Tapestry (NYSE:TPR) Releases FY 2024 Earnings Guidance

Tapestry (NYSE:TPRGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.200-4.250 for the period, compared to the consensus estimate of 4.220. The company issued revenue guidance of $6.6 billion-, compared to the consensus revenue estimate of $6.7 billion. Tapestry also updated its FY24 guidance to $4.20-$4.25 EPS.

Tapestry Stock Performance

TPR stock traded down $0.30 during trading on Friday, hitting $40.07. 3,602,114 shares of the company traded hands, compared to its average volume of 4,197,532. Tapestry has a 1 year low of $25.99 and a 1 year high of $48.80. The company has a market cap of $9.19 billion, a PE ratio of 10.60, a P/E/G ratio of 0.82 and a beta of 1.61. The stock’s 50-day simple moving average is $43.49 and its 200 day simple moving average is $38.80. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.68.

Tapestry (NYSE:TPRGet Free Report) last posted its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.14. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. On average, equities analysts expect that Tapestry will post 4.22 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.49%. Tapestry’s dividend payout ratio is currently 37.04%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TPR shares. Evercore ISI upgraded Tapestry from an in-line rating to an outperform rating and boosted their price objective for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. StockNews.com upgraded shares of Tapestry from a hold rating to a buy rating in a research report on Thursday, April 18th. Robert W. Baird lowered their target price on Tapestry from $52.00 to $50.00 and set an outperform rating on the stock in a report on Friday. The Goldman Sachs Group lifted their price objective on Tapestry from $41.00 to $47.00 and gave the stock a buy rating in a research report on Friday, February 9th. Finally, Jefferies Financial Group cut Tapestry from a buy rating to a hold rating and set a $50.00 target price for the company. in a report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Tapestry currently has an average rating of Moderate Buy and an average target price of $48.71.

Check Out Our Latest Research Report on TPR

Tapestry Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Tapestry (NYSE:TPR)

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