in three segments: retail wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection it offers accessories including handbags and small leather goods many of which are made from leathers and other exotic skins footwear and apparel including ready-to-wear women swear and menswear. Its MICHAEL Michael Kors collection offers accessories primarily handbags and small leather goods such as clutches wallets wristlets and cosmetic cases; footwear primarily in women’s styles; and women swear including dresses tops jeans pants skirts shorts and outerwear. Through its licensing segment it enters into agreements that license to third parties use of its brand name and trademarks certain production and sales and distribution rights.