Tapestry (NYSE:TPR) Issues Q4 2021 Earnings Guidance

Tapestry (NYSE:TPR) issued an update on its fourth quarter 2021 earnings guidance on Friday morning. The company provided EPS guidance of – for the period. The company issued revenue guidance of $1.50 billion-$1.50 billion, compared to the consensus revenue estimate of $1.47 billion.

Shares of NYSE:TPR traded up $1.51 during trading on Friday, hitting $46.82. 2,997,415 shares of the stock traded hands, compared to its average volume of 4,205,563. The company has a quick ratio of 1.12, a current ratio of 1.56 and a debt-to-equity ratio of 0.63. The company has a market cap of $13.06 billion, a price-to-earnings ratio of -29.26, a P/E/G ratio of 1.28 and a beta of 1.33. The company has a fifty day moving average price of $45.00 and a two-hundred day moving average price of $36.28. Tapestry has a 52-week low of $11.68 and a 52-week high of $49.67.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 6th. The luxury accessories retailer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.21. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.20 billion. Tapestry had a negative net margin of 9.22% and a positive return on equity of 11.91%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.27) EPS. On average, equities research analysts predict that Tapestry will post 2.27 EPS for the current fiscal year.

A number of research firms recently issued reports on TPR. KeyCorp lifted their price target on shares of Tapestry from $38.00 to $41.00 and gave the company an overweight rating in a research note on Friday, February 5th. Cowen lifted their price target on shares of Tapestry from $40.00 to $42.00 and gave the company an outperform rating in a research note on Thursday, January 28th. Citigroup lifted their price target on shares of Tapestry from $36.00 to $40.00 in a research note on Monday, February 8th. Barclays lifted their price target on shares of Tapestry from $39.00 to $44.00 and gave the company an overweight rating in a research note on Friday, February 5th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tapestry from $45.00 to $54.00 and gave the company a buy rating in a research note on Monday, May 3rd. Seven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $38.52.

In related news, Director Ivan Menezes sold 5,438 shares of the business’s stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of $43.04, for a total value of $234,051.52. Following the sale, the director now directly owns 37,079 shares in the company, valued at approximately $1,595,880.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, Other Asia, and internationally. The company operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers women's accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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Earnings History and Estimates for Tapestry (NYSE:TPR)

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