FY2018 Earnings Estimate for Tapestry Inc (TPR) Issued By William Blair

Tapestry Inc (NYSE:TPR) – Analysts at William Blair lifted their FY2018 earnings estimates for shares of Tapestry in a note issued to investors on Tuesday. William Blair analyst D. Carden now anticipates that the luxury accessories retailer will post earnings per share of $2.57 for the year, up from their previous forecast of $2.37. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Tapestry’s Q4 2018 earnings at $0.59 EPS, Q4 2019 earnings at $0.62 EPS and FY2019 earnings at $2.76 EPS.

Tapestry (NYSE:TPR) last posted its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The company’s revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share.

A number of other analysts have also recently weighed in on TPR. Barclays boosted their price objective on shares of Tapestry from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Piper Jaffray Companies upgraded shares of Tapestry from a “neutral” rating to an “overweight” rating and set a $54.00 target price for the company in a research note on Tuesday. BMO Capital Markets reiterated a “hold” rating on shares of Tapestry in a research note on Tuesday. TheStreet raised shares of Tapestry from a “c+” rating to a “b” rating in a report on Tuesday. Finally, ValuEngine raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Tapestry has a consensus rating of “Buy” and a consensus price target of $50.23.

Shares of Tapestry (NYSE:TPR) traded down $1.18 during trading on Thursday, hitting $47.67. 2,474,698 shares of the stock were exchanged, compared to its average volume of 2,973,833. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.25. Tapestry has a twelve month low of $37.53 and a twelve month high of $50.71. The firm has a market capitalization of $13,850.00, a PE ratio of 43.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.59.

Several large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new position in shares of Tapestry in the fourth quarter valued at $287,354,000. Jennison Associates LLC bought a new position in shares of Tapestry in the fourth quarter valued at $181,887,000. Miller Howard Investments Inc. NY bought a new position in shares of Tapestry in the fourth quarter valued at $78,023,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Tapestry in the fourth quarter valued at $77,642,000. Finally, Wells Fargo & Company MN bought a new position in shares of Tapestry in the fourth quarter valued at $64,036,000. 88.00% of the stock is owned by institutional investors and hedge funds.

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About Tapestry

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.

Earnings History and Estimates for Tapestry (NYSE:TPR)

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