Coach Inc. (NYSE:COH) – Research analysts at Wedbush upped their FY2017 earnings per share (EPS) estimates for Coach in a research report issued on Friday. Wedbush analyst M. Brown now forecasts that the brokerage will post earnings per share of $2.23 for the year, up from their previous forecast of $2.21. Wedbush also issued estimates for Coach’s Q4 2017 earnings at $0.54 EPS.
Coach (NYSE:COH) last issued its earnings results on Tuesday, August 9th. The luxury accessories retailer reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. Coach had a net margin of 10.25% and a return on equity of 21.32%. The business earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis.
Several other equities analysts also recently issued reports on the stock. Wells Fargo & Co. reissued an “outperform” rating and set a $47.00 price target on shares of Coach in a report on Wednesday, October 5th. Guggenheim began coverage on shares of Coach in a report on Friday, September 30th. They set a “buy” rating and a $50.00 price target for the company. Credit Agricole SA began coverage on shares of Coach in a research note on Wednesday, September 28th. They set a “buy” rating and a $45.00 price objective on the stock. Piper Jaffray Cos. set a $46.00 price objective on shares of Coach and gave the company a “buy” rating in a research note on Monday, September 19th. Finally, Morgan Stanley cut shares of Coach from an “equal weight” rating to an “underweight” rating and set a $32.00 price objective on the stock. in a research note on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $42.13.
Coach (NYSE:COH) opened at 36.50 on Monday. Coach has a one year low of $28.70 and a one year high of $43.71. The firm has a market cap of $10.18 billion, a PE ratio of 22.12 and a beta of 0.90. The stock has a 50 day moving average of $37.29 and a 200 day moving average of $39.40.
Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new stake in shares of Coach during the second quarter valued at approximately $48,321,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Coach during the first quarter valued at approximately $45,839,000. FMR LLC boosted its stake in shares of Coach by 6.9% in the second quarter. FMR LLC now owns 14,358,797 shares of the luxury accessories retailer’s stock valued at $584,978,000 after buying an additional 927,743 shares during the last quarter. Janus Capital Management LLC boosted its stake in shares of Coach by 1,271.3% in the second quarter. Janus Capital Management LLC now owns 970,227 shares of the luxury accessories retailer’s stock valued at $39,527,000 after buying an additional 899,476 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Coach by 3.2% in the second quarter. Vanguard Group Inc. now owns 24,943,401 shares of the luxury accessories retailer’s stock valued at $1,016,194,000 after buying an additional 778,882 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were given a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Thursday, September 8th. Coach’s dividend payout ratio (DPR) is 81.82%.
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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