Q2 2018 EPS Estimates for Tapestry, Inc. Decreased by KeyCorp (TPR)
Tapestry, Inc. (NYSE:TPR) – Stock analysts at KeyCorp dropped their Q2 2018 earnings per share estimates for shares of Tapestry in a research note issued on Tuesday. KeyCorp analyst E. Yruma now forecasts that the luxury accessories retailer will earn $0.85 per share for the quarter, down from their previous estimate of $0.89. KeyCorp also issued estimates for Tapestry’s Q3 2018 earnings at $0.51 EPS and Q4 2018 earnings at $0.59 EPS.
Several other equities research analysts have also commented on TPR. TheStreet lowered Tapestry from a “b” rating to a “c+” rating in a research report on Tuesday. Buckingham Research increased their price objective on Tapestry from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS AG lowered their price objective on Tapestry from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday. Susquehanna Bancshares Inc began coverage on Tapestry in a research report on Thursday, November 2nd. They set a “positive” rating and a $50.00 price target for the company. Finally, Citigroup Inc. initiated coverage on Tapestry in a research note on Thursday, November 2nd. They set a “positive” rating and a $50.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $49.50.
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Shares of Tapestry (NYSE TPR) traded up $0.66 during mid-day trading on Friday, hitting $40.82. The stock had a trading volume of 3,956,206 shares, compared to its average volume of 3,355,745. Tapestry has a 12 month low of $34.16 and a 12 month high of $48.85. The company has a current ratio of 5.24, a quick ratio of 4.62 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $11,420.51, a PE ratio of 18.85, a price-to-earnings-growth ratio of 1.54 and a beta of 0.45.
Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share.
A hedge fund recently bought a new stake in Tapestry stock. LMR Partners LLP acquired a new position in Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,685 shares of the luxury accessories retailer’s stock, valued at approximately $229,000. 86.63% of the stock is currently owned by institutional investors.
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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