Jefferies Group Reiterates Hold Rating for Tiffany & Co. (TIF)
Tiffany & Co. (NYSE:TIF)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Group in a report released on Thursday. They currently have a $0.38 price target on the stock, up from their previous price target of $0.34. Jefferies Group’s price objective suggests a potential downside of 99.61% from the company’s current price.
The analysts wrote, “Tiffany continues to execute and the numbers are still shining. The company posted beats on all fronts in 1Q with EPS ~20c above cons, driven largely by strong comps in the Americas and Asia and GM expansion. Looking ahead the outlook is better than peers, as the company is benefiting from a strong luxury cycle and global diversification. The story here remains strong, however we remain on the sidelines given valuation. Maintain Hold rating, PT to $90.”
A number of other firms have also recently commented on TIF. Analysts at Topeka Capital Markets raised their price target on shares of Tiffany & Co. from $110.00 to $115.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Tiffany & Co. from $83.00 to $85.00 in a research note on Wednesday. They now have a “hold” rating on the stock. Finally, analysts at S&P Equity Research downgraded shares of Tiffany & Co. to a “hold” rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $91.78.
Shares of Tiffany & Co. (NYSE:TIF) traded up 0.52% on Thursday, hitting $96.80. 535,898 shares of the company’s stock traded hands. Tiffany & Co. has a 52-week low of $70.70 and a 52-week high of $97.40. The stock has a 50-day moving average of $87.90 and a 200-day moving average of $87.87. The company has a market cap of $12.472 billion and a P/E ratio of 68.30.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.78 by $0.19. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.05 million. During the same quarter last year, the company posted $0.70 earnings per share. Tiffany & Co.’s revenue was up 13.0% compared to the same quarter last year. On average, analysts predict that Tiffany & Co. will post $4.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 10th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.58%.
Tiffany & Co (NYSE:TIF) is a holding company that operates through its subsidiary companies.
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