Brokerages expect Tapestry Inc (NYSE:TPR) to announce earnings of $0.57 per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Tapestry’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.55. Tapestry reported earnings of $0.50 per share in the same quarter last year, which would suggest a positive year over year growth rate of 14%. The firm is expected to issue its next earnings results on Tuesday, August 21st.
According to Zacks, analysts expect that Tapestry will report full year earnings of $2.60 per share for the current financial year, with EPS estimates ranging from $2.58 to $2.63. For the next fiscal year, analysts forecast that the firm will report earnings of $2.86 per share, with EPS estimates ranging from $2.76 to $3.05. Zacks’ 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 Tuesday, May 1st. The luxury accessories retailer reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.04. Tapestry had a return on equity of 24.12% and a net margin of 6.10%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. The business’s revenue was up 32.9% on a year-over-year basis.
A number of analysts recently weighed in on TPR shares. Loop Capital started coverage on Tapestry in a research note on Thursday, March 8th. They issued a “buy” rating and a $57.00 price target on the stock. Credit Suisse Group started coverage on Tapestry in a research note on Monday, March 12th. They issued an “outperform” rating and a $60.00 price target on the stock. Citigroup restated an “outperform” rating and issued a $60.00 price target (up from $55.00) on shares of Tapestry in a research note on Thursday, March 15th. Piper Jaffray Companies set a $60.00 price target on Tapestry and gave the company a “buy” rating in a research note on Thursday, March 22nd. Finally, Robert W. Baird set a $60.00 price target on Tapestry and gave the company a “buy” rating in a research note on Monday, April 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Tapestry has an average rating of “Buy” and an average target price of $54.81.
Shares of Tapestry traded up $0.60, reaching $46.82, during trading on Thursday, MarketBeat Ratings reports. The company’s stock had a trading volume of 2,539,141 shares, compared to its average volume of 3,108,800. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.66 and a quick ratio of 1.83. Tapestry has a 12-month low of $38.70 and a 12-month high of $55.50. The company has a market cap of $13.57 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 1.61 and a beta of 0.34.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 8th will be issued a $0.338 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.89%. This is a boost from Tapestry’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, June 7th. Tapestry’s payout ratio is 62.79%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPR. BlackRock Inc. acquired a new position in shares of Tapestry in the fourth quarter worth $791,257,000. Renaissance Technologies LLC acquired a new position in Tapestry in the fourth quarter valued at $239,505,000. Bank of New York Mellon Corp acquired a new position in Tapestry in the fourth quarter valued at $145,882,000. Millennium Management LLC acquired a new position in Tapestry in the fourth quarter valued at $144,837,000. Finally, Geode Capital Management LLC acquired a new position in Tapestry in the fourth quarter valued at $134,480,000. 89.41% of the stock is owned by institutional investors.
Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.
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