Wall Street analysts expect that Tapestry Inc (NYSE:TPR) will report $1.86 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Tapestry’s earnings, with the lowest sales estimate coming in at $1.83 billion and the highest estimate coming in at $1.89 billion. Tapestry reported sales of $1.79 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, February 5th.
On average, analysts expect that Tapestry will report full year sales of $6.16 billion for the current fiscal year, with estimates ranging from $6.13 billion to $6.21 billion. For the next financial year, analysts forecast that the company will post sales of $6.42 billion, with estimates ranging from $6.37 billion to $6.51 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Tapestry.
Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, October 30th. The luxury accessories retailer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Tapestry had a net margin of 9.00% and a return on equity of 24.73%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm posted $0.42 EPS. Tapestry’s revenue for the quarter was up 7.2% compared to the same quarter last year.
Several equities research analysts have issued reports on TPR shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $59.00 target price on shares of Tapestry in a research note on Thursday, August 16th. Bank of America boosted their price objective on shares of Tapestry from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. Loop Capital set a $59.00 price objective on shares of Tapestry and gave the company a “buy” rating in a report on Tuesday, August 14th. Canaccord Genuity reiterated a “buy” rating and set a $63.00 price target on shares of Tapestry in a research note on Monday, October 29th. Finally, ValuEngine lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $53.07.
Tapestry stock opened at $35.34 on Friday. Tapestry has a 1 year low of $35.16 and a 1 year high of $55.50. The firm has a market capitalization of $11.08 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.83 and a current ratio of 2.74.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be paid a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Thursday, December 6th. This is an increase from Tapestry’s previous quarterly dividend of $0.34. Tapestry’s dividend payout ratio is 51.33%.
A number of institutional investors have recently bought and sold shares of TPR. Stratos Wealth Partners LTD. bought a new stake in Tapestry during the 3rd quarter worth approximately $145,000. Twin Tree Management LP boosted its position in Tapestry by 128.9% in the 2nd quarter. Twin Tree Management LP now owns 3,394 shares of the luxury accessories retailer’s stock valued at $159,000 after buying an additional 15,144 shares during the last quarter. NEXT Financial Group Inc acquired a new position in shares of Tapestry in the 3rd quarter valued at $179,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Tapestry in the 3rd quarter valued at $201,000. Finally, Bray Capital Advisors lifted its stake in shares of Tapestry by 100.0% in the 3rd quarter. Bray Capital Advisors now owns 4,000 shares of the luxury accessories retailer’s stock valued at $201,000 after purchasing an additional 2,000 shares during the period. 89.26% of the stock is owned by hedge funds and other institutional investors.
Tapestry Company Profile
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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