Tapestry (TPR) Issues FY 2019 Earnings Guidance

Share on StockTwits

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.

The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 7th were issued a dividend of $0.3375 per share. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $1.35 annualized dividend and a yield of 3.14%. Tapestry’s dividend payout ratio (DPR) is currently 51.33%.

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.

Featured Story: Balance Sheet

Earnings History and Estimates for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply