Zacks: Brokerages Anticipate Coach, Inc. (COH) Will Post Quarterly Sales of $1.30 Billion
Wall Street brokerages expect that Coach, Inc. (NYSE:COH) will post sales of $1.30 billion for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Coach’s earnings. The highest sales estimate is $1.34 billion and the lowest is $1.27 billion. Coach reported sales of $1.04 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The firm is scheduled to issue its next earnings results on Tuesday, November 7th.
On average, analysts expect that Coach will report full year sales of $1.30 billion for the current financial year, with estimates ranging from $5.80 billion to $5.91 billion. For the next fiscal year, analysts expect that the business will post sales of $6.08 billion per share, with estimates ranging from $5.98 billion to $6.17 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Coach.
Coach (NYSE:COH) last issued its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Coach had a net margin of 13.17% and a return on equity of 21.31%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS.
COH has been the topic of several research analyst reports. Vetr cut Coach from a “hold” rating to a “sell” rating and set a $45.98 price objective on the stock. in a research note on Monday, August 7th. UBS AG reduced their price objective on Coach from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. MKM Partners initiated coverage on Coach in a research note on Monday, July 10th. They set a “buy” rating and a $50.00 price objective on the stock. Canaccord Genuity initiated coverage on Coach in a research note on Friday, June 30th. They set a “buy” rating and a $59.00 price objective on the stock. Finally, Cowen and Company restated a “buy” rating and set a $46.00 price objective on shares of Coach in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $47.06.
In related news, CAO Todd Kahn sold 4,586 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was 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 in the company, valued at approximately $2,958,030.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Melinda Brown sold 8,250 shares of the business’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 value of $340,560.00. Following the completion of the sale, the senior vice president now owns 42,884 shares of the company’s stock, valued at $1,770,251.52. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Airain ltd bought a new position in Coach in the 2nd quarter worth approximately $1,036,000. JPMorgan Chase & Co. increased its position in Coach by 294.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,216,832 shares of the luxury accessories retailer’s stock worth $57,607,000 after buying an additional 908,228 shares during the period. Neuberger Berman Group LLC increased its position in Coach by 128.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 206,741 shares of the luxury accessories retailer’s stock worth $9,787,000 after buying an additional 116,072 shares during the period. Capital Analysts LLC bought a new position in Coach in the 2nd quarter worth approximately $1,062,000. Finally, Sequoia Financial Advisors LLC increased its position in Coach by 9.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 83,255 shares of the luxury accessories retailer’s stock worth $3,941,000 after buying an additional 7,168 shares during the period. Hedge funds and other institutional investors own 86.32% of the company’s stock.
Shares of Coach (COH) opened at 39.83 on Monday. The stock has a market cap of $11.26 billion, a P/E ratio of 19.06 and a beta of 0.44. Coach has a 52-week low of $34.07 and a 52-week high of $48.85. The company has a 50-day moving average of $40.72 and a 200 day moving average of $43.56.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were issued a dividend of $0.3375 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.39%. Coach’s dividend payout ratio is 64.59%.
Coach Company Profile
Coach, Inc (Coach) is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. Its segments include North America, International and Stuart Weitzman. The North America segment includes sales of Coach brand products to North American customers through Coach-operated stores (including the Internet) and sales to North American wholesale customers.
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