Coach Inc. (COH) to Post FY2017 Earnings of $2.23 Per Share, Wedbush Forecasts
Coach Inc. (NYSE:COH) – Stock analysts at Wedbush increased their FY2017 earnings estimates for Coach in a research note issued to investors on Friday. Wedbush analyst M. Brown now forecasts that the brokerage will post earnings of $2.23 per share for the year, up from their prior forecast of $2.21. Wedbush also issued estimates for Coach’s Q4 2017 earnings at $0.54 EPS.
A number of other equities research analysts have also issued reports on COH. Zacks Investment Research upgraded shares of Coach from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday, June 29th. Argus restated a “hold” rating on shares of Coach in a research note on Saturday, August 13th. Telsey Advisory Group upgraded shares of Coach from a “market perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a research note on Friday, August 5th. Stifel Nicolaus restated a “hold” rating on shares of Coach in a research note on Thursday, August 11th. Finally, BMO Capital Markets restated a “hold” rating and issued a $31.00 target price on shares of Coach in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $42.13.
Shares of Coach (NYSE:COH) traded down 0.95% during midday trading on Monday, reaching $36.32. 755,053 shares of the company were exchanged. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 22.01 and a beta of 0.90. The company’s 50-day moving average price is $37.19 and its 200 day moving average price is $39.39. Coach has a 52-week low of $28.70 and a 52-week high of $43.71.
Coach (NYSE:COH) last announced its quarterly earnings data on Tuesday, August 9th. The luxury accessories retailer reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04. The firm earned $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. Coach had a net margin of 10.25% and a return on equity of 21.32%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share.
A number of hedge funds have recently modified their holdings of COH. Tower Research Capital LLC TRC increased its position in Coach by 1,307.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,166 shares of the luxury accessories retailer’s stock worth $129,000 after buying an additional 2,941 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in Coach during the second quarter worth approximately $140,000. Mizuho Asset Management Co. Ltd. increased its position in Coach by 132.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,763 shares of the luxury accessories retailer’s stock worth $153,000 after buying an additional 2,146 shares during the last quarter. M&R Capital Management Inc. acquired a new position in Coach during the second quarter worth approximately $154,000. Finally, Global X Management Co. LLC increased its position in Coach by 255.6% in the second quarter. Global X Management Co. LLC now owns 4,072 shares of the luxury accessories retailer’s stock worth $166,000 after buying an additional 2,927 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, September 8th. Coach’s dividend payout ratio (DPR) is presently 81.82%.
Coach Company Profile
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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