Zacks: Brokerages Expect Tapestry Inc (TPR) Will Announce Earnings of $0.86 Per Share

Analysts predict that Tapestry Inc (NYSE:TPR) will announce earnings per share of $0.86 for the current quarter, Zacks reports. Eight analysts have made estimates for Tapestry’s earnings, with the highest EPS estimate coming in at $0.87 and the lowest estimate coming in at $0.85. Tapestry reported earnings per share of $0.75 during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.7%. The business is expected to report its next earnings report on Tuesday, January 30th.

According to Zacks, analysts expect that Tapestry will report full-year earnings of $2.37 per share for the current year, with EPS estimates ranging from $2.34 to $2.40. For the next fiscal year, analysts anticipate that the company will report earnings of $2.72 per share, with EPS estimates ranging from $2.54 to $2.86. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Tapestry.

Tapestry (NYSE:TPR) last announced its earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. The business’s revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS.

TPR has been the topic of several recent research reports. Consumer Edge cut shares of Tapestry from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 11th. Sanford C. Bernstein initiated coverage on shares of Tapestry in a research report on Tuesday, September 12th. They set an “outperform” rating and a $51.00 target price on the stock. William Blair restated a “buy” rating on shares of Tapestry in a research report on Saturday, October 21st. Citigroup initiated coverage on shares of Tapestry in a research report on Thursday, November 2nd. They set a “positive” rating and a $50.00 target price on the stock. Finally, Wolfe Research cut shares of Tapestry from an “outperform” rating to a “peer perform” rating and decreased their target price for the company from $51.00 to $42.00 in a research report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $47.70.

Shares of Tapestry (TPR) traded up $0.66 during midday trading on Friday, hitting $43.49. 4,921,900 shares of the stock traded hands, compared to its average volume of 3,378,879. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.74 and a quick ratio of 1.25. The stock has a market cap of $12,179.79, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.61 and a beta of 0.46. Tapestry has a 52-week low of $34.16 and a 52-week high of $48.85.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be paid a dividend of $0.3375 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.10%. Tapestry’s dividend payout ratio is presently 83.85%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&R Capital Management Inc. bought a new position in shares of Tapestry during the third quarter valued at approximately $153,000. LMR Partners LLP acquired a new stake in Tapestry in the third quarter valued at approximately $229,000. Point View Wealth Management Inc. acquired a new stake in Tapestry in the third quarter valued at approximately $552,000. New Mexico Educational Retirement Board acquired a new stake in Tapestry in the third quarter valued at approximately $1,051,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Tapestry in the third quarter valued at approximately $4,916,000. Hedge funds and other institutional investors own 87.63% of the company’s stock.

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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.

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Earnings History and Estimates for Tapestry (NYSE:TPR)

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