Nomura Securities Maintains a 'Neutral' on Gap, Inc. (GPS); 3Q Review
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Price: $24.55 --0%
Rating Summary:
14 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
14 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Nomura Securities maintains a 'Neutral' on Gap, Inc. (NYSE: GPS) price target of $18.00.
Nomura analyst, Paul Lejuez, said, "GPS reported 3Q EPS of $0.38 vs our est of $0.37 and cons of $0.36. Sales (2)%, comps incl direct (5)% (sales/comps prev reported), and operating margin (410)bp owing to GM (450)bp and 40bp of SG&A leverage. Management continues to manage the business well from an expense/cash perspective. However, efforts to improve the top line have fallen flat as we move into 4Q. The company sounded some warning bells on the earnings call about expected levels of promotions in 4Q throughout the industry. We are increasing our F11E EPS from $1.48 to $1.49 and F12E EPS from $1.85 to $1.87, based on a lower share count than previously forecast."
For an analyst ratings summary and ratings history on Gap, Inc. click here. For more ratings news on Gap, Inc. click here.
Shares of Gap, Inc. closed at $19.25 yesterday.
Nomura analyst, Paul Lejuez, said, "GPS reported 3Q EPS of $0.38 vs our est of $0.37 and cons of $0.36. Sales (2)%, comps incl direct (5)% (sales/comps prev reported), and operating margin (410)bp owing to GM (450)bp and 40bp of SG&A leverage. Management continues to manage the business well from an expense/cash perspective. However, efforts to improve the top line have fallen flat as we move into 4Q. The company sounded some warning bells on the earnings call about expected levels of promotions in 4Q throughout the industry. We are increasing our F11E EPS from $1.48 to $1.49 and F12E EPS from $1.85 to $1.87, based on a lower share count than previously forecast."
For an analyst ratings summary and ratings history on Gap, Inc. click here. For more ratings news on Gap, Inc. click here.
Shares of Gap, Inc. closed at $19.25 yesterday.
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