KeyCorp Comments on Tiffany & Co.’s FY2018 Earnings (TIF)
Tiffany & Co. (NYSE:TIF) – Equities researchers at KeyCorp boosted their FY2018 earnings estimates for shares of Tiffany & Co. in a report issued on Wednesday. KeyCorp analyst E. Yruma now forecasts that the specialty retailer will earn $4.10 per share for the year, up from their prior forecast of $4.01. KeyCorp has a “Overweight” rating and a $115.00 price objective on the stock. KeyCorp also issued estimates for Tiffany & Co.’s Q4 2018 earnings at $1.64 EPS.
A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Tiffany & Co. to $108.00 and gave the company a “sector perform” rating in a report on Thursday. They noted that the move was a valuation call. Wells Fargo & Co restated a “hold” rating on shares of Tiffany & Co. in a report on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Tiffany & Co. in a report on Monday, December 18th. They issued a “neutral” rating and a $103.00 target price for the company. Citigroup upgraded shares of Tiffany & Co. from a “neutral” rating to a “buy” rating and boosted their target price for the company from $92.00 to $115.00 in a report on Thursday, December 14th. Finally, Zacks Investment Research downgraded shares of Tiffany & Co. from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $102.00.
Tiffany & Co. (NYSE:TIF) last released its earnings results on Wednesday, November 29th. The specialty retailer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. Tiffany & Co. had a net margin of 11.46% and a return on equity of 15.77%. The firm had revenue of $976.20 million during the quarter, compared to the consensus estimate of $957.18 million. During the same period in the previous year, the firm earned $0.76 earnings per share. Tiffany & Co.’s revenue was up 2.8% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in TIF. Toronto Dominion Bank boosted its stake in shares of Tiffany & Co. by 25.5% in the second quarter. Toronto Dominion Bank now owns 36,809 shares of the specialty retailer’s stock valued at $3,455,000 after purchasing an additional 7,484 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Tiffany & Co. by 489.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,941 shares of the specialty retailer’s stock valued at $362,000 after purchasing an additional 3,272 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Tiffany & Co. in the third quarter valued at $274,000. Investec Asset Management LTD boosted its stake in shares of Tiffany & Co. by 9.1% in the third quarter. Investec Asset Management LTD now owns 2,290,293 shares of the specialty retailer’s stock valued at $210,203,000 after purchasing an additional 191,783 shares during the period. Finally, KBC Group NV boosted its stake in shares of Tiffany & Co. by 50.5% in the third quarter. KBC Group NV now owns 38,769 shares of the specialty retailer’s stock valued at $3,558,000 after purchasing an additional 13,013 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.
In other Tiffany & Co. news, insider Philippe Galtie sold 673 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $107.92, for a total transaction of $72,630.16. Following the completion of the sale, the insider now directly owns 673 shares in the company, valued at $72,630.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles K. Marquis sold 4,717 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $107.84, for a total transaction of $508,681.28. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 20th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $2.00 annualized dividend and a yield of 1.86%. Tiffany & Co.’s dividend payout ratio is currently 53.76%.
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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. The Company’s segments include Americas, Asia-Pacific, Japan, Europe and Other. Through its subsidiaries, the Company designs and manufactures products and operates TIFFANY & CO.
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