$1.30 Billion in Sales Expected for Coach, Inc. (COH) This Quarter
Wall Street analysts expect Coach, Inc. (NYSE:COH) to announce sales of $1.30 billion for the current quarter, according to Zacks. Eight analysts have provided estimates for Coach’s earnings, with the highest sales estimate coming in at $1.34 billion and the lowest estimate coming in at $1.27 billion. Coach posted sales of $1.04 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The company is expected to issue its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Coach will report full-year sales of $1.30 billion for the current financial year, with estimates ranging from $5.80 billion to $5.91 billion. For the next financial year, analysts forecast that the company will post sales of $6.08 billion per share, with estimates ranging from $5.97 billion to $6.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Coach.
Coach (NYSE:COH) last posted its earnings results on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.15 billion. Coach had a return on equity of 21.31% and a net margin of 13.17%. Coach’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share.
Several equities research analysts have recently issued reports on COH shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $47.00 price objective on shares of Coach in a research report on Monday, May 8th. Vetr lowered shares of Coach from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a research note on Monday, May 8th. Nomura restated a “buy” rating and issued a $45.00 price objective on shares of Coach in a research note on Tuesday, May 9th. Instinet restated a “buy” rating and issued a $55.00 price objective on shares of Coach in a research note on Tuesday, May 9th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $50.00 price target (up from $47.00) on shares of Coach in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.92.
Coach (NYSE COH) opened at 41.97 on Friday. The firm has a market capitalization of $11.86 billion, a P/E ratio of 20.08 and a beta of 0.44. The stock’s 50 day moving average price is $45.21 and its 200-day moving average price is $43.24. Coach has a 12 month low of $34.07 and a 12 month high of $48.85.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a $0.3375 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.22%. Coach’s dividend payout ratio is presently 64.59%.
In related news, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total transaction of $187,338.10. Following the transaction, the chief accounting officer now owns 72,412 shares in the company, valued at approximately $2,958,030.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.81% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Point View Wealth Management Inc. boosted its stake in Coach by 5.2% in the first quarter. Point View Wealth Management Inc. now owns 15,075 shares of the luxury accessories retailer’s stock worth $623,000 after buying an additional 746 shares during the last quarter. Insight 2811 Inc. increased its position in Coach by 10.0% in the first quarter. Insight 2811 Inc. now owns 26,862 shares of the luxury accessories retailer’s stock worth $1,110,000 after buying an additional 2,441 shares during the period. Daiwa Securities Group Inc. increased its position in Coach by 12.9% in the first quarter. Daiwa Securities Group Inc. now owns 29,700 shares of the luxury accessories retailer’s stock worth $1,228,000 after buying an additional 3,400 shares during the period. DekaBank Deutsche Girozentrale increased its position in Coach by 21.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 72,311 shares of the luxury accessories retailer’s stock worth $3,040,000 after buying an additional 12,795 shares during the period. Finally, Greatmark Investment Partners Inc. increased its position in Coach by 2.2% in the first quarter. Greatmark Investment Partners Inc. now owns 79,465 shares of the luxury accessories retailer’s stock worth $3,284,000 after buying an additional 1,730 shares during the period. 86.34% of the stock is owned by institutional investors.
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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