Q3 Earnings Miss Sends Kohl’s Corporation Stock Falling

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Kohl’s Corporation (NYSE:KSS) stock was on its way down Thursday following an earnings miss in the third quarter of 2017.

Q3 Earnings Miss Sends Kohl's Corporation Stock Falling

Earnings per share reported by Kohl’s Corporation in the third quarter of the year was 70 cents. This is down from the earnings per share of 80 cents reported in the same period of the year prior. It was also a blow to KSS stock by coming in below Wall Street’s earnings per share estimate of 72 cents for the quarter.

Kohl’s Corporation reported net income of $117 million in its third quarter of 2017. This is a decline from its net income of $146 million from the same quarter of the previous year. Gross margin for the quarter was 36.8%, as compared to 37.1% the same time last year.

During the third quarter of 2017, Kohl’s Corporation reported revenue of $4.33 billion. This matches the retail company’s revenue from the third quarter of 2016. It was also able to come in above analysts’ revenue estimate of $4.30 billion for the third quarter of 2017.

Kohl’s Corporation also tightened its guidance for the full year of 2017 in its most recent earnings report. It is now expecting earnings per share for the year to range from $3.60 to $3.80. It was previously looking for 2017 earnings per share to range from $3.50 to $3.80. Wall Street is estimating earnings per share of $3.76 for the year.

Kohl’s Corporation also notes that it will be paying a dividend to investors on Dec. 20, 2017. The dividend will be for 55 cents per share and is payable to holders of KSS stock that are on record as of Dec. 6, 2017.

KSS stock was down 6% as of Thursday morning and is down 21% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/kohls-stock-drops-on-q3-earnings-miss/.

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