Tiffany & Company , the designer and retailer of fine jewelry, came out with second-quarter fiscal 2017 results, wherein earnings of 92 cents per share surpassed the Zacks Consensus Estimate of 88 cents and increased 9.5% year over year.
In fiscal 2017, management continues to anticipate earnings to increase by mid-single digit percentage over 2016’s adjusted earnings of $3.75 per share. The Zacks Consensus Estimate for the fiscal year is currently pegged at $3.92.
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 10.8%.
Revenues: Net sales came in at $960 million, up nearly 3% from the prior-year quarter and also came ahead of the Zacks Consensus Estimate of $933 million. The year-over-year improvement was backed by increased wholesale sale of diamonds and strength witnessed across Asia- Pacific coupled with solid e-commerce improvement. However, comparable-store sales fell 2% in the quarter.
Going forward, management continues to expect net sales to increase by low-single digit percentage in fiscal 2017.
Key Events: Tiffany bought back roughly 230,000 shares worth $21 million during the second quarter. As of Jul 31, 2017, the company had shares worth $278 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.
Check back later for our full write up on Tiffany’s earnings report!
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Tiffany (TIF) Q2 Earnings Beat Estimates, FY17 View Intact
Tiffany & Company , the designer and retailer of fine jewelry, came out with second-quarter fiscal 2017 results, wherein earnings of 92 cents per share surpassed the Zacks Consensus Estimate of 88 cents and increased 9.5% year over year.
In fiscal 2017, management continues to anticipate earnings to increase by mid-single digit percentage over 2016’s adjusted earnings of $3.75 per share. The Zacks Consensus Estimate for the fiscal year is currently pegged at $3.92.
Tiffany & Co. Price, Consensus and EPS Surprise
Tiffany & Co. Price, Consensus 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 10.8%.
Revenues: Net sales came in at $960 million, up nearly 3% from the prior-year quarter and also came ahead of the Zacks Consensus Estimate of $933 million. The year-over-year improvement was backed by increased wholesale sale of diamonds and strength witnessed across Asia- Pacific coupled with solid e-commerce improvement. However, comparable-store sales fell 2% in the quarter.
Going forward, management continues to expect net sales to increase by low-single digit percentage in fiscal 2017.
Key Events: Tiffany bought back roughly 230,000 shares worth $21 million during the second quarter. As of Jul 31, 2017, the company had shares worth $278 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.
Check back later for our full write up on Tiffany’s earnings report!
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.
Learn more >>