Gap Q2 Earnings Meet Views

Gap Inc. Thursday reported another quarter of struggling sales, except, once again, at its Old Navy brand. The stock had a trading volume of 4,895,007 shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $40.00 price objective (down previously from $44.00) on shares of Gap in a report on Saturday, May 9th.

That was in line with the company’s own projections and analyst estimates.

Toyota (Tokyo Stock Exchange: 7203.T-JP) – The automaker will buy 13 million airbag inflators from Nippon Kayaku, a rival to Takata, according to a Reuters report. On a consensus basis this yields to a Hold rating. The rating by the firm was issued on August 11, 2015.

The company said that stronger dollar hurt quarterly revenue by $100 million and affected earnings by 5 percentage points in the latest quarter. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and expanding profit margins. The stock was sold at an average price of $38.25, for a total transaction of $286,875.00. Around 10% of the company’s shares, which are float, are short sold. This corresponds to an increase of $0.07 compared to the same quarter of the previous fiscal year. The average estimate of 15 analysts surveyed by Zacks Investment Research was also for earnings of 64 cents per share.

The business also recently announced a quarterly dividend, which will be distributed on Wednesday, October 28th. The consensus target price stands at $39.38. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.23 per share. The ex-dividend date is Monday, October 5th. The stock, however, gained $0.09 or 0.27% in after-hours trade. Equity Analysts at the Firm lowers the price target to $33 per share from $38 per share.

Gap Inc’s relatively expensive brands – Gap and Banana Republic – have struggled to garner customer attention for some time now, due to the lack of fashion relevant to prevailing consumer tastes.

The company also said it’s experimenting with a fast-fashion approach, a quick replenishment of best-selling items that has worked at its Old Navy brand, at its Gap stores as well. Its omni-channel services include order-in-store, reserve-in store, find-in store and boat-from-store that are tailored across its portfolio of brands. It’s Company-operated stores in the USA, the UK, Canada, France, Ireland, Japan, Italy, China and Hong Kong.