Tapestry (TPR) Set to Announce Earnings on Thursday

Tapestry (NYSE:TPR) will issue its quarterly earnings data before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $0.67 per share for the quarter. Tapestry has set its FY24 guidance at $4.20-$4.25 EPS and its FY 2024 guidance at 4.200-4.250 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, beating the consensus estimate of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts expect Tapestry to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Tapestry Price Performance

NYSE:TPR opened at $38.99 on Wednesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The firm’s fifty day moving average price is $43.95 and its two-hundred day moving average price is $38.62. Tapestry has a one year low of $25.99 and a one year high of $48.80. The company has a market cap of $8.94 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.81 and a beta of 1.61.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.59%. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Raymond James upped their price target on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research note on Wednesday, March 27th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Thursday, February 29th. OTR Global reiterated a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $47.81.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.