Jefferies Financial Group Comments on Tapestry Inc’s Q3 2019 Earnings (TPR)

Tapestry Inc (NYSE:TPR) – Equities researchers at Jefferies Financial Group lowered their Q3 2019 EPS estimates for shares of Tapestry in a report issued on Thursday, February 7th. Jefferies Financial Group analyst R. Konik now expects that the luxury accessories retailer will earn $0.40 per share for the quarter, down from their prior estimate of $0.55. Jefferies Financial Group also issued estimates for Tapestry’s Q4 2019 earnings at $0.62 EPS, Q1 2020 earnings at $0.52 EPS, Q2 2020 earnings at $1.15 EPS, Q4 2020 earnings at $0.68 EPS and FY2021 earnings at $3.07 EPS.

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

Several other equities research analysts have also recently issued reports on the stock. MKM Partners lowered their price objective on shares of Tapestry to $52.00 in a research report on Monday. Barclays set a $41.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research report on Saturday. Macquarie set a $40.00 price objective on shares of Tapestry and gave the company a “hold” rating in a research report on Friday. Cowen lowered their price objective on shares of Tapestry from $62.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday. They noted that the move was a valuation call. Finally, Needham & Company LLC lowered their price objective on shares of Tapestry to $42.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the stock. Tapestry has a consensus rating of “Buy” and an average target price of $50.00.

Tapestry stock opened at $34.65 on Monday. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.94. Tapestry has a 1 year low of $31.91 and a 1 year high of $55.50.

Several large investors have recently bought and sold shares of the company. Moody National Bank Trust Division raised its holdings in shares of Tapestry by 21.2% in the 4th quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 366 shares in the last quarter. ETF Managers Group LLC raised its holdings in shares of Tapestry by 18.0% in the 4th quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock valued at $85,000 after purchasing an additional 384 shares in the last quarter. E&G Advisors LP raised its holdings in shares of Tapestry by 8.5% in the 4th quarter. E&G Advisors LP now owns 6,400 shares of the luxury accessories retailer’s stock valued at $216,000 after purchasing an additional 500 shares in the last quarter. Roanoke Asset Management Corp NY raised its holdings in shares of Tapestry by 1.3% in the 4th quarter. Roanoke Asset Management Corp NY now owns 45,929 shares of the luxury accessories retailer’s stock valued at $1,550,000 after purchasing an additional 590 shares in the last quarter. Finally, Securian Asset Management Inc raised its holdings in shares of Tapestry by 2.1% in the 4th quarter. Securian Asset Management Inc now owns 29,816 shares of the luxury accessories retailer’s stock valued at $1,006,000 after purchasing an additional 612 shares in the last quarter. Institutional investors and hedge funds 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.

Featured Article: Candlestick

Earnings History and Estimates for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply