Tapestry (TPR) Announces Earnings Results, Beats Estimates By $0.21 EPS

Tapestry (NYSE:TPR) announced its earnings results on Tuesday. The luxury accessories retailer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21, Bloomberg Earnings reports. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business posted $0.75 EPS. Tapestry’s revenue for the quarter was up 35.1% on a year-over-year basis. Tapestry updated its FY18 guidance to $2.52-2.60 EPS.

Tapestry (NYSE:TPR) traded down $1.25 during mid-day trading on Thursday, reaching $48.85. The company’s stock had a trading volume of 8,124,009 shares, compared to its average volume of 2,610,000. The company has a quick ratio of 1.25, a current ratio of 1.90 and a debt-to-equity ratio of 0.64. The firm has a market cap of $13,890.00, a price-to-earnings ratio of 43.62, a P/E/G ratio of 1.75 and a beta of 0.59. Tapestry has a 52 week low of $36.69 and a 52 week high of $50.71.

Several hedge funds and other institutional investors have recently modified their holdings of the company. New Mexico Educational Retirement Board raised its position in shares of Tapestry by 4.2% during the 4th quarter. New Mexico Educational Retirement Board now owns 27,198 shares of the luxury accessories retailer’s stock worth $1,203,000 after acquiring an additional 1,100 shares in the last quarter. Hexavest Inc. acquired a new stake in shares of Tapestry during the 4th quarter worth about $106,000. First Dallas Securities Inc. acquired a new stake in shares of Tapestry during the 4th quarter worth about $108,000. Dupont Capital Management Corp acquired a new stake in shares of Tapestry during the 4th quarter worth about $110,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Tapestry during the 4th quarter worth about $118,000. 88.00% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently commented on TPR. Canaccord Genuity set a $58.00 target price on Tapestry and gave the company a “buy” rating in a report on Sunday, January 7th. Buckingham Research raised their target price on Tapestry from $55.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup began coverage on Tapestry in a report on Thursday, November 2nd. They set a “positive” rating and a $50.00 target price for the company. BMO Capital Markets raised their target price on Tapestry from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Cowen restated a “buy” rating and set a $54.00 target price on shares of Tapestry in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Tapestry currently has an average rating of “Buy” and a consensus target price of $50.23.

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About Tapestry

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

Earnings History for Tapestry (NYSE:TPR)

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