Tiffany & Co. (NYSE:TIF) was downgraded by Credit Agricole from an “outperform” rating to an “underperform” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports.
Shares of Tiffany & Co. (NYSE:TIF) opened at 80.82 on Wednesday. Tiffany & Co. has a 1-year low of $55.83 and a 1-year high of $83.33. The stock has a 50-day moving average of $79.83 and a 200-day moving average of $74.17. The company has a market cap of $10.311 billion and a price-to-earnings ratio of 24.79. Tiffany & Co. also was the recipient of unusually large options trading on Monday. Stock traders acquired 9,431 call options on the stock. This represents an increase of 390% compared to the typical volume of 1,923 call options.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings results on Tuesday, August 27th. The company reported $0.83 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $0.09. The company had revenue of $926.00 million for the quarter, compared to the consensus estimate of $941.37 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts predict that Tiffany & Co. will post $3.53 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. downgraded shares of Tiffany & Co. from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. Separately, analysts at Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Tiffany & Co. in a research note to investors on Tuesday. They now have a $84.00 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Tiffany & Co. from $54.00 to $57.00 in a research note to investors on Tuesday. They now have a “sell” rating on the stock.
Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $76.00.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 10th. Investors of record on Friday, September 20th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, September 18th.
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (NYSE:TIF), is a jeweler and specialty retailer whose principal merchandise offering is jewelry.
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