Tiffany & Company , the designer and retailer of fine jewelry, came out with first-quarter fiscal 2017 results, wherein earnings of 74 cents per share surpassed the Zacks Consensus Estimate of 70 cents and increased 7.2% year over year.
In fiscal 2017, management anticipates earnings to increase by mid-single digit percentage over 2016’s adjusted earnings of $3.75 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has witnessed a slight uptrend in the last 30 days. In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 7.9%.
Revenues: Net sales came in at $899.6 million, up nearly 1% from $891.3 million recorded in the prior-year quarter, while it fell short of the Zacks Consensus Estimate of $916 million. The year over year improvement was backed by increased wholesale sale of diamonds and strength noted across Asia- Pacific. The company expects net sales to increase by low-single digit percentage in fiscal 2017.
Key Events: Tiffany bought back roughly 123,000 shares worth $11.5 million during the first quarter. As of Apr 30, 2017, the company had shares worth $299 million remaining under its standing authorization, extending till Jan 31, 2019.
Zacks Rank: Currently, Tiffany carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Tiffany’s shares are down nearly 5.5% during pre-market trading hours following the earnings release.
Check back later for our full write up on Tiffany’s earnings report!
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Tiffany (TIF) Tops Q1 Earnings Estimates, Stock Declines
Tiffany & Company , the designer and retailer of fine jewelry, came out with first-quarter fiscal 2017 results, wherein earnings of 74 cents per share surpassed the Zacks Consensus Estimate of 70 cents and increased 7.2% year over year.
In fiscal 2017, management anticipates earnings to increase by mid-single digit percentage over 2016’s adjusted earnings of $3.75 per share.
Tiffany & Co. Price and EPS Surprise
Tiffany & Co. Price and EPS Surprise | Tiffany & Co. Quote
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has witnessed a slight uptrend in the last 30 days. In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 7.9%.
Revenues: Net sales came in at $899.6 million, up nearly 1% from $891.3 million recorded in the prior-year quarter, while it fell short of the Zacks Consensus Estimate of $916 million. The year over year improvement was backed by increased wholesale sale of diamonds and strength noted across Asia- Pacific. The company expects net sales to increase by low-single digit percentage in fiscal 2017.
Key Events: Tiffany bought back roughly 123,000 shares worth $11.5 million during the first quarter. As of Apr 30, 2017, the company had shares worth $299 million remaining under its standing authorization, extending till Jan 31, 2019.
Zacks Rank: Currently, Tiffany carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Tiffany’s shares are down nearly 5.5% during pre-market trading hours following the earnings release.
Check back later for our full write up on Tiffany’s earnings report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>