Tiffany & Co. Plans Quarterly Dividend of $0.50 (TIF)
Tiffany & Co. (NYSE:TIF) declared a quarterly dividend on Thursday, August 17th, RTT News reports. Investors of record on Wednesday, September 20th will be paid a dividend of 0.50 per share by the specialty retailer on Tuesday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.24%.
Tiffany & Co. has raised its dividend by an average of 8.8% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Tiffany & Co. has a payout ratio of 50.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tiffany & Co. to earn $4.30 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 46.5%.
Shares of Tiffany & Co. (TIF) traded down 0.06% during trading on Thursday, hitting $89.33. 130,723 shares of the company were exchanged. The stock has a market cap of $11.13 billion, a P/E ratio of 24.80 and a beta of 1.92. The company’s 50-day moving average price is $92.68 and its 200 day moving average price is $90.77. Tiffany & Co. has a 12 month low of $66.19 and a 12 month high of $97.29.
Tiffany & Co. (NYSE:TIF) last released its quarterly earnings results on Wednesday, May 24th. The specialty retailer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.91%. The company had revenue of $899.60 million for the quarter, compared to the consensus estimate of $915.48 million. During the same period in the previous year, the firm earned $0.64 EPS. Tiffany & Co.’s revenue was up .9% on a year-over-year basis. On average, equities analysts predict that Tiffany & Co. will post $3.96 earnings per share for the current fiscal year.
A number of analysts recently commented on TIF shares. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $104.00 target price on shares of Tiffany & Co. in a report on Thursday, June 1st. Bank of America Corporation reiterated a “buy” rating and issued a $110.00 target price on shares of Tiffany & Co. in a report on Wednesday, May 10th. Zacks Investment Research upgraded shares of Tiffany & Co. from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $88.00 target price (down from $93.00) on shares of Tiffany & Co. in a report on Thursday, May 25th. Finally, BidaskClub upgraded shares of Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $92.81.
Tiffany & Co. Company Profile
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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