Tiffany & Co. (TIF) Announces Earnings Results, Beats Expectations By $0.06 EPS
Tiffany & Co. (NYSE:TIF) announced its earnings results on Friday. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The firm earned $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Tiffany & Co. had a return on equity of 15.97% and a net margin of 11.33%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. Tiffany & Co. updated its FY18 guidance to MSD to $3.94 EPS.
Shares of Tiffany & Co. (NYSE:TIF) opened at 93.83 on Tuesday. The stock’s 50 day moving average price is $85.64 and its 200 day moving average price is $78.42. Tiffany & Co. has a 12-month low of $56.99 and a 12-month high of $94.65. The firm has a market cap of $11.68 billion, a PE ratio of 26.28 and a beta of 1.89.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Monday, March 20th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, March 16th. Tiffany & Co.’s payout ratio is 50.42%.
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In other Tiffany & Co. news, insider Andrew W. Hart sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $77.98, for a total value of $106,598.66. Following the completion of the sale, the insider now directly owns 4,654 shares in the company, valued at $362,918.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew W. Hart sold 21,504 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $80.13, for a total value of $1,723,115.52. Following the completion of the sale, the insider now owns 7,786 shares of the company’s stock, valued at $623,892.18. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TIF. Kentucky Retirement Systems purchased a new stake in Tiffany & Co. during the second quarter worth $565,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Tiffany & Co. during the second quarter worth $268,000. Williams Jones & Associates LLC increased its stake in Tiffany & Co. by 298.8% in the second quarter. Williams Jones & Associates LLC now owns 4,850 shares of the company’s stock worth $294,000 after buying an additional 3,634 shares during the period. Carnick & Kubik Group LLC purchased a new stake in Tiffany & Co. during the second quarter worth $206,000. Finally, Evercore Wealth Management LLC increased its stake in Tiffany & Co. by 3.4% in the second quarter. Evercore Wealth Management LLC now owns 10,925 shares of the company’s stock worth $662,000 after buying an additional 364 shares during the period. Hedge funds and other institutional investors own 86.38% of the company’s stock.
A number of analysts have weighed in on the company. Citigroup Inc increased their price objective on Tiffany & Co. from $81.00 to $91.00 and gave the stock a “neutral” rating in a research report on Monday. Telsey Advisory Group decreased their price objective on Tiffany & Co. from $110.00 to $93.00 and set an “outperform” rating for the company in a research report on Monday. William Blair raised Tiffany & Co. from a “market perform” rating to an “outperform” rating in a research report on Monday. Cowen and Company increased their price objective on Tiffany & Co. from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Instinet increased their price objective on Tiffany & Co. from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $88.34.
About Tiffany & Co.
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (Tiffany), is a jeweler and specialty retailer. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO. retail stores. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other.
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