FY2017 Earnings Estimate for Coach Inc Issued By Jefferies Group (COH)
Coach Inc (NYSE:COH) – Stock analysts at Jefferies Group lowered their FY2017 EPS estimates for shares of Coach in a report issued on Friday. Jefferies Group analyst R. Konik now anticipates that the luxury accessories retailer will post earnings per share of $2.16 for the year, down from their previous estimate of $2.17. Jefferies Group has a “Buy” rating and a $53.00 price objective on the stock.
Coach (NYSE:COH) last announced its quarterly earnings data on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The company had revenue of $995.20 million during the quarter, compared to the consensus estimate of $1.02 billion. Coach had a net margin of 11.24% and a return on equity of 21.66%. Coach’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. ILLEGAL ACTIVITY WARNING: “FY2017 Earnings Estimate for Coach Inc Issued By Jefferies Group (COH)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/05/22/fy2017-earnings-estimate-for-coach-inc-issued-by-jefferies-group-coh.html.
Several other brokerages also recently issued reports on COH. BMO Capital Markets set a $42.00 price target on shares of Coach and gave the company a “hold” rating in a report on Tuesday, May 2nd. Nomura reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Coach in a report on Tuesday, May 9th. Credit Suisse Group AG set a $55.00 price objective on shares of Coach and gave the stock a “buy” rating in a report on Tuesday, May 9th. William Blair reaffirmed an “outperform” rating on shares of Coach in a report on Wednesday, February 1st. Finally, Vetr raised shares of Coach from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Coach has a consensus rating of “Buy” and a consensus price target of $46.36.
Coach (NYSE:COH) opened at 45.32 on Monday. The firm’s 50-day moving average is $41.62 and its 200-day moving average is $38.37. Coach has a 12 month low of $34.07 and a 12 month high of $46.56. The stock has a market cap of $12.74 billion, a P/E ratio of 24.47 and a beta of 0.49.
Large investors have recently made changes to their positions in the company. World Asset Management Inc raised its position in shares of Coach by 2.3% in the third quarter. World Asset Management Inc now owns 30,142 shares of the luxury accessories retailer’s stock worth $1,102,000 after buying an additional 672 shares during the period. Virginia Retirement Systems ET AL acquired a new position in shares of Coach during the third quarter worth approximately $2,208,000. Nordea Investment Management AB raised its position in shares of Coach by 5.0% in the third quarter. Nordea Investment Management AB now owns 244,719 shares of the luxury accessories retailer’s stock worth $8,947,000 after buying an additional 11,609 shares during the period. LMR Partners LLP raised its position in shares of Coach by 74.8% in the third quarter. LMR Partners LLP now owns 44,710 shares of the luxury accessories retailer’s stock worth $1,635,000 after buying an additional 19,136 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Coach by 3.0% in the third quarter. Jennison Associates LLC now owns 5,726,225 shares of the luxury accessories retailer’s stock worth $209,351,000 after buying an additional 166,859 shares during the period. 87.23% of the stock is owned by hedge funds and other institutional investors.
In other Coach news, CAO Todd Kahn sold 19,450 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $45.45, for a total transaction of $884,002.50. Following the completion of the sale, the chief accounting officer now owns 98,343 shares of the company’s stock, valued at $4,469,689.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andre Cohen sold 10,087 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $45.35, for a total value of $457,445.45. Following the sale, the insider now directly owns 46,186 shares of the company’s stock, valued at approximately $2,094,535.10. The disclosure for this sale can be found here. Insiders have sold 33,776 shares of company stock valued at $1,536,400 in the last ninety days. Company insiders own 0.81% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Friday, June 9th will be given a dividend of $0.3375 per share. The ex-dividend date is Wednesday, June 7th. This represents a $1.35 dividend on an annualized basis and a yield of 2.98%. Coach’s payout ratio is currently 74.18%.
Coach Company Profile
Coach, Inc (Coach) is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. Its segments include North America, International and Stuart Weitzman. The North America segment includes sales of Coach brand products to North American customers through Coach-operated stores (including the Internet) and sales to North American wholesale customers.
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