Tapestry Inc (TPR) Expected to Post Quarterly Sales of $1.77 Billion

Equities analysts expect that Tapestry Inc (NYSE:TPR) will report $1.77 billion in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Tapestry’s earnings, with estimates ranging from $1.74 billion to $1.79 billion. Tapestry posted sales of $1.32 billion during the same quarter last year, which suggests a positive year over year growth rate of 34.1%. The business is scheduled to issue its next earnings results on Tuesday, January 30th.

According to Zacks, analysts expect that Tapestry will report full-year sales of $1.77 billion for the current fiscal year, with estimates ranging from $5.74 billion to $5.90 billion. For the next financial year, analysts expect that the firm will report sales of $6.04 billion per share, with estimates ranging from $5.90 billion to $6.11 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Tapestry.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS.

A number of equities analysts recently issued reports on TPR shares. Buckingham Research set a $48.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a research report on Friday, October 6th. Susquehanna Bancshares started coverage on shares of Tapestry in a research report on Thursday, November 2nd. They set a “positive” rating and a $50.00 price objective for the company. Cowen reiterated a “buy” rating and set a $46.00 price objective on shares of Tapestry in a research report on Thursday, September 28th. William Blair reiterated a “buy” rating on shares of Tapestry in a research report on Saturday, October 21st. Finally, Citigroup started coverage on shares of Tapestry in a research report on Thursday, November 2nd. They set a “positive” rating and a $50.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Tapestry currently has an average rating of “Buy” and an average price target of $47.73.

Large investors have recently bought and sold shares of the company. M&R Capital Management Inc. bought a new stake in shares of Tapestry in the 3rd quarter valued at $153,000. LMR Partners LLP bought a new stake in shares of Tapestry in the 3rd quarter valued at $229,000. Point View Wealth Management Inc. bought a new stake in shares of Tapestry in the 3rd quarter valued at $552,000. Hefty Wealth Partners bought a new stake in shares of Tapestry in the 4th quarter valued at $932,000. Finally, New Mexico Educational Retirement Board bought a new stake in shares of Tapestry in the 3rd quarter valued at $1,051,000. 87.63% of the stock is currently owned by institutional investors.

Tapestry (NYSE TPR) traded down $0.07 during mid-day trading on Thursday, reaching $45.20. 1,946,995 shares of the company were exchanged, compared to its average volume of 2,003,933. The firm has a market cap of $12,840.00, a PE ratio of 28.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.46. Tapestry has a twelve month low of $34.33 and a twelve month high of $48.85. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.25 and a current ratio of 1.74.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were issued a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Thursday, December 7th. Tapestry’s payout ratio is 83.85%.

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About Tapestry

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

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Earnings History and Estimates for Tapestry (NYSE:TPR)

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