Published: Fri, August 18, 2017
Business | By Max Garcia

Gap Joins Retailers With Decent Quarters; Posts Surprise Earnings Beat

Gap Joins Retailers With Decent Quarters; Posts Surprise Earnings Beat

(The) were worth $649,000 at the end of the most recent reporting period. Foster & Motley Inc. bought a new position in Gap, Inc. (The) during the first quarter valued at about $127,000. James Investment Research Inc. acquired a new stake in Gap, Inc. The value in dollars went from $442,000 to $391,000 a change of $51,000 since the last quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer's stock valued at $145,000 after buying an additional 520 shares in the last quarter. (The) by 3.1% in the first quarter. J P Morgan Chase & Co upgraded shares of Gap, Inc. (The) during the first quarter valued at $211,000.

The stock of Gap Inc (NYSE:GPS) is a huge mover today! (The) during the first quarter worth $217,000.

Hedge funds have recently modified their holdings of the company. Vetr lowered shares of Gap, Inc.

Shares last traded at $23.87 marginally over $22.87, the stock's 50 day moving average and barely above the 200 day moving average of $23.73. Gap Inc (NYSE:GPS) has risen 28.94% since August 16, 2016 and is uptrending. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 12.76 and a beta of 0.87. The third largest holder is American International Group Inc, which now holds $367.98 million worth of this stock and that ownership represents almost 4.14% of its market capitalization. Gap, Inc. (The) had a net margin of 4.46% and a return on equity of 29.75%.

The company's total revenue fell 1.4 percent to $3.799 billion, just edging past analysts' estimate of $3.77 billion, according to Thomson Reuters I/B/E/S.

Gap raised its adjusted profit forecast for fiscal 2017 to $2.02 to $2.10 per share from $1.95 to $2.05. The firm's revenue for the quarter was up.1% on a year-over-year basis. On average, equities research analysts anticipate that Gap, Inc. will post $2.00 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. The dividend was $0.230 per share for the quarter which is $0.92 annualized. The ex-dividend date of this dividend is Tuesday, October 3rd. Gotham Asset Lc reported 0.28% of its portfolio in Gap Inc (NYSE:GPS). If you are viewing this news story on another publication, it was stolen and reposted in violation of US & worldwide copyright & trademark law. The legal version of this piece can be viewed at

Several equities analysts have recently issued reports on Global Positioning System shares. Zacks Investment Research downgraded Gap, Inc. Also, there are 0 buy, 1 sell and 2 strong sell ratings, collectively assigning a 2.93 average brokerage recommendation. (The) from a "sell" rating to a "hold" rating and set a $24.84 target price for the company in a research report on Monday, May 15th. As per Tuesday, November 8, the company rating was maintained by Mizuho. "(The) (GPS)" was first published by Rincon Hill News and is the property of of Rincon Hill News. (The) and gave the company a "hold" rating in a report on Tuesday. BMO Capital Markets reiterated a hold rating and set a $30.00 target price on shares of Gap, Inc. On Tuesday, August 18 the stock rating was initiated by Wolfe Research with "Underperform". The Massachusetts-based Bollard Gp Ltd Liability has invested 0% in Gap Inc (NYSE:GPS). (The) in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company.

Blackrock Advsr Lc has invested 0.15% in Gap Inc (NYSE:GPS).

The company's lower-priced Old Navy line, which has bolstered the stock in recent quarters, reported same-store sales increasing 5%, while the Gap and Banana Republic brands' same-store sales fell 1% and 5%, respectively.

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