Michael Kors Acquires Greater China Licensee
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Wedbush Raises price Target on Michael Kors (KORS) Following 4Q Report
June 2, 2016 7:36 AM EDTWedbush reiterated a Neutral rating on Michael Kors (NYSE: KORS), and raised the price target to $46.00 (from $43.00), following the company's 4Q earnings report. KORS reported an EPS of $0.98, a penny above Wedbush's estimates. The results were driven by better than expected sales and gross margin. The company's 1Q non-GAAP EPS guidance of... More
Mizuho Securities Remains Sidelined on Michael Kors (KORS) Following 4Q EPS Beat
June 1, 2016 2:38 PM EDTMizuho Securities reiterated a Neutral rating and $50.00 price target on Michael Kors (NYSE: KORS) following the company's 4Q earnings report. KORS reported an EPS of $0.98, beating the Streets $0.97 estimate. Mizuho decided to adjust its 1Q EPS estimates to $0.72 from $0.94 reflecting global comps of (5)%,... More
Michael Kors (KORS) Tops Q4 EPS by 1c; Completes Greater China Licensee Purchase; Approves $1B Stock Buyback
June 1, 2016 6:57 AM EDTMichael Kors (NYSE: KORS) reported Q4 EPS of $0.98, $0.01 better than the analyst estimate of $0.97. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.15 billion.
The Company completed the acquisition of Michael Kors (HK) Limited, the exclusive licensee of the Company in China and certain other jurisdictions in Asia, on May 31, 2016, for $500 million in cash, subject to certain adjustments. The acquisition was approved by the independent members of the Companys board of directors, upon... More
