Tiffany & Co. TIF, the designer and retailer of fine jewelry, came out with fourth-quarter fiscal 2017 results, wherein earnings of $1.67 per share surpassed the Zacks Consensus Estimate of $1.63 and also increased 15% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 remained stable 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 5.3%.
Tiffany & Co. Price, Consensus and EPS Surprise
Tiffany & Co. Price, Consensus and EPS Surprise | Tiffany & Co. Quote
Revenues: Net sales came in at $1,334.3 million, up 8.5% year-over-year and also above the Zacks Consensus Estimate of $1,305 million. Further, comparable store sales grew 3%.
Guidance: Management issued guidance for fiscal 2018. The company projects net sales to increase by mid-single digits on a reported as well as constant-exchange-rate basis. Further, Tiffany now envisions earnings to rise in a band of $4.25-$4.45 per share.
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!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tiffany & Co. (TIF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research