FY2019 Earnings Estimate for Tiffany & Co. Issued By Jefferies Group (TIF)
Tiffany & Co. (NYSE:TIF) – Equities research analysts at Jefferies Group reduced their FY2019 earnings per share (EPS) estimates for Tiffany & Co. in a research note issued to investors on Thursday. Jefferies Group analyst R. Konik now anticipates that the specialty retailer will earn $4.70 per share for the year, down from their previous forecast of $4.75. Jefferies Group currently has a “Buy” rating and a $110.00 target price on the stock.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.06. Tiffany & Co. had a net margin of 11.26% and a return on equity of 15.91%. The company had revenue of $960 million during the quarter, compared to the consensus estimate of $930.19 million. During the same period last year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis.
Several other research firms have also weighed in on TIF. Royal Bank Of Canada reissued a “hold” rating on shares of Tiffany & Co. in a research note on Friday, July 7th. Bank of America Corp reissued a “buy” rating and set a $110.00 price objective on shares of Tiffany & Co. in a research note on Wednesday, June 28th. Cowen and Company reissued an “outperform” rating and set a $107.00 price objective on shares of Tiffany & Co. in a research note on Tuesday, May 23rd. BidaskClub raised shares of Tiffany & Co. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Tiffany & Co. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $82.00 to $107.00 in a research note on Friday, May 12th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $92.81.
Tiffany & Co. (NYSE TIF) traded up 0.78% during midday trading on Friday, hitting $88.23. 976,040 shares of the stock were exchanged. Tiffany & Co. has a 52 week low of $66.35 and a 52 week high of $97.29. The firm’s 50-day moving average is $91.83 and its 200 day moving average is $91.09. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 24.49 and a beta of 1.92. Tiffany & Co. also was the target of unusually large options trading activity on Wednesday. Stock traders acquired 15,818 put options on the stock. This is an increase of approximately 1,044% compared to the typical daily volume of 1,383 put options.
Several hedge funds have recently made changes to their positions in the company. Delphi Private Advisors LLC raised its stake in shares of Tiffany & Co. by 100.0% in the second quarter. Delphi Private Advisors LLC now owns 1,200 shares of the specialty retailer’s stock worth $100,000 after buying an additional 600 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Tiffany & Co. by 6.0% in the first quarter. Fifth Third Bancorp now owns 1,090 shares of the specialty retailer’s stock worth $104,000 after buying an additional 62 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Tiffany & Co. by 66.9% in the first quarter. IFP Advisors Inc now owns 1,237 shares of the specialty retailer’s stock worth $118,000 after buying an additional 496 shares in the last quarter. QS Investors LLC raised its stake in shares of Tiffany & Co. by 8.2% in the second quarter. QS Investors LLC now owns 1,363 shares of the specialty retailer’s stock worth $128,000 after buying an additional 103 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of 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 in the last quarter. 81.31% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Wednesday, September 20th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Tuesday, September 19th. Tiffany & Co.’s dividend payout ratio is presently 55.56%.
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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