Credit Agricole SA Comments on Tiffany & Co.’s Q3 2017 Earnings (TIF)
Tiffany & Co. (NYSE:TIF) – Analysts at Credit Agricole SA issued their Q3 2017 earnings per share (EPS) estimates for Tiffany & Co. in a report issued on Tuesday. Credit Agricole SA analyst R. Patel anticipates that the brokerage will post earnings of $0.69 per share for the quarter. Credit Agricole SA has a “Outperform” rating and a $80.00 price target on the stock. Credit Agricole SA also issued estimates for Tiffany & Co.’s Q4 2017 earnings at $1.51 EPS and FY2019 earnings at $4.31 EPS.
Tiffany & Co. (NYSE:TIF) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. The firm earned $932 million during the quarter, compared to analyst estimates of $931.37 million. Tiffany & Co. had a return on equity of 15.90% and a net margin of 11.26%. Tiffany & Co.’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share.
Other analysts have also issued research reports about the stock. Jefferies Group reaffirmed a “buy” rating on shares of Tiffany & Co. in a report on Thursday, July 14th. Mizuho raised their price objective on shares of Tiffany & Co. from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Nomura set a $76.00 price objective on shares of Tiffany & Co. and gave the stock a “buy” rating in a report on Monday, August 29th. Bank of America Corp. set a $75.00 price objective on shares of Tiffany & Co. and gave the stock a “buy” rating in a report on Thursday, September 22nd. Finally, Guggenheim assumed coverage on shares of Tiffany & Co. in a report on Friday. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $78.88.
Tiffany & Co. (NYSE:TIF) traded up 1.77% during trading on Friday, hitting $72.63. The stock had a trading volume of 1,233,266 shares. The company has a market cap of $9.07 billion, a PE ratio of 20.72 and a beta of 2.06. Tiffany & Co. has a 52 week low of $56.99 and a 52 week high of $84.19. The stock has a 50-day moving average price of $70.39 and a 200-day moving average price of $67.02.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC increased its position in shares of Tiffany & Co. by 261.2% in the second quarter. First Eagle Investment Management LLC now owns 3,876,154 shares of the company’s stock worth $235,050,000 after buying an additional 2,803,126 shares during the last quarter. International Value Advisers LLC acquired a new stake in shares of Tiffany & Co. during the second quarter worth approximately $67,971,000. Victory Capital Management Inc. boosted its stake in shares of Tiffany & Co. by 80.2% in the second quarter. Victory Capital Management Inc. now owns 1,444,603 shares of the company’s stock worth $87,600,000 after buying an additional 642,759 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Tiffany & Co. during the second quarter worth approximately $30,028,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Tiffany & Co. during the first quarter worth approximately $28,486,000. 85.66% of the stock is currently owned by institutional investors and hedge funds.
In other Tiffany & Co. news, insider Jean-Marc Bellaiche sold 775 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $61.78, for a total transaction of $47,879.50. Following the transaction, the insider now directly owns 2,179 shares of the company’s stock, valued at approximately $134,618.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Philippe Galtie sold 482 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $72.01, for a total transaction of $34,708.82. Following the transaction, the senior vice president now directly owns 670 shares in the company, valued at $48,246.70. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Tuesday, September 20th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, September 16th. Tiffany & Co.’s payout ratio is 51.28%.
About Tiffany & Co.
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO. retail stores. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other.
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