Tiffany & Co. (TIF) Posts Earnings Results, Beats Expectations By $0.06 EPS
Tiffany & Co. (NYSE:TIF) issued its quarterly earnings data on Thursday. The specialty retailer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06, MarketWatch Earnings reports. The firm had revenue of $960 million during the quarter, compared to analysts’ expectations of $930.19 million. Tiffany & Co. had a return on equity of 15.91% and a net margin of 11.26%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS.
Shares of Tiffany & Co. (TIF) opened at 88.72 on Thursday. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 24.63 and a beta of 1.92. Tiffany & Co. has a one year low of $66.35 and a one year high of $97.29. The firm has a 50-day moving average price of $91.98 and a 200 day moving average price of $91.11. Tiffany & Co. also saw some unusual options trading on Wednesday. Stock traders acquired 15,818 put options on the company. This is an increase of approximately 1,044% compared to the average volume of 1,383 put options.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Wednesday, September 20th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 19th. Tiffany & Co.’s payout ratio is currently 55.56%.
Several large investors have recently added to or reduced their stakes in TIF. Macquarie Group Ltd. boosted its stake in Tiffany & Co. by 325.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,700 shares of the specialty retailer’s stock worth $132,000 after buying an additional 1,300 shares during the period. Bank of Montreal Can boosted its stake in Tiffany & Co. by 49.6% in the first quarter. Bank of Montreal Can now owns 59,412 shares of the specialty retailer’s stock worth $5,662,000 after buying an additional 19,692 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Tiffany & Co. during the first quarter worth $248,000. State of Alaska Department of Revenue acquired a new stake in Tiffany & Co. during the first quarter worth $497,000. Finally, Retirement Systems of Alabama boosted its stake in Tiffany & Co. by 2.0% in the first quarter. Retirement Systems of Alabama now owns 51,736 shares of the specialty retailer’s stock worth $4,930,000 after buying an additional 1,005 shares during the period. 81.31% of the stock is currently owned by institutional investors.
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A number of equities research analysts recently weighed in on TIF shares. Goldman Sachs Group, Inc. (The) upgraded Tiffany & Co. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $82.00 to $107.00 in a research note on Friday, May 12th. Bank of America Corporation reiterated a “buy” rating and issued a $110.00 price target on shares of Tiffany & Co. in a research note on Wednesday, June 28th. Cowen and Company reiterated an “outperform” rating and issued a $107.00 price target on shares of Tiffany & Co. in a research note on Tuesday, May 23rd. Zacks Investment Research cut Tiffany & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $92.81.
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. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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