Analysts Expect Tapestry Inc (TPR) Will Post Earnings of $0.44 Per Share

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Wall Street analysts expect that Tapestry Inc (NYSE:TPR) will post earnings per share of $0.44 for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Tapestry’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.42. Tapestry posted earnings per share of $0.42 in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Tapestry will report full-year earnings of $2.77 per share for the current fiscal year, with EPS estimates ranging from $2.71 to $2.85. For the next financial year, analysts expect that the firm will report earnings of $3.05 per share, with EPS estimates ranging from $2.90 to $3.18. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Tapestry.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, August 14th. The luxury accessories retailer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Tapestry had a net margin of 6.76% and a return on equity of 24.76%. The business’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share.

TPR has been the subject of a number of analyst reports. Goldman Sachs Group set a $61.00 price objective on shares of Tapestry and gave the company a “buy” rating in a report on Wednesday, August 15th. Canaccord Genuity reduced their price objective on shares of Tapestry to $55.00 and set a “buy” rating for the company in a report on Monday, August 13th. KeyCorp lifted their price objective on shares of Tapestry from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Tapestry from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Finally, Piper Jaffray Companies set a $58.00 price objective on shares of Tapestry and gave the company a “buy” rating in a report on Thursday, August 2nd. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Tapestry has a consensus rating of “Buy” and a consensus price target of $56.16.

Shares of NYSE TPR opened at $42.51 on Friday. The stock has a market cap of $12.74 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.36 and a beta of 0.43. Tapestry has a 1 year low of $39.60 and a 1 year high of $55.50. The company has a quick ratio of 1.87, a current ratio of 2.59 and a debt-to-equity ratio of 0.49.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 7th were issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Thursday, September 6th. Tapestry’s dividend payout ratio (DPR) is presently 51.33%.

In related news, insider Ian Bickley sold 48,071 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $52.13, for a total transaction of $2,505,941.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ivan Menezes sold 2,068 shares of the business’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $50.70, for a total transaction of $104,847.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,602 shares of company stock worth $2,633,939. 0.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio boosted its holdings in Tapestry by 6.8% during the third quarter. Strs Ohio now owns 48,897 shares of the luxury accessories retailer’s stock worth $2,458,000 after purchasing an additional 3,107 shares during the last quarter. Seven Eight Capital LP bought a new stake in Tapestry in the third quarter worth about $6,821,000. Oakbrook Investments LLC raised its position in Tapestry by 185.2% in the third quarter. Oakbrook Investments LLC now owns 32,860 shares of the luxury accessories retailer’s stock worth $1,652,000 after acquiring an additional 21,340 shares during the period. Aperio Group LLC raised its position in Tapestry by 9.4% in the third quarter. Aperio Group LLC now owns 182,408 shares of the luxury accessories retailer’s stock worth $9,170,000 after acquiring an additional 15,620 shares during the period. Finally, First American Bank bought a new stake in Tapestry in the third quarter worth about $1,953,000. Institutional investors and hedge funds own 90.04% of the company’s stock.

About Tapestry

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

See Also: Dividend Aristocrat Index

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Earnings History and Estimates for Tapestry (NYSE:TPR)

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