Zacks Investment Research lowered shares of Tiffany & Co. (NYSE:TIF) from a hold rating to a sell rating in a report published on Tuesday morning.
According to Zacks, “Tiffany has underperformed the industry in the past one month. Analysts remained concerned about the company’s top line performance that inched up 1% in the first quarter of fiscal 2017 but lagged the estimate. Sturdy sales performance in Asia-Pacific was largely offset by softness witnessed in Japan, Americas and Europe. Particularly, performance in the Americas and Europe unveils a dismal picture. Sales in Americas and Europe have declined for five straight quarters now with 3% drop recorded for each region in the first quarter. Moreover, a mature domestic market, foreign currency headwinds and cautious consumer spending remain causes of concern. Nevertheless, the company is focusing on omni-channel platform, store expansion, tapping of new markets and venturing into new revenue generating areas. Management projects mid-single-digit-percentage rise in earnings and low-single-digit percentage growth in net sales in fiscal 2017.”
Other equities research analysts have also issued reports about the company. Oppenheimer Holdings, Inc. reissued a buy rating on shares of Tiffany & Co. in a research note on Saturday, April 8th. Jefferies Group LLC reissued a buy rating and set a $110.00 price objective on shares of Tiffany & Co. in a research note on Tuesday, April 4th. Instinet raised their price objective on Tiffany & Co. from $98.00 to $102.00 and gave the stock a buy rating in a research note on Monday, March 20th. Credit Suisse Group reissued a buy rating on shares of Tiffany & Co. in a research note on Friday, April 14th. Finally, Bank of America Corporation reissued a buy rating and set a $110.00 price objective on shares of Tiffany & Co. in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $92.36.
Tiffany & Co. (NYSE TIF) traded down 0.10% during mid-day trading on Tuesday, hitting $91.81. The company had a trading volume of 283,540 shares. The firm has a market cap of $11.44 billion, a P/E ratio of 25.49 and a beta of 1.92. The stock’s 50 day moving average price is $91.35 and its 200 day moving average price is $87.67. Tiffany & Co. has a 52-week low of $58.76 and a 52-week high of $97.29.
Tiffany & Co. (NYSE:TIF) last issued its quarterly earnings results on Wednesday, May 24th. The specialty retailer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $899.60 million during the quarter, compared to analyst estimates of $915.48 million. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.26%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. On average, equities research analysts predict that Tiffany & Co. will post $3.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 10th. Stockholders of record on Tuesday, June 20th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from Tiffany & Co.’s previous quarterly dividend of $0.45. Tiffany & Co.’s payout ratio is 55.56%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its position in Tiffany & Co. by 6.0% in the first quarter. Fifth Third Bancorp now owns 1,090 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 62 shares during the period. IFP Advisors Inc boosted its position in Tiffany & Co. by 66.9% in the first quarter. IFP Advisors Inc now owns 1,237 shares of the specialty retailer’s stock valued at $118,000 after buying an additional 496 shares during the period. Macquarie Group Ltd. boosted its position in Tiffany & Co. by 325.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,700 shares of the specialty retailer’s stock valued at $132,000 after buying an additional 1,300 shares during the period. Advisory Services Network LLC bought a new position in Tiffany & Co. during the first quarter valued at $133,000. Finally, Welch Group LLC boosted its position in Tiffany & Co. by 0.6% in the first quarter. Welch Group LLC now owns 1,541 shares of the specialty retailer’s stock valued at $147,000 after buying an additional 9 shares during the period. Institutional investors own 81.01% of the company’s stock.
Tiffany & Co. Company Profile
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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