Tapestry Inc reports results for the quarter ended in June - Earnings Summary

* Tapestry Inc reported quarterly adjusted earnings of 61 cents per share for the quarter ended in June. The mean expectation of 26 analysts for the quarter that ended in June was for earnings of 61 cents per share. * Revenue rose 2 percent to $1.51 billion from a year ago; analysts expected $1.53 billion. * Tapestry Inc's Reported EPS for the quarter was 51 cents. * The mean earnings estimate of analysts had fallen by about 0.2 percent in the last three months. * In the last 30 days two analysts negatively revised earnings estimates and there have been no positive earnings revisions. * Tapestry Inc shares had fallen by 21.2 percent this quarter and lost 25.9 percent so far this year. * The New York-based company reported quarterly net income of $148.9 million. * Wall Street's median 12-month price target for Tapestry Inc is $42.50, about 52.3 percent above its recent price of $20.26. * The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy," 8 "hold" and no "sell" or "strong sell." This summary was machine generated August 15 at 02:58 p.m. GMT.