What to Expect When Tiffany Reports Before Wednesday's Open

Tiffany & Co. (NYSE: TIF) is scheduled to release its fiscal second-quarter financial results before the markets open on Wednesday. The consensus estimates call for $1.05 in EPS and $1.06 billion in revenue. The same period of last year had $1.17 in EPS and $1.08 billion in revenue.

In the fiscal first quarter, the luxury goods company posted EPS of $1.03 on revenues of $1 billion. In the same period of the prior year, Tiffany said it EPS of $1.14 and revenue of $1.03 billion. First-quarter results also compared to consensus estimates of EPS of $1.02 and $1.02 billion in revenue.

On a constant currency basis, quarterly net sales were flat and same-store sales declined by 2%. On a GAAP basis, worldwide net sales dropped by 3% and same-store sales fell 5%.

First-quarter same-store sales in the company’s Americas region fell by 4% and same-store sales fell by 5%. On a constant currency basis, both total sales and same-store sales fell by 4%.

To keep investors from stampeding to the exits, Tiffany raised its quarterly dividend by 5%, from $0.55 to $0.58 per share.

Overall, Tiffany has underperformed the broad markets, with the stock up 3% year to date. In the past 52 weeks, the stock is down 36%.

A few analysts weighed in on Tiffany ahead of the results:

  • Oppenheimer has an Outperform rating and a $100 price target.
  • Cowen has an Outperform rating with a $107 price target.
  • Merrill Lynch has a Neutral rating with a $90 price target.
  • Citigroup has a Neutral rating with a $100 target price.
  • HSBC has a Buy rating with a $122 price target.
  • Loop Capital has a Hold rating.

Shares of Tiffany traded at $82.85 on Tuesday, in a 52-week range of $73.04 to $138.41. The consensus price target is $106.59.

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