Tapestry Inc. Earnings Forecast: Analysts Update Predictions
Tapestry Inc. Earnings Forecast
Tapestry, Inc. (TPR) is preparing to unveil its earnings results for the fourth quarter. This announcement is eagerly awaited by investors and analysts alike, who are keen to assess the company's performance in today’s competitive market.
Quarterly Earnings Insights
Analysts are projecting that Tapestry will report earnings of $1.02 per share, which signifies an increase from the 92 cents per share recorded during the same period last year. This growth reflects positively on the company’s ability to adapt and thrive in a fluctuating economic environment.
Projected Revenue Growth
In addition to earnings, Tapestry anticipates generating quarterly revenue of $1.68 billion. This forecast shows an upward trend compared to the $1.59 billion reported last year. Such figures contribute to the overall optimistic outlook for the brand.
Recent Collaborations and Initiatives
On July 15, Tapestry announced a multi-year collaboration with Gen Phoenix, a pioneering entity in eco-friendly recycled leather fibers. This partnership exemplifies Tapestry's commitment to sustainability, aligning with the growing consumer preference for environmentally conscious brands.
Stock Performance
On the latest trading day, Tapestry shares experienced a modest rise of 2.4%, closing at $113.53. This upward movement may indicate increasing investor confidence ahead of the earnings report.
Analyst Ratings Overview
Investors are always interested in how analysts are rating Tapestry. Here’s a summary of the latest ratings:
- Telsey Advisory Group's Dana Telsey has maintained an Outperform rating, elevating the price target from $92 to $125.
- UBS's Jay Sole has a Neutral rating but increased their price target from $73 to $112.
- B of A Securities’ Lorraine Hutchinson downgraded the stock from Buy to Hold and raised the price target from $95 to $115.
- JP Morgan analyst Matthew Boss reaffirmed an Overweight rating and adjusted the price target from $104 to $145.
- Raymond James analyst Rick Patel reiterated an Outperform rating and raised the price target from $85 to $115.
Investing Considerations for TPR Stock
For anyone considering investing in Tapestry (TPR) stock, it is essential to evaluate the opinions of various analysts. This due diligence can provide deeper insights into how the stock may perform in the near future.
Wrapping Up
As Tapestry approaches its quarterly earnings release, the anticipation grows among stakeholders. With the collaboration focusing on sustainability, coupled with favorable earnings projections, there is tangible momentum behind the brand. Investors are advised to consider both the current market sentiment and analyst forecasts when thinking about their engagement with TPR stock.
Frequently Asked Questions
1. When is Tapestry expected to announce its earnings?
Tapestry, Inc. is set to release its earnings results for the fourth quarter before the market opens.
2. What are the earnings projections for Tapestry?
Analysts are anticipating earnings of $1.02 per share for Tapestry, up from the previous year's $0.92.
3. How much revenue is Tapestry projected to generate?
The company is expected to report revenue of $1.68 billion for the quarter, showing growth from the $1.59 billion last year.
4. Who are the key analysts covering Tapestry?
Analysts from Telsey Advisory Group, UBS, B of A Securities, JP Morgan, and Raymond James have provided updated ratings and price targets for Tapestry.
5. What recent initiatives has Tapestry undertaken?
Tapestry has engaged in a renewed partnership with Gen Phoenix to promote the use of eco-friendly recycled leather fibers in their products.
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