Zacks: Analysts Anticipate Tapestry, Inc. (NYSE:TPR) to Post $0.40 EPS

Equities research analysts expect Tapestry, Inc. (NYSE:TPR – Get Rating) to post $0.40 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Tapestry’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.42. Tapestry reported earnings per share of $0.51 in the same quarter last year, which would suggest a negative year over year growth rate of 21.6%. The company is scheduled to report its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Tapestry will report full year earnings of $3.61 per share for the current financial year, with EPS estimates ranging from $3.35 to $3.70. For the next year, analysts forecast that the firm will post earnings of $4.02 per share, with EPS estimates ranging from $3.74 to $4.23. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Tapestry.

Tapestry (NYSE:TPR – Get Rating) last issued its quarterly earnings results on Thursday, February 10th. The luxury accessories retailer reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. Tapestry had a net margin of 12.85% and a return on equity of 31.10%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the company earned $1.15 EPS. Tapestry’s revenue was up 26.6% on a year-over-year basis.

A number of analysts have commented on TPR shares. Barclays upped their price objective on shares of Tapestry from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, April 19th. StockNews.com started coverage on shares of Tapestry in a research note on Thursday, March 31st. They set a “buy” rating for the company. UBS Group upped their price objective on shares of Tapestry from $44.00 to $48.00 in a research note on Friday, February 11th. Sanford C. Bernstein started coverage on shares of Tapestry in a research note on Monday, March 14th. They set an “outperform” rating and a $62.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $41.00 price objective for the company. in a research note on Wednesday, January 12th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $51.93.

Shares of NYSE TPR opened at $30.34 on Thursday. Tapestry has a twelve month low of $29.60 and a twelve month high of $49.67. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.92 and a beta of 1.39. The firm has a 50-day moving average of $35.31 and a two-hundred day moving average of $38.79.

The business also recently declared a quarterly dividend, which was paid on Monday, March 28th. Shareholders of record on Friday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, March 3rd. This represents a $1.00 annualized dividend and a yield of 3.30%. Tapestry’s dividend payout ratio (DPR) is presently 33.78%.

In related news, CEO Joanne C. Crevoiserat purchased 5,700 shares of the stock in a transaction on Friday, March 11th. The shares were bought at an average price of $34.60 per share, for a total transaction of $197,220.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TPR. Franklin Resources Inc. boosted its position in shares of Tapestry by 166.9% in the third quarter. Franklin Resources Inc. now owns 7,108,830 shares of the luxury accessories retailer’s stock valued at $263,170,000 after acquiring an additional 4,445,584 shares during the period. Norges Bank bought a new position in Tapestry in the fourth quarter worth $102,083,000. Two Sigma Investments LP lifted its position in Tapestry by 771.5% in the third quarter. Two Sigma Investments LP now owns 2,070,708 shares of the luxury accessories retailer’s stock worth $76,658,000 after purchasing an additional 1,833,105 shares during the period. Millennium Management LLC lifted its position in Tapestry by 13,214.8% in the fourth quarter. Millennium Management LLC now owns 1,542,917 shares of the luxury accessories retailer’s stock worth $62,642,000 after purchasing an additional 1,531,329 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Tapestry by 427.9% in the third quarter. Two Sigma Advisers LP now owns 1,668,080 shares of the luxury accessories retailer’s stock worth $61,752,000 after purchasing an additional 1,352,080 shares during the period. 89.75% of the stock is owned by institutional investors.

About Tapestry (Get Rating)

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers women's accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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