Tapestry, Inc. (TPR) Posts Earnings Results, Beats Expectations By $0.06 EPS
Tapestry, Inc. (NYSE:TPR) posted its quarterly earnings results on Tuesday. The luxury accessories retailer reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06, Briefing.com reports. Tapestry had a net margin of 13.17% and a return on equity of 21.31%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. Tapestry updated its FY18 guidance to $2.35-2.40 EPS.
Shares of Tapestry (TPR) traded up $0.33 during trading hours on Tuesday, hitting $41.48. 6,014,082 shares of the company’s stock were exchanged, compared to its average volume of 3,070,000. The company has a quick ratio of 4.62, a current ratio of 5.24 and a debt-to-equity ratio of 0.53. The stock has a market cap of $12,000.00, a PE ratio of 19.05, a P/E/G ratio of 1.58 and a beta of 0.45. Tapestry has a 1-year low of $34.16 and a 1-year high of $48.85.
Several equities research analysts recently issued reports on TPR shares. Citigroup Inc. started coverage on shares of Tapestry in a report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 target price on the stock. Susquehanna Bancshares Inc started coverage on shares of Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price target on the stock.
Tapestry Company Profile
Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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