KeyCorp Analysts Cut Earnings Estimates for Tapestry Inc (TPR)

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Tapestry Inc (NYSE:TPR) – Investment analysts at KeyCorp dropped their Q4 2019 EPS estimates for shares of Tapestry in a report released on Thursday, February 7th. KeyCorp analyst E. Yruma now forecasts that the luxury accessories retailer will post earnings of $0.62 per share for the quarter, down from their prior estimate of $0.68. KeyCorp has a “Overweight” rating and a $42.00 price objective on the stock. KeyCorp also issued estimates for Tapestry’s Q1 2020 earnings at $0.56 EPS, Q2 2020 earnings at $1.16 EPS, Q3 2020 earnings at $0.47 EPS and Q4 2020 earnings at $0.69 EPS.

TPR has been the topic of several other reports. Zacks Investment Research reiterated a “buy” rating and set a $45.00 target price on shares of Tapestry in a research report on Saturday, November 17th. Barclays upgraded shares of Tapestry from an “equal weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research report on Friday, January 11th. Nomura set a $50.00 target price on shares of Tapestry and gave the company a “buy” rating in a research report on Monday, November 26th. Wells Fargo & Co decreased their target price on shares of Tapestry from $58.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 2nd. Finally, Buckingham Research decreased their target price on shares of Tapestry from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.00.

Shares of Tapestry stock opened at $34.65 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.94 and a debt-to-equity ratio of 0.46. Tapestry has a twelve month low of $31.91 and a twelve month high of $55.50. The stock has a market cap of $9.82 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year.

Large investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its position in Tapestry by 1,484.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock valued at $36,000 after buying an additional 1,136,452 shares in the last quarter. Pearl River Capital LLC bought a new position in shares of Tapestry in the fourth quarter worth about $66,000. Moody National Bank Trust Division raised its stake in shares of Tapestry by 21.2% in the fourth quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 366 shares during the last quarter. ETF Managers Group LLC raised its stake in shares of Tapestry by 18.0% in the fourth quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock worth $85,000 after acquiring an additional 384 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Tapestry in the fourth quarter worth about $105,000. Hedge funds and other institutional investors own 89.62% 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.

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Earnings History and Estimates for Tapestry (NYSE:TPR)

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