Oppenheimer Weighs in on Tapestry Inc’s Q2 2020 Earnings (NYSE:TPR)

Tapestry Inc (NYSE:TPR) – Oppenheimer lowered their Q2 2020 EPS estimates for Tapestry in a research report issued on Tuesday, November 5th. Oppenheimer analyst B. Nagel now anticipates that the luxury accessories retailer will earn $0.96 per share for the quarter, down from their previous forecast of $1.06. Oppenheimer currently has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Tapestry’s FY2020 earnings at $2.48 EPS.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Tuesday, November 5th. The luxury accessories retailer reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. Tapestry had a net margin of 9.01% and a return on equity of 21.17%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share.

Several other brokerages also recently issued reports on TPR. Deutsche Bank set a $33.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a research report on Friday, August 16th. MKM Partners cut their price objective on shares of Tapestry from $34.00 to $22.00 and set a “market perform” rating for the company in a research report on Friday, August 16th. Telsey Advisory Group downgraded shares of Tapestry from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 15th. CIBC restated a “market perform” rating on shares of Tapestry in a research report on Friday, August 16th. Finally, Robert W. Baird set a $43.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Tapestry presently has an average rating of “Hold” and a consensus price target of $33.13.

Shares of TPR stock opened at $27.23 on Friday. The firm has a 50 day moving average price of $25.78 and a two-hundred day moving average price of $27.71. The company has a quick ratio of 1.94, a current ratio of 1.82 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $7.76 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.14 and a beta of 1.02. Tapestry has a 12-month low of $18.54 and a 12-month high of $42.75.

Several institutional investors and hedge funds have recently made changes to their positions in TPR. Financial Architects Inc increased its stake in Tapestry by 2,465.0% in the third quarter. Financial Architects Inc now owns 2,565 shares of the luxury accessories retailer’s stock valued at $67,000 after acquiring an additional 2,465 shares during the last quarter. Rational Advisors LLC increased its stake in Tapestry by 280.3% in the third quarter. Rational Advisors LLC now owns 2,468 shares of the luxury accessories retailer’s stock valued at $64,000 after acquiring an additional 1,819 shares during the last quarter. Systematic Financial Management LP increased its stake in Tapestry by 32.7% in the third quarter. Systematic Financial Management LP now owns 18,045 shares of the luxury accessories retailer’s stock valued at $470,000 after acquiring an additional 4,445 shares during the last quarter. Marble Harbor Investment Counsel LLC increased its stake in Tapestry by 16.1% in the third quarter. Marble Harbor Investment Counsel LLC now owns 79,759 shares of the luxury accessories retailer’s stock valued at $2,078,000 after acquiring an additional 11,075 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its stake in Tapestry by 5.3% in the third quarter. Ropes Wealth Advisors LLC now owns 18,264 shares of the luxury accessories retailer’s stock valued at $476,000 after acquiring an additional 925 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors.

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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