Tiffany & Company , the designer and retailer of fine jewelry, came out with third-quarter fiscal 2017 results, wherein earnings of 80 cents per share surpassed the Zacks Consensus Estimate of 76 cents and also increased 5.3% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate has witnessed upward revisions for fiscal 2017 in the last 7 days. In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 7.4%.
Revenues: Net sales came in at $976.2 million, up 3% year-over-year and also above the Zacks Consensus Estimate of $960 million. However, comparable store sales declined 1%.
Guidance: Management continues to anticipate fiscal 2017 earnings per share to increase by a high-single-digit percentage from fiscal 2016 earnings of $3.55. However, it expects earnings to jump mid-single-digit-percentage over adjusted earnings of $3.75 per share reported in fiscal 2016. Tiffany now envisions fiscal year net sales to increase by a low-single-digit percentage on a reported and constant-exchange-rate basis.
Zacks Rank: Currently, Tiffany carries a Zacks Rank #2 (Buy) 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 up nearly 2% during pre-market trading hours following the earnings release.
Tiffany & Co. Price, Consensus and EPS Surprise
Check back later for our full write up on Tiffany’s earnings report!
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Tiffany (TIF) Tops Q3 Earnings & Sales Estimate, Stock Up
Tiffany & Company , the designer and retailer of fine jewelry, came out with third-quarter fiscal 2017 results, wherein earnings of 80 cents per share surpassed the Zacks Consensus Estimate of 76 cents and also increased 5.3% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate has witnessed upward revisions for fiscal 2017 in the last 7 days. In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 7.4%.
Revenues: Net sales came in at $976.2 million, up 3% year-over-year and also above the Zacks Consensus Estimate of $960 million. However, comparable store sales declined 1%.
Guidance: Management continues to anticipate fiscal 2017 earnings per share to increase by a high-single-digit percentage from fiscal 2016 earnings of $3.55. However, it expects earnings to jump mid-single-digit-percentage over adjusted earnings of $3.75 per share reported in fiscal 2016. Tiffany now envisions fiscal year net sales to increase by a low-single-digit percentage on a reported and constant-exchange-rate basis.
Zacks Rank: Currently, Tiffany carries a Zacks Rank #2 (Buy) 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 up nearly 2% during pre-market trading hours following the earnings release.
Tiffany & Co. Price, Consensus and EPS Surprise
Tiffany & Co. Price, Consensus and EPS Surprise | Tiffany & Co. Quote
Check back later for our full write up on Tiffany’s earnings report!
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>