The analysts wrote, “Tiffany reported 1Q12 EPS of $0.64, below our $0.76 estimate on lower sales and higher SG&A. Worldwide comps sequentially decelerated in 1Q from 5% to 4% due to continued weakness in the Americas as well as slower trends in Asia. The company lowered its F2012 EPS guidance by $0.25, with $0.20 related to lower operating expectations and $0.05 related to an expected increase in debt. We are reducing our F2012 EPS estimate by $0.29 to $3.68 to reflect the miss in 1Q as well as softer sales trends in the Americas and in Europe, and are lowering our price objective to $68 from $80 to reflect our new estimates. While we are discouraged that 1Q results came in weaker than our expectations, we think the estimate reset and stock pullback presents an attractive risk/reward proposition for a long-term investor.”
TIF has been the subject of a number of other recent research reports. Analysts at Deutsche Bank (NYSE: DB) cut their price target on shares of Tiffany & Co. to $68.00 in a research note to investors on Friday. Separately, analysts at Goldman Sachs (NYSE: GS) cut their price target on shares of Tiffany & Co. to $64.00 in a research note to investors on Friday. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of Tiffany & Co. in a research note to investors on Monday. They now have a $83.00 price target on the stock.
Shares of Tiffany & Co. traded down 2.21% during mid-day trading on Friday, hitting $56.32. Tiffany & Co. has a one year low of $55.75 and a one year high of $84.49. The company has a market cap of $7.118 billion and a P/E ratio of 16.94.
Tiffany & Co. last issued its quarterly earnings data on Thursday, May 24th. The company reported $0.64 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.70 by $0.06. Tiffany & Co.’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that Tiffany & Co. will post $0.72 earnings per share next quarter.
Tiffany & Co is a holding company and conducts all business through its subsidiary companies. The Company, through its subsidiaries, including Tiffany and Company (Tiffany), sells fine jewelry and other items that it manufactures or has been made by others.