Tapestry (TPR) Set to Announce Earnings on Thursday

Tapestry (NYSE:TPR) is scheduled to be announcing its earnings results 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.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Tapestry (NYSE:TPR) last issued its quarterly 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. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. Tapestry’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. On average, analysts expect Tapestry to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Tapestry Stock Down 1.2 %

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

Tapestry Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Evercore ISI upgraded shares of Tapestry from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $30.00 to $50.00 in a report on Monday, February 5th. Wells Fargo & Company lifted their price target on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. The Goldman Sachs Group lifted their target price on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 9th. Telsey Advisory Group restated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a report on Wednesday, March 27th. Finally, OTR Global restated a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.81.

About Tapestry

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.