Q1 2018 Earnings Estimate for Coach, Inc. (COH) Issued By KeyCorp
Coach, Inc. (NYSE:COH) – Analysts at KeyCorp lowered their Q1 2018 earnings estimates for Coach in a note issued to investors on Tuesday. KeyCorp analyst E. Yruma now forecasts that the luxury accessories retailer will earn $0.35 per share for the quarter, down from their prior forecast of $0.50.
A number of other equities analysts have also commented on COH. UBS AG reiterated a “buy” rating and issued a $55.00 price objective (up from $49.00) on shares of Coach in a research note on Thursday, May 25th. OTR Global upgraded Coach to a “positive” rating in a research note on Friday, July 21st. Deutsche Bank AG reiterated a “hold” rating and issued a $40.00 price objective (up from $39.00) on shares of Coach in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Coach in a research note on Tuesday, July 4th. Finally, Piper Jaffray Companies lifted their price objective on Coach from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $47.92.
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Shares of Coach (COH) traded down 0.95% during midday trading on Friday, reaching $40.61. The company’s stock had a trading volume of 502,293 shares. Coach has a 12 month low of $34.07 and a 12 month high of $48.85. The stock has a market capitalization of $11.43 billion, a P/E ratio of 19.43 and a beta of 0.45. The stock’s 50-day moving average is $46.99 and its 200 day moving average is $42.92.
Coach (NYSE:COH) last issued its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Coach had a return on equity of 21.31% and a net margin of 13.17%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm earned $0.45 EPS. Coach’s quarterly revenue was down 1.8% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Coach during the second quarter valued at approximately $115,000. Dupont Capital Management Corp acquired a new position in shares of Coach during the second quarter valued at approximately $118,000. Winslow Evans & Crocker Inc. increased its position in shares of Coach by 18.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock valued at $124,000 after buying an additional 400 shares during the last quarter. NINE MASTS CAPITAL Ltd acquired a new position in shares of Coach during the first quarter valued at approximately $153,000. Finally, Seven Eight Capital LP acquired a new position in shares of Coach during the second quarter valued at approximately $188,000. 88.44% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Sarah Dunn sold 7,595 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $46.07, for a total value of $349,901.65. Following the transaction, the insider now directly owns 74,627 shares of the company’s stock, valued at approximately $3,438,065.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andre Cohen sold 2,988 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $46.06, for a total value of $137,627.28. Following the completion of the transaction, the insider now directly owns 43,198 shares in the company, valued at $1,989,699.88. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, September 7th. Coach’s payout ratio is currently 64.59%.
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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