Capri Holdings Likely To Post Sharp Decline In Q1 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Lisa Levin
Capri Holdings Limited (NYSE:CPRI) is expected to report a sharp decline in its Q1 fiscal 2024 earnings on Aug. 10, 2023. Analysts predict earnings of 71 cents per share, down from $1.5 per share in the previous year, and revenue of $1.2 billion, down from $1.36 billion. Meanwhile, Tapestry is reportedly nearing a deal to acquire Capri Holdings. The company's shares fell 1.7% to close at $34.61 on Wednesday. Several analysts have recently downgraded the stock and cut their price targets.
August 10, 2023 | 6:26 am
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NEGATIVE IMPACT
Capri Holdings is expected to report a significant decline in Q1 earnings, and is also the subject of a potential acquisition by Tapestry. The company's stock has been downgraded by several analysts.
The expected sharp decline in earnings and the potential acquisition by Tapestry are likely to have a significant impact on Capri Holdings' stock. The recent downgrades and price target cuts by analysts further indicate a negative outlook for the company.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100