Tiffany & Co. (NYSE:TIF) last released its earnings results on Tuesday, November 24th.
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Net earnings for the third-quarter significantly increased to $91 million, or $0.70 per share, from $38.3 million, or $0.29 per share in the prior year. Analyst had a consensus of $0.75 EPS. Analysts on average had expected revenue to rise 1.2 percent to $971 million. The company’s revenue was down -2.2% compared to the same quarter previous year. During the same period in the prior year, the business posted $0.76 earnings per share.
During the third quarter, Tiffany repurchased roughly $60 million in shares leaving approximately $157 million in the repurchase authorization. (NYSE:TIF) which led to swings in the share price.
Hewlett-Packard Company (NYSE:HPQ) traded down 15.57% during mid-day trading on Monday, hitting $12.36. Option exercises are not covered. Vetr upgraded Tiffany & Co. from a “buy” rating to a “strong-buy” rating and set a $104.68 price target on the stock in a research note on Thursday, August 6th. In the past twelve weeks, the net percent change held by company insiders has changed by 14.52%. Wells Fargo began coverage on Tiffany & Co.in a report on Thursday, October 22nd.
The company now projects adjusted net earnings for the year ending January 31, 2016 to be 5 percent to 10 percent below last year’s $4.20 per share. 5,347,503 shares of the stock were exchanged. The earnings report after that one will be on March 18, 2016, and the report for the fiscal year will be made available on March 18, 2016.
Tiffany & Co. has a 1-year low of $73.09 and a 1-year high of $109.00. The company has a market cap of $9.69 billion. The $96.70 average target is 26.47% above today’s ($76.46) stock price. The primary factors that have impacted our rating are mixed – some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The FactSet consensus is for full-year EPS of $4.02. On average, analysts forecast that Tiffany & Co. will post $4.04 EPS for the current fiscal year.
On a constant-currency basis, comparable sales rose 1 percent.
HP INC, formerly Hewlett-Packard Company (NYSE:HPQ), is a global provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including customers in the government, health and education sectors.
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Cumenal, who became CEO in April, is trying to build brand loyalty with a line of luxury watches and is pushing Tiffany into new markets through collaborations.
