Tapestry (TPR) Set to Announce Earnings on Thursday

Tapestry (NYSE:TPR) will post its quarterly earnings results before the market opens on Thursday, May 9th. Analysts expect Tapestry to post earnings of $0.67 per share for the quarter. Tapestry has set its FY24 guidance at $4.20-$4.25 EPS and its FY 2024 guidance at 4.200-4.250 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. Tapestry’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. On average, analysts expect Tapestry to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Tapestry Price Performance

Tapestry stock opened at $39.48 on Tuesday. The company has a market capitalization of $9.06 billion, a PE ratio of 9.97, a P/E/G ratio of 0.81 and a beta of 1.61. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average price of $44.12 and a two-hundred day moving average price of $38.55. Tapestry has a 12 month low of $25.99 and a 12 month high of $48.80.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.35 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.55%. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TPR. Raymond James raised their price target on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. The Goldman Sachs Group boosted their price target on shares of Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $30.00 to $50.00 in a report on Monday, February 5th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a research note on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.81.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.