Zacks: Brokerages Expect Coach, Inc. (COH) Will Post Earnings of $0.49 Per Share
Wall Street brokerages predict that Coach, Inc. (NYSE:COH) will post $0.49 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Coach’s earnings, with the lowest EPS estimate coming in at $0.41 and the highest estimate coming in at $0.51. Coach reported earnings of $0.45 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The company is expected to announce its next earnings results before the market opens on Tuesday, August 15th.
According to Zacks, analysts expect that Coach will report full year earnings of $2.15 per share for the current financial year, with EPS estimates ranging from $2.07 to $2.20. For the next year, analysts expect that the company will report earnings of $2.40 per share, with EPS estimates ranging from $2.22 to $2.59. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Coach.
Coach (NYSE:COH) last issued its earnings results on Tuesday, May 2nd. The luxury accessories retailer reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $995.20 million during the quarter, compared to analysts’ expectations of $1.02 billion. Coach had a net margin of 11.55% and a return on equity of 21.36%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Several equities analysts recently issued reports on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $42.00 target price on shares of Coach in a report on Monday, April 3rd. Instinet reissued a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Coach in a research report on Wednesday, May 3rd. BMO Capital Markets reissued a “hold” rating and set a $39.00 target price on shares of Coach in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) raised shares of Coach from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $55.00 in a research report on Tuesday, May 9th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $55.00 target price (up from $46.00) on shares of Coach in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $48.44.
Shares of Coach (NYSE:COH) opened at 48.52 on Wednesday. Coach has a 12 month low of $34.07 and a 12 month high of $48.73. The firm’s 50 day moving average is $47.05 and its 200 day moving average is $41.65. The company has a market cap of $13.64 billion, a PE ratio of 26.20 and a beta of 0.45.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 9th were issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Wednesday, June 7th. Coach’s payout ratio is presently 72.97%.
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In related news, insider Andre Cohen sold 10,087 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $45.35, for a total value of $457,445.45. Following the completion of the sale, the insider now directly owns 46,186 shares of the company’s stock, valued at $2,094,535.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Kahn sold 19,450 shares of the company’s stock in a transaction dated 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 directly owns 98,343 shares of the company’s stock, valued at $4,469,689.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,359 shares of company stock valued at $2,023,928. 0.81% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Ibex Wealth Advisors acquired a new stake in Coach during the fourth quarter worth $102,000. Tompkins Financial Corp acquired a new stake in Coach during the first quarter worth $120,000. Winslow Evans & Crocker Inc. raised its stake in Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock worth $124,000 after buying an additional 400 shares during the period. NINE MASTS CAPITAL Ltd acquired a new stake in Coach during the first quarter worth $153,000. Finally, NEXT Financial Group Inc raised its stake in Coach by 5.0% in the second quarter. NEXT Financial Group Inc now owns 4,214 shares of the luxury accessories retailer’s stock worth $199,000 after buying an additional 200 shares during the period. 88.14% of the stock is owned by institutional investors.
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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