Kate Spade & Co. shares slid 2% in Tuesday premarket trading after the accessories company reported first-quarter 2017 earnings that missed expectations. Similarly, the company's last 5 years high P/E ratio is 104.96 and low P/E is 15.9, whereas, the industry's and sector's high P/E for the past year is 114.44 and 33.49 respectively and low P/E ratio for the last 5 years is 24.37 for the industry and 14.92 for the Sector. Moreover, CLSA issued Downgrade rating for the stock on 17-Feb-17.
Instead, the downbeat results are further evidence the build-up in Kate Spade shares in anticipation of a deal has been excessive, as Brooke Sutherland and I argued in March.
The stock's 50 day moving average is 22.13 and its 200 day moving average is 18.71.
Beta is also an important valuation ratio for analyzing the stock of the company, KATE has Beta of 1.7 while its industry and Sector's beta remains at 1.36 and 1.31 respectively.
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The company's expected revenue in the current quarter to be 344.46 Million, seeing a projected current quarter growth of 36.4%, and per annum growth estimates over the next 5 year period of around 23.75%. The current share price indicates that stock is -31.37% away from its one year high and is moving 29.53% ahead of its 52-week low.
On 4/4/2017, Vetr Inc. released a statement on Kate Spade & Co (NYSE:KATE) upped the target price from $0.00 to $25.44 that suggested an upside of 0.31%. They now have a United States dollars 22 price target on the stock. Diluted earnings per share from continuing operations for the first quarter of 2017 were $0.01 using a normalized tax rate and counting $0.04 of after tax impact from the formerly noted charges, fees and expenses, contrast to $0.05 for the first quarter of 2016. An average of 17 analysts for Capital IQ expected Q1 EPS of $0.07 per share. Kate Spade & Co had a net margin of 9.67% and a return on equity of 27.34%. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and worldwide copyright & trademark laws. The legal version of this piece can be viewed at https://transcriptdaily.com/2017/04/20/kate-spade-co-kate-receives-market-perform-rating-from-cowen-and-company.html.
Several hedge funds have recently added to or reduced their stakes in KATE. The FactSet consensus was for a 3.4% increase.
At the time, shares had climbed by about 60 percent in three months.
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01/25/2017 - Kate Spade was downgraded to " by analysts at Telsey Advisory Group. Asset Management One Co. LS Investment Advisors LLC now owns 8,314 shares of the textile maker's stock worth $142,000 after buying an additional 439 shares in the last quarter.
That seemed odd because the job of Kate Spade's board should have been attaining the highest possible takeover price, an option that began to fade as time passed, investor euphoria cooled, and the company lost leverage to command a higher price. Institutional investors own 98.36% of the company's stock.
Kate Spade & Company (KATE) has a mean recommendation of 1.92, according to data compiled by Zacks Investment Research.
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