Brokerages Expect Tapestry, Inc. (TPR) to Announce $0.87 Earnings Per Share
Wall Street analysts predict that Tapestry, Inc. (NYSE:TPR) will post earnings per share of $0.87 for the current quarter, Zacks reports. Eight analysts have provided estimates for Tapestry’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.93. Tapestry reported earnings per share of $0.75 during the same quarter last year, which suggests a positive year-over-year growth rate of 16%. The firm is expected to report its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that Tapestry will report full year earnings of $2.36 per share for the current fiscal year, with EPS estimates ranging from $2.29 to $2.40. For the next financial year, analysts forecast that the business will report earnings of $2.72 per share, with EPS estimates ranging from $2.54 to $2.86. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Tapestry.
Tapestry (NYSE:TPR) last issued its quarterly earnings data on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.31 billion. Tapestry had a return on equity of 20.78% and a net margin of 9.62%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 earnings per share.
TPR has been the subject of a number of recent analyst reports. OTR Global upgraded shares of Tapestry to a “positive” rating in a research report on Friday, July 21st. Cowen and Company restated a “buy” rating and issued a $46.00 price objective on shares of Tapestry in a research report on Thursday, September 28th. Susquehanna Bancshares Inc initiated coverage on shares of Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective for the company. Credit Suisse Group restated an “outperform” rating and issued a $51.00 price objective (down previously from $55.00) on shares of Tapestry in a research report on Wednesday, August 16th. Finally, Citigroup Inc. initiated coverage on shares of Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $47.70.
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Tapestry (NYSE:TPR) opened at $40.82 on Monday. The company has a current ratio of 5.24, a quick ratio of 4.62 and a debt-to-equity ratio of 0.53. Tapestry has a twelve month low of $34.16 and a twelve month high of $48.85. The stock has a market capitalization of $11,608.19, a PE ratio of 19.16, a P/E/G ratio of 1.56 and a beta of 0.45.
In other news, CAO Todd Kahn sold 4,586 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the sale, the chief accounting officer now directly owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the sale, the senior vice president now directly owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.
An institutional investor recently bought a new position in Tapestry stock. Point View Wealth Management Inc. purchased a new position in Tapestry, Inc. (NYSE:TPR) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 13,699 shares of the luxury accessories retailer’s stock, valued at approximately $552,000. Hedge funds and other institutional investors own 86.63% of the company’s stock.
Tapestry Company Profile
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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