Market Update: The Gap Inc (NYSE:GPS) – Apparel retailer Gap’s full-year profit forecast misses estimates

[Reuters] – Apparel retailer Gap Inc forecast full-year profit below analysts’ estimates, hurt by a strong dollar and continued weak sales in its Banana Republic and Gap brands. Gap said it expected adjusted profit of $2.20-$$2.25 per share for the full-year ending January 2017. Analysts on average had expected a profit of $2.42 per share, according to Thomson Reuters I/B/E/S. Read more on this. The Gap, Inc. (GPS) , with a current value of $11.09B, opened this morning at $27.18. Looking at today’s trading action, the company’s one day range from $26.64 to $27.69 with a one year range of $21.57 to $43.90. GPS shares are currently priced at 11.31x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 14.24x earnings multiple. And for income investors, the company pays shareholders $0.92 per share annually in dividends, yielding 3.51%. According to a consensus of 28 analysts, the earnings estimate of $0.57 per share would be $0.18 worse than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $2.41 which would be a $0.41 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.46 Billion. If realized, that would be a 5.31% decrease over the year-ago quarter. Recently, Barclays Initiated GPS at Underweight (Oct 29, 2015). Previously, MKM Partners downgraded GPS from Buy to Neutral. Investors should keep in mind is that the average price target is $26.41, which is 2.83% below where the stock opened this morning. See more in (NYSE:GPS) Similar Articles: Stock Update: The Gap Inc (NYSE:GPS) – Gap cuts full-year profit forecast as dollar weighs Company Update: The Gap Inc (NYSE:GPS) – Gap Inc. Appoints Apparel Industry Veteran Tracy Gardner to Its Board of Directors Market Update (NASDAQ:ADBE): Adobe Systems (ADBE) Stock Swings to Loss, Profit Forecast Misses Estimates