Tapestry (NYSE:TPR) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.75-2.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.78. The company issued revenue guidance of $6.1-6.2 billion, compared to the consensus revenue estimate of $6.16 billion.Tapestry also updated its FY19 guidance to $2.75-2.80 EPS.
Shares of NYSE:TPR traded up $2.66 during mid-day trading on Wednesday, reaching $42.98. The stock had a trading volume of 295,635 shares, compared to its average volume of 3,467,889. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.26 and a beta of 0.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 1.87. Tapestry has a twelve month low of $39.28 and a twelve month high of $55.50.
Tapestry (NYSE:TPR) last announced its quarterly earnings results on Tuesday, October 30th. The luxury accessories retailer reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. Tapestry had a net margin of 6.76% and a return on equity of 24.76%. Tapestry’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Equities research analysts expect that Tapestry will post 2.77 earnings per share for the current year.
Several analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $50.00 to $54.00 and gave the stock a neutral rating in a report on Wednesday, August 15th. Goldman Sachs Group set a $61.00 target price on Tapestry and gave the stock a buy rating in a research report on Wednesday, August 15th. Wells Fargo & Co restated a buy rating on shares of Tapestry in a research report on Tuesday, August 14th. Canaccord Genuity lifted their price target on Tapestry from $55.00 to $63.00 and gave the company an outperform rating in a research report on Wednesday, August 15th. Finally, Loop Capital set a $59.00 price target on Tapestry and gave the company a buy rating in a research report on Tuesday, August 14th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $54.77.
In other Tapestry news, insider Ian Bickley sold 48,071 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $52.13, for a total transaction of $2,505,941.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ivan Menezes sold 2,068 shares of the stock in a transaction on Friday, August 31st. The shares were sold at an average price of $50.70, for a total value of $104,847.60. The disclosure for this sale can be found here. Insiders have sold a total of 50,602 shares of company stock worth $2,633,939 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
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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