Analysts Expect Tapestry Inc (TPR) Will Announce Quarterly Sales of $1.54 Billion

Wall Street analysts expect Tapestry Inc (NYSE:TPR) to post sales of $1.54 billion for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Tapestry’s earnings, with the lowest sales estimate coming in at $1.51 billion and the highest estimate coming in at $1.57 billion. Tapestry posted sales of $1.48 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.1%. The business is scheduled to issue its next earnings report on Tuesday, August 13th.

On average, analysts expect that Tapestry will report full-year sales of $6.05 billion for the current financial year, with estimates ranging from $6.03 billion to $6.09 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $6.27 billion, with estimates ranging from $6.21 billion to $6.31 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Tapestry.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.34 billion. Tapestry had a net margin of 11.78% and a return on equity of 22.08%. Tapestry’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share.

TPR has been the topic of a number of recent analyst reports. MKM Partners cut their price target on shares of Tapestry to $52.00 in a research note on Monday, February 11th. Needham & Company LLC cut their price target on shares of Tapestry to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 8th. Guggenheim reaffirmed a “buy” rating and set a $52.00 price target on shares of Tapestry in a research note on Tuesday, January 29th. Canaccord Genuity reaffirmed a “buy” rating and set a $58.00 price target on shares of Tapestry in a research note on Tuesday, February 5th. Finally, Barclays set a $41.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research note on Saturday, February 9th. One 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. The company has a consensus rating of “Buy” and a consensus price target of $47.42.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its holdings in Tapestry by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 30,145,320 shares of the luxury accessories retailer’s stock worth $1,515,405,000 after acquiring an additional 301,169 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Tapestry by 4.6% in the 4th quarter. BlackRock Inc. now owns 22,031,923 shares of the luxury accessories retailer’s stock valued at $743,578,000 after buying an additional 964,874 shares during the period. FMR LLC boosted its holdings in shares of Tapestry by 100.4% in the 1st quarter. FMR LLC now owns 13,959,794 shares of the luxury accessories retailer’s stock valued at $453,553,000 after buying an additional 6,994,567 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Tapestry by 46.0% in the 1st quarter. Wellington Management Group LLP now owns 7,224,030 shares of the luxury accessories retailer’s stock valued at $234,709,000 after buying an additional 2,275,445 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Tapestry by 4.7% in the 1st quarter. American Century Companies Inc. now owns 6,216,778 shares of the luxury accessories retailer’s stock valued at $201,983,000 after buying an additional 280,937 shares during the period. 90.97% of the stock is owned by institutional investors and hedge funds.

NYSE:TPR traded up $0.47 during trading hours on Friday, reaching $31.19. 1,882,967 shares of the company were exchanged, compared to its average volume of 4,593,368. The company has a quick ratio of 1.86, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The company has a market cap of $8.98 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.11 and a beta of 0.70. Tapestry has a 52-week low of $29.82 and a 52-week high of $54.35.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Thursday, June 6th. Tapestry’s payout ratio is 51.33%.

Tapestry Company Profile

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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