Tapestry Inc (TPR) Expected to Announce Quarterly Sales of $1.34 Billion

Brokerages expect Tapestry Inc (NYSE:TPR) to report sales of $1.34 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Tapestry’s earnings, with estimates ranging from $1.32 billion to $1.37 billion. Tapestry posted sales of $1.32 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The company is scheduled to report its next earnings report on Tuesday, May 7th.

On average, analysts expect that Tapestry will report full-year sales of $6.07 billion for the current fiscal year, with estimates ranging from $6.03 billion to $6.16 billion. For the next financial year, analysts expect that the company will post sales of $6.30 billion, with estimates ranging from $6.19 billion to $6.46 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Tapestry.

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

Several research analysts have issued reports on TPR shares. Guggenheim restated a “buy” rating and set a $52.00 target price on shares of Tapestry in a research report on Tuesday, January 29th. Wells Fargo & Co dropped their target price on Tapestry from $58.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, January 2nd. Canaccord Genuity restated a “buy” rating and set a $58.00 target price on shares of Tapestry in a research report on Tuesday, February 5th. Barclays upgraded Tapestry from an “equal weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research report on Friday, January 11th. Finally, Macquarie set a $40.00 target price on Tapestry and gave the company a “hold” rating in a research report on Friday, February 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $50.00.

Shares of NYSE:TPR opened at $33.39 on Tuesday. Tapestry has a 1 year low of $30.69 and a 1 year high of $55.50. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.46.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio is presently 51.33%.

Several institutional investors have recently bought and sold shares of TPR. Norges Bank bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $99,566,000. Boston Partners bought a new position in Tapestry in the fourth quarter worth approximately $64,406,000. D. E. Shaw & Co. Inc. raised its stake in Tapestry by 765.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,902,983 shares of the luxury accessories retailer’s stock worth $64,225,000 after buying an additional 1,682,982 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its stake in Tapestry by 44.0% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 4,262,677 shares of the luxury accessories retailer’s stock worth $143,865,000 after buying an additional 1,302,103 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Tapestry by 1,484.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock worth $36,000 after buying an additional 1,136,452 shares in the last quarter. 90.85% of the stock is owned by hedge funds and other 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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