Q4 2018 EPS Estimates for Tapestry Inc Boosted by Analyst (TPR)

Tapestry Inc (NYSE:TPR) – KeyCorp boosted their Q4 2018 earnings estimates for shares of Tapestry in a research report issued to clients and investors on Tuesday. KeyCorp analyst E. Yruma now forecasts that the luxury accessories retailer will post earnings per share of $0.60 for the quarter, up from their previous forecast of $0.59. KeyCorp currently has a “Overweight” rating and a $59.00 target price on the stock.

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

Several other equities research analysts also recently weighed in on the stock. Needham & Company LLC started coverage on shares of Tapestry in a research report on Monday, December 18th. They set a “hold” rating for the company. UBS Group reduced their price target on shares of Tapestry from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Canaccord Genuity set a $58.00 price target on shares of Tapestry and gave the company a “buy” rating in a research report on Monday. Piper Jaffray Companies raised shares of Tapestry from a “neutral” rating to an “overweight” rating and set a $54.00 price target for the company in a research report on Tuesday. Finally, Zacks Investment Research downgraded shares of Tapestry from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $50.23.

Shares of Tapestry (NYSE TPR) traded down $0.68 during midday trading on Friday, hitting $48.17. 3,683,508 shares of the company’s stock were exchanged, compared to its average volume of 2,986,192. Tapestry has a fifty-two week low of $37.53 and a fifty-two week high of $50.71. The company has a market capitalization of $13,850.00, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.59. The company has a quick ratio of 1.25, a current ratio of 1.90 and a debt-to-equity ratio of 0.64.

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. purchased a new position in shares of Tapestry during the 4th quarter worth $287,354,000. Jennison Associates LLC purchased a new position in shares of Tapestry during the 4th quarter worth $181,887,000. Miller Howard Investments Inc. NY purchased a new position in shares of Tapestry during the 4th quarter worth $78,023,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Tapestry during the 4th quarter worth $77,642,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Tapestry during the 4th quarter worth $64,036,000. Institutional investors own 88.00% of the company’s stock.

WARNING: This story was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.com-unik.info/2018/02/09/q4-2018-eps-estimates-for-tapestry-inc-boosted-by-analyst-tpr.html.

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.

Earnings History and Estimates for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit