Tapestry (NYSE:TPR) Announces Earnings Results

Tapestry (NYSE:TPR) announced its quarterly earnings data on Tuesday. The luxury accessories retailer reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03, Briefing.com reports. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Tapestry had a net margin of 9.01% and a return on equity of 21.17%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share.

Shares of TPR traded up $0.16 during midday trading on Friday, reaching $27.23. The stock had a trading volume of 5,127,064 shares, compared to its average volume of 4,901,814. The firm has a 50 day simple moving average of $25.75 and a 200-day simple moving average of $27.74. Tapestry has a one year low of $18.54 and a one year high of $42.75. The firm has a market cap of $7.76 billion, a PE ratio of 10.60, a P/E/G ratio of 1.14 and a beta of 1.02. The company has a current ratio of 1.82, a quick ratio of 1.94 and a debt-to-equity ratio of 1.15.

Several research firms have weighed in on TPR. Goldman Sachs Group lowered shares of Tapestry from a “buy” rating to a “neutral” rating and cut their target price for the stock from $43.00 to $24.00 in a report on Friday, August 16th. Piper Jaffray Companies lowered shares of Tapestry from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $40.00 to $23.00 in a report on Friday, August 16th. Oppenheimer lowered shares of Tapestry from an “outperform” rating to a “market perform” rating in a report on Friday, August 16th. KeyCorp cut their target price on shares of Tapestry from $42.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, Bank of America set a $28.00 target price on shares of Tapestry and gave the stock a “buy” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have assigned a buy rating to the stock. Tapestry has a consensus rating of “Hold” and an average target price of $33.13.

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 for Tapestry (NYSE:TPR)

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