Kohl’s (NYSE:KSS) Releases FY23 Earnings Guidance

Kohl’s (NYSE:KSSGet Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.80-3.20 for the period, compared to the consensus estimate of $4.19. The company issued revenue guidance of down 5-6% yr/yr to $17.36-17.55 billion, compared to the consensus revenue estimate of $17.78 billion. Kohl’s also updated its FY 2022 guidance to $2.80-$3.20 EPS.

Kohl’s Stock Down 4.6 %

Shares of KSS stock traded down $1.44 on Friday, hitting $29.89. The stock had a trading volume of 6,111,799 shares, compared to its average volume of 4,740,219. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 4.67, a P/E/G ratio of 1.09 and a beta of 1.62. The stock’s 50 day moving average is $32.81 and its 200-day moving average is $47.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 1.40. Kohl’s has a 52-week low of $26.07 and a 52-week high of $64.38.

Kohl’s (NYSE:KSSGet Rating) last announced its earnings results on Thursday, August 18th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.08. Kohl’s had a net margin of 4.87% and a return on equity of 19.47%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the firm earned $2.48 earnings per share. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. As a group, research analysts expect that Kohl’s will post 3.9 earnings per share for the current year.

Kohl’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 6th. This represents a $2.00 dividend on an annualized basis and a yield of 6.69%. Kohl’s’s dividend payout ratio (DPR) is 31.06%.

Analysts Set New Price Targets

A number of analysts have weighed in on KSS shares. Robert W. Baird dropped their target price on shares of Kohl’s from $42.00 to $40.00 and set an outperform rating on the stock in a report on Friday. Citigroup cut shares of Kohl’s from a buy rating to a neutral rating and dropped their target price for the stock from $55.00 to $39.00 in a report on Monday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kohl’s from $37.00 to $36.00 in a report on Friday. TheStreet cut shares of Kohl’s from a b- rating to a c rating in a report on Friday, June 3rd. Finally, Cowen cut shares of Kohl’s from an outperform rating to a market perform rating and dropped their price objective for the stock from $60.00 to $35.00 in a report on Thursday, August 4th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $36.57.

Hedge Funds Weigh In On Kohl’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in KSS. Starboard Value LP purchased a new position in Kohl’s during the 1st quarter worth approximately $201,401,000. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Kohl’s during the 1st quarter valued at $11,078,000. Cadence Bank purchased a new position in shares of Kohl’s during the 1st quarter valued at $7,180,000. Evergreen Capital Management LLC grew its holdings in shares of Kohl’s by 258.3% during the 1st quarter. Evergreen Capital Management LLC now owns 125,622 shares of the company’s stock valued at $7,595,000 after acquiring an additional 90,566 shares in the last quarter. Finally, Eaton Vance Management grew its holdings in shares of Kohl’s by 322.1% during the 1st quarter. Eaton Vance Management now owns 70,189 shares of the company’s stock valued at $4,245,000 after acquiring an additional 53,562 shares in the last quarter. 92.72% of the stock is currently owned by hedge funds and other institutional investors.

Kohl’s Company Profile

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Kohl's Corporation operates as a retail company in the United States. It offers branded apparel, footwear, accessories, beauty, and home products through its stores and website. The company provides its products primarily under the brand names of Apt. 9, Croft & Barrow, Jumping Beans, SO, and Sonoma Goods for Life, as well as Food Network, LC Lauren Conrad, Nine West, and Simply Vera Vera Wang.

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Earnings History and Estimates for Kohl's (NYSE:KSS)

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