Tapestry Inc (TPR) Expected to Announce Earnings of $0.44 Per Share

Wall Street analysts forecast that Tapestry Inc (NYSE:TPR) will announce earnings of $0.44 per share for the current quarter, according to Zacks. Nine analysts have issued estimates for Tapestry’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.42. Tapestry reported earnings of $0.42 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The firm is scheduled to report its next quarterly earnings results on Tuesday, November 6th.

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

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, August 14th. The luxury accessories retailer reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. The firm 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%. Tapestry’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS.

Several analysts recently commented on TPR shares. Goldman Sachs Group set a $61.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research note on Wednesday, August 15th. Wells Fargo & Co reiterated a “buy” rating on shares of Tapestry in a report on Tuesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, August 15th. Canaccord Genuity boosted their target price on shares of Tapestry from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, August 15th. Finally, Loop Capital set a $59.00 target price on shares of Tapestry and gave the company a “buy” rating in a report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. Tapestry presently has a consensus rating of “Buy” and an average target price of $57.38.

Shares of TPR stock traded up $0.27 during mid-day trading on Wednesday, hitting $48.23. The stock had a trading volume of 137,658 shares, compared to its average volume of 3,001,810. Tapestry has a fifty-two week low of $38.72 and a fifty-two week high of $55.50. The stock has a market capitalization of $14.48 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.55 and a beta of 0.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.87 and a current ratio of 2.59.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 7th were given a dividend of $0.3375 per share. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $1.35 dividend on an annualized basis and a yield of 2.80%. Tapestry’s dividend payout ratio (DPR) is 51.33%.

In other Tapestry news, Director Ivan Menezes sold 2,068 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $50.70, for a total transaction of $104,847.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ian Bickley sold 48,071 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $52.13, for a total transaction of $2,505,941.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,602 shares of company stock worth $2,633,939. 0.98% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in TPR. Stratos Wealth Partners LTD. bought a new stake in Tapestry during the first quarter valued at $155,000. Natixis Advisors L.P. grew its position in shares of Tapestry by 7.1% during the first quarter. Natixis Advisors L.P. now owns 18,630 shares of the luxury accessories retailer’s stock worth $980,000 after acquiring an additional 1,236 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Tapestry by 0.6% during the first quarter. Russell Investments Group Ltd. now owns 659,320 shares of the luxury accessories retailer’s stock worth $34,655,000 after acquiring an additional 4,081 shares during the last quarter. State of Tennessee Treasury Department grew its position in shares of Tapestry by 103.1% during the first quarter. State of Tennessee Treasury Department now owns 250,137 shares of the luxury accessories retailer’s stock worth $13,160,000 after acquiring an additional 126,984 shares during the last quarter. Finally, Pitcairn Co. bought a new position in shares of Tapestry during the first quarter worth about $201,000. Hedge funds and other institutional investors own 90.53% of the company’s stock.

Tapestry Company Profile

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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