Tiffany & Co. PT Raised to $65.00 (TIF)
Research analysts at Jefferies Group boosted their target price on shares of Tiffany & Co. (NYSE: TIF) from $55.00 to $65.00 in a report released on Friday. The firm currently has a “hold” rating on the stock.
The analysts wrote, “TIF posted slightly better 4Q results vs. recently lowered expectations and provided an in-line FY’14 outlook. While topline and margin estimates have come in and comparisons ease in coming quarters, we remain cautious given the difficult trends in the silver business and prior string of downward earnings revisions. Despite the stock’s recent move we prefer to remain on the sidelines. Maintain Hold rating.”
Tiffany & Co. (NYSE: TIF) traded up 1.94% on Friday, hitting $69.23. Tiffany & Co. has a 1-year low of $67.75 and a 1-year high of $69.78. The stock’s 50-day moving average is currently $68.. The company has a market cap of $8.777 billion and a price-to-earnings ratio of 20.99.
Tiffany & Co. (NYSE: TIF) last issued its quarterly earnings data on Friday, March 22nd. The company reported $1.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.36 by $0.04. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Tiffany & Co. has set its FY14 guidance at $3.43-3.53 EPS. On average, analysts predict that Tiffany & Co. will post $3.21 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee reiterated a “neutral” rating on shares of Tiffany & Co. in a research note to investors on Friday. Separately, analysts at Wells Fargo reiterated an “outperform” rating on shares of Tiffany & Co. in a research note to investors on Friday. They now have a $79.00 price target on the stock, up previously from $75.00. Finally, analysts at Canaccord Genuity raised their price target on shares of Tiffany & Co. from $52.00 to $53.00 in a research note to investors on Friday. They now have a “sell” rating on the stock.
Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $68.81.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, April 10th. Stockholders of record on Wednesday, March 20th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, March 18th.
Tiffany & Co is a holding company that operates through its subsidiary companies. The Company’s principal subsidiary, Tiffany and Company (NYSE: TIF), is a jeweler and specialty retailer whose principal merchandise offering is jewelry.
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