Analysts expect Tapestry Inc (NYSE:TPR) to post $0.28 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Tapestry’s earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.42. Tapestry reported earnings of $0.42 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 33.3%. The company is expected to issue its next earnings results on Thursday, May 14th.
According to Zacks, analysts expect that Tapestry will report full-year earnings of $2.20 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.30. For the next financial year, analysts expect that the business will post earnings of $2.55 per share, with EPS estimates ranging from $2.40 to $2.86. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Tapestry.
Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.11. Tapestry had a return on equity of 21.24% and a net margin of 9.72%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the firm posted $1.07 EPS. The company’s revenue was up .8% on a year-over-year basis.
A number of equities analysts recently commented on the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $33.00 price target (up from $30.00) on shares of Tapestry in a research note on Friday, February 7th. They noted that the move was a valuation call. BMO Capital Markets assumed coverage on shares of Tapestry in a research note on Monday, February 3rd. They set a “market perform” rating and a $28.00 price target for the company. Edward Jones raised shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Wednesday, December 18th. ValuEngine raised shares of Tapestry from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Zacks Investment Research cut shares of Tapestry from a “hold” rating to a “sell” rating and set a $28.00 price target for the company. in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.48.
Shares of NYSE:TPR opened at $28.83 on Friday. Tapestry has a 52 week low of $18.54 and a 52 week high of $36.55. The stock has a market capitalization of $7.87 billion, a P/E ratio of 14.00, a PEG ratio of 1.33 and a beta of 1.04. The firm has a fifty day simple moving average of $27.54 and a two-hundred day simple moving average of $25.99. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 1.05.
In other Tapestry news, insider Sarah Dunn sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $26.78, for a total transaction of $856,960.00. Following the transaction, the insider now owns 62,131 shares in the company, valued at approximately $1,663,868.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TPR. St. Johns Investment Management Company LLC purchased a new stake in shares of Tapestry in the 3rd quarter valued at $26,000. Bourgeon Capital Management LLC purchased a new stake in shares of Tapestry in the 3rd quarter valued at $26,000. Quantbot Technologies LP purchased a new stake in shares of Tapestry in the 4th quarter valued at $52,000. FNY Investment Advisers LLC purchased a new stake in shares of Tapestry in the 4th quarter valued at $59,000. Finally, Pinnacle Financial Partners Inc. purchased a new stake in shares of Tapestry in the 4th quarter valued at $63,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.
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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