Insights Into Gap (GAP) Q2: Wall Street Projections for Key Metrics
In its upcoming report, Gap (GAP) is predicted by Wall Street analysts to post quarterly earnings of $0.50 per share, reflecting a decline of 12.3% compared to the same period last year. Revenues are forecasted to be $3.72 billion, representing a year-over-year decrease of 0.1%.
Over the last 30 days, there has been a downward revision of 1.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Gap metrics that Wall Street analysts commonly model and monitor.
The consensus among analysts is that 'Net Sales- Old Navy Global- Total' will reach $2.11 billion. The estimate suggests a change of -2.1% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- Banana Republic Global- Total' of $475.09 million. The estimate indicates a year-over-year change of 0%.
According to the collective judgment of analysts, 'Net Sales- Gap Global- Total' should come in at $843.10 million. The estimate indicates a change of +9.2% from the prior-year quarter.
Analysts forecast 'Number of Store Locations - Gap - Total' to reach 589 . Compared to the present estimate, the company reported 578 in the same quarter last year.
The consensus estimate for 'Number of Store Locations - Banana Republic - Total' stands at 396 . Compared to the present estimate, the company reported 413 in the same quarter last year.
Based on the collective assessment of analysts, 'Number of Store Locations - Old Navy North America' should arrive at 1,241 . The estimate is in contrast to the year-ago figure of 1,240 .
It is projected by analysts that the 'Comparable Sales - Banana Republic - YoY change' will reach 1.6%. Compared to the present estimate, the company reported 4.0% in the same quarter last year.
Analysts' assessment points toward 'Comparable Sales - Gap - YoY change' reaching 8.3%. Compared to the present estimate, the company reported 4.0% in the same quarter last year.
The average prediction of analysts places 'Number of Store Locations - Company-operated stores' at 2,477 . The estimate compares to the year-ago value of 2,486 .
Analysts expect 'Square Footage - Banana Republic North America' to come in at 3 millions of square feet. Compared to the present estimate, the company reported 3 millions of square feet in the same quarter last year.
Analysts predict that the 'Number of Store Locations - Athleta North America' will reach 252 . The estimate is in contrast to the year-ago figure of 255 .
The combined assessment of analysts suggests that 'Square Footage - Company-operated stores total' will likely reach 30 millions of square feet. The estimate is in contrast to the year-ago figure of 30 millions of square feet.
View all Key Company Metrics for Gap here>>>Over the past month, Gap shares have recorded returns of +4.2% versus the Zacks S&P 500 composite's +2.3% change. Based on its Zacks Rank #3 (Hold), GAP will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
