Tapestry (TPR) Set to Announce Earnings on Thursday

Tapestry (NYSE:TPR) will be issuing 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 announced its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business 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 business earned $1.36 EPS. Tapestry’s revenue was up 2.5% compared to the same quarter last year. On average, analysts expect Tapestry to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Tapestry Trading Down 1.1 %

TPR stock opened at $39.48 on Thursday. The business has a fifty day moving average price of $44.80 and a 200 day moving average price of $38.25. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. Tapestry has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 0.84 and a beta of 1.57.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.35 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.55%. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TPR. Telsey Advisory Group reissued an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a report on Wednesday, March 27th. Raymond James raised their price target on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $50.00 in a report on Monday, February 5th. OTR Global reissued a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group upped their price target on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.