Coach Trading Up 4.9% Following Better-Than-Expected Earnings (COH)
Coach (NYSE:COH)’s share price was up 4.9% on Tuesday following a stronger than expected earnings report, StockRatingsNetwork.com reports. The stock traded as high as $36.27 and last traded at $35.99, with a volume of 9,680,061 shares trading hands. The stock had previously closed at $34.31.
The company reported $0.59 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.06. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 29th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 3.93%.
A number of research firms have recently commented on COH. Analysts at Canaccord Genuity raised their price target on shares of Coach from $35.00 to $37.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Separately, analysts at Buckingham Research downgraded shares of Coach from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 9th. They now have a $28.00 price target on the stock, down previously from $32.00. Finally, analysts at Credit Suisse cut their price target on shares of Coach from $39.00 to $30.00 in a research note on Thursday, July 3rd. They now have a “hold” rating on the stock. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.11.
The stock has a 50-day moving average of $34.93 and a 200-day moving average of $43.5. The company has a market cap of $9.782 billion and a price-to-earnings ratio of 10.46. Coach also was the recipient of unusually large options trading on Monday. Investors acquired 9,422 call options on the stock. This is an increase of 128% compared to the typical volume of 4,125 call options.
Coach, Inc (NYSE:COH) is a marketer of accessories and gifts for women and men.
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