Tiffany & Co. (NYSE:TIF) issued its earnings results on Friday, March 16th. The specialty retailer reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.04, Bloomberg Earnings reports. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. Tiffany & Co. had a net margin of 8.87% and a return on equity of 16.32%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 earnings per share. Tiffany & Co. updated its FY19 guidance to $4.25-4.45 EPS.
Shares of Tiffany & Co. stock traded down $2.54 during midday trading on Friday, hitting $95.58. The company had a trading volume of 2,686,836 shares, compared to its average volume of 2,425,521. The company has a market cap of $12,194.10, a price-to-earnings ratio of 23.14, a PEG ratio of 2.01 and a beta of 1.77. The company has a current ratio of 5.50, a quick ratio of 2.39 and a debt-to-equity ratio of 0.27. Tiffany & Co. has a 1-year low of $84.15 and a 1-year high of $111.44.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Tuesday, March 20th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.09%. Tiffany & Co.’s payout ratio is 48.43%.
In other Tiffany & Co. news, Director Abby F. Kohnstamm sold 10,000 shares of Tiffany & Co. stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $108.73, for a total transaction of $1,087,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Philippe Galtie sold 673 shares of Tiffany & Co. stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $107.92, for a total value of $72,630.16. Following the completion of the transaction, the insider now directly owns 673 shares of the company’s stock, valued at $72,630.16. The disclosure for this sale can be found here. In the last 90 days, insiders bought 77,000 shares of company stock worth $7,437,830 and sold 139,636 shares worth $14,979,843. Company insiders own 1.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in TIF. Victory Capital Management Inc. increased its position in Tiffany & Co. by 12.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,534,545 shares of the specialty retailer’s stock worth $263,466,000 after purchasing an additional 287,224 shares during the period. Investec Asset Management LTD increased its position in Tiffany & Co. by 6.4% in the fourth quarter. Investec Asset Management LTD now owns 2,436,956 shares of the specialty retailer’s stock worth $253,322,000 after purchasing an additional 146,663 shares during the period. Cramer Rosenthal Mcglynn LLC increased its position in Tiffany & Co. by 13.8% in the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,491,675 shares of the specialty retailer’s stock worth $155,060,000 after purchasing an additional 181,093 shares during the period. Janus Henderson Group PLC increased its position in Tiffany & Co. by 22.9% in the third quarter. Janus Henderson Group PLC now owns 1,490,254 shares of the specialty retailer’s stock worth $136,776,000 after purchasing an additional 277,753 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in Tiffany & Co. by 73.7% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,476,404 shares of the specialty retailer’s stock worth $153,472,000 after purchasing an additional 626,533 shares during the period. 83.27% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on TIF. Citigroup raised shares of Tiffany & Co. from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $115.00 in a report on Thursday, December 14th. JPMorgan Chase assumed coverage on shares of Tiffany & Co. in a report on Monday, December 18th. They set a “neutral” rating and a $103.00 target price on the stock. Credit Suisse Group started coverage on shares of Tiffany & Co. in a research report on Monday, March 12th. They set an “outperform” rating and a $120.00 price target for the company. Wells Fargo set a $96.00 target price on shares of Tiffany & Co. and gave the company a “hold” rating in a research report on Thursday, January 11th. Finally, Oppenheimer restated a “buy” rating on shares of Tiffany & Co. in a research report on Wednesday, January 24th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $107.47.
COPYRIGHT VIOLATION WARNING: “Tiffany & Co. (TIF) Announces Quarterly Earnings Results” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/04/07/tiffany-co-tif-announces-quarterly-earnings-results-beats-expectations-by-0-04-eps.html.
Tiffany & Co. Company Profile
Tiffany & Co, through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The company offers jewelry collections, engagement rings, and wedding bands. It also sells timepieces, leather goods, sterling silver goods, china, crystal, stationery, eyewear, fragrances, and other accessories; and wholesales diamonds and earnings.
Receive News & Ratings for Tiffany & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tiffany & Co. and related companies with MarketBeat.com's FREE daily email newsletter.