Tiffany Sees Modest Improvement in Third Quarter Results: Management Maintains Its Full Year Earnings Outlook
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Tiffany & Co. (TIF) PT Range Raised at Wells Fargo Following Solid Q3 But Remains 'Underperform'
November 29, 2016 11:27 AM ESTWells Fargo analyst Ike Boruchow raised his valuation range on Tiffany & Co. (NYSE: TIF) to $70-$72 (from $64-$66) following "solid" Q3 results but maintained an Underperform rating.
Boruchow commented, "TIFs Q3 print was solid. While expectations had been coming up over the past several months (on the view that global luxury was beginning to improve), TIF was able to match those expectations with better comps and EPS. The single biggest driver of upside (vs. our model) came out of Japan which... More
Mizuho Securities Reiterates Buy on Tiffany & Co. (TIF) Following 3Q Report
November 29, 2016 9:33 AM ESTMizuho Securities reiterated a Buy rating and $82.00 price target on Tiffany & Co. (NYSE: TIF) following the company's 3Q earnings report. TIF reported EPS of $0.76, above the Streets estimate of $0.67. Management reiterated prior guidance for MSD% decline in EPS, which implies FY16 EPS of $3.61-3.68,... More
Tiffany & Co. (TIF) Tops Q3 EPS by 8c; Comps Outpaced
November 29, 2016 6:41 AM ESTTiffany & Co. (NYSE: TIF) reported Q3 EPS of $0.76, $0.08 better than the analyst estimate of $0.68. Revenue for the quarter came in at $949.3 million versus the consensus estimate of $922.6 million.
Constant currency comps fell 3 percent, versus a drop of 4.1 percent expected by analysts.
Sales Summary:
In the Americas, total sales of $417 million in the third quarter were 2% below the prior year, and sales of $1.25 billion in the year-to-date were 7% below the... More