Michael Kors Holdings Limited
) achieved a new 52-week high of $83.91 on Dec 13, 2013,
eventually closing trade at $82.27. The average volume of shares
traded over the last 3 months was approximately 4,121K. Moreover,
the company currently trades at a forward P/E of 29.0x, a 58.7%
premium to the peer group average of 18.27x.
Shares of this Zacks Rank #2 (Buy) specialty retailer of apparel,
accessories, cosmetics and footwear have amassed a year-to-date
return of roughly 59.7%, riding on an impressive record of
beating the quarterly earnings expectations, robust sales growth
and strong demand for its brands and assortments, along with
innovative fashion designs. Moreover, the company's last traded
price is 2.8% below the Zacks Consensus average analyst price
target of $84.62.
Notably, Michael Kors boasts a history of beating the Zacks
Consensus Estimate. This global luxury lifestyle brand has
delivered positive earnings surprises in the last 8 quarters with
an average surprise of 44.9%.
In second-quarter fiscal 2014, the company posted strong
financial results with adjusted earnings of 71 cents per share,
up 44.9% year over year. The results also surpassed the Zacks
Consensus Estimate of 68 cents. Michael Kors' total revenue rose
38.9% to $740.3 million in the quarter.
The company provided a favorable outlook for the upcoming quarter
owing to rising demand for its products, especially watches. The
company expects third-quarter fiscal 2014 earnings in the range
of $0.83-$0.85, with full-year earnings likely to be in the
$2.77-$2.81 range. The long-term expected earnings growth rate
for this stock is 25.4%.
Apart from Michael Kors, retail stocks such as
Columbia Sportswear Company
DST Systems Inc.
) achieved new 52-week highs of $70.89, $89.87 and $41.91,
respectively, on Dec 13, 2013.
COLUMBIA SPORTS (COLM): Free Stock Analysis
DIGITALGLOBE (DGI): Free Stock Analysis
DST SYSTEMS (DST): Free Stock Analysis Report
MICHAEL KORS (KORS): Free Stock Analysis
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