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Benzinga Breakdown: Tiffany's Q1 Earnings

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Benzinga Breakdown: Tiffany's Q1 Earnings
  • EPS $0.69 vs $0.68 est, down 15 percent year-over-year
  • Sales $891 million vs $915 million est, down 7 percent year-over-year
  • Comps down 9 percent
  • EPS included tax benefit of $0.05/share, EPS excluding tax benefit was $0.64
  • Management expects EPS to decline in Q2 2016 at a similar rate to the first quarter
  • What Does That Mean For The Company?

    Tiffany & Co. (NYSE: TIF) lowered FY16 guidance, expecting mid-single-digit percentage declines in EPS year-over-year.

    Related Link: Tiffany 1Q Profit Drops 17.1%, Revenue Misses, Offers Downbeat Forecast

    What Does That Mean For The Investor?

    One ray of hope in the quarterly results was improved margins — 61.2 percent, up 2.72 percent from last year. The margin improvements come from effective changes in the sales mix as well as price increases.

    There is some support out there for the idea of Tiffany & Co as a turnaround story. Tuesday, Nomura analysts remained optimistic that the company’s financial targets are obtainable. Nomura maintains a Buy rating and a $90 price target.

    Within the first hour of Wednesday's regular trading session, Tiffany & Co. was down 1.75 percent at $62.73.

    Latest Ratings for TIF

    DateFirmActionFromTo
    Oct 2020Morgan StanleyMaintainsEqual-Weight
    Sep 2020UBSMaintainsNeutral
    Dec 2019Cowen & Co.DowngradesOutperformMarket Perform

    View More Analyst Ratings for TIF
    View the Latest Analyst Ratings

     

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