Tiffany & Co. (TIF) Forecasted to Earn Q4 2018 Earnings of $1.54 Per Share
Tiffany & Co. (NYSE:TIF) – Equities research analysts at Jefferies Group lowered their Q4 2018 earnings per share estimates for shares of Tiffany & Co. in a report released on Wednesday. Jefferies Group analyst R. Konik now forecasts that the specialty retailer will earn $1.54 per share for the quarter, down from their previous estimate of $1.57. Jefferies Group has a “Buy” rating and a $110.00 price objective on the stock. Jefferies Group also issued estimates for Tiffany & Co.’s FY2019 earnings at $4.55 EPS.
Several other research analysts have also commented on the company. Oppenheimer reaffirmed a “buy” rating on shares of Tiffany & Co. in a research report on Friday, September 8th. Goldman Sachs Group lowered Tiffany & Co. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $106.00 to $94.00 in a research report on Friday, September 22nd. Zacks Investment Research lowered Tiffany & Co. from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Susquehanna Bancshares started coverage on Tiffany & Co. in a research report on Thursday, November 2nd. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Cowen set a $102.00 price target on Tiffany & Co. and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Tiffany & Co. has a consensus rating of “Hold” and a consensus target price of $96.75.
Tiffany & Co. (NYSE:TIF) last released its quarterly earnings results on Wednesday, November 29th. The specialty retailer reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. The company had revenue of $976.20 million for the quarter, compared to analyst estimates of $957.18 million. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.41%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share.
Hedge funds have recently made changes to their positions in the stock. QS Investors LLC grew its holdings in Tiffany & Co. by 8.2% during the second quarter. QS Investors LLC now owns 1,363 shares of the specialty retailer’s stock worth $128,000 after acquiring an additional 103 shares during the period. Welch Group LLC grew its holdings in Tiffany & Co. by 0.5% during the second quarter. Welch Group LLC now owns 1,549 shares of the specialty retailer’s stock worth $145,000 after acquiring an additional 8 shares during the period. Wetherby Asset Management Inc. acquired a new position in Tiffany & Co. during the second quarter worth $201,000. Commerce Bank acquired a new position in Tiffany & Co. during the second quarter worth $209,000. Finally, Pacer Advisors Inc. grew its holdings in Tiffany & Co. by 8.3% during the second quarter. Pacer Advisors Inc. now owns 2,267 shares of the specialty retailer’s stock worth $213,000 after acquiring an additional 174 shares during the period. 81.03% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Robert S. Singer bought 1,000 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were acquired at an average price of $88.13 per share, with a total value of $88,130.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Qatar Investment Authority sold 4,400,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $94.16, for a total value of $414,304,000.00. The disclosure for this sale can be found here. In the last three months, insiders bought 51,000 shares of company stock worth $4,617,630. Corporate insiders own 1.30% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 20th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, December 19th. Tiffany & Co.’s payout ratio is currently 54.35%.
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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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