Tiffany & Co. Stock Rating Lowered by Citigroup Inc. (TIF)
Tiffany & Co. (NYSE:TIF) was downgraded by equities research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $88.00 price target on the stock. Citigroup Inc.’s price objective indicates a potential upside of 8.88% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Tiffany & Co. (NYSE:TIF) traded down 3.04% during mid-day trading on Tuesday, hitting $78.36. The stock had a trading volume of 1,350,314 shares. Tiffany & Co. has a 52 week low of $55.83 and a 52 week high of $83.33. The stock has a 50-day moving average of $79.83 and a 200-day moving average of $74.17. The company has a market cap of $9.997 billion and a price-to-earnings ratio of 24.79. Tiffany & Co. also saw some unusual options trading activity on Monday. Stock traders acquired 9,431 call options on the company. This represents an increase of 390% compared to the typical volume of 1,923 call options.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.83 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $0.09. The company had revenue of $926.00 million for the quarter, compared to the consensus estimate of $941.37 million. During the same quarter last year, the company posted $0.72 earnings per share. Tiffany & Co.’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Tiffany & Co. will post $3.53 earnings per share for the current fiscal year.
A number of other firms have also recently commented on TIF. Analysts at Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Tiffany & Co. in a research note to investors on Tuesday. They now have a $84.00 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Tiffany & Co. from $54.00 to $57.00 in a research note to investors on Tuesday. They now have a “sell” rating on the stock. Finally, analysts at Sterne Agee set a $86.00 price target on shares of Tiffany & Co. in a research note to investors on Thursday, August 15th. They now have a “neutral” rating on the stock.
Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $76.65.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 10th. Investors of record on Friday, September 20th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, September 18th.
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (NYSE:TIF), is a jeweler and specialty retailer whose principal merchandise offering is jewelry.
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