What to Expect From Tiffany Earnings

By Chris Lange Updated Jan 13, 7:37AM EST · Published May 24, 1:55PM EDT

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What to Expect From Tiffany Earnings — © Thinkstock

Tiffany & Co. (NYSE: TIF) is scheduled to report its fiscal first-quarter financial results before the markets open on Wednesday. The consensus estimates from Thomson Reuters call for $0.68 in earnings per share (EPS) on $914.94 million in revenue. In the same period of last year, the specialty retailer posted EPS of $0.81 and $962.40 million in revenue.

When the company reported earnings back in March, it issued guidance for the fiscal first-quarter of a diluted EPS decline of 15% to 20%, followed by a 5% to 10% decline in the second quarter, with a resumption of growth in the second half of the year.

The company was weighed down in the first quarter by unfavorable foreign exchange rates and an overly strong dollar, hence the near-term weak guidance.

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Tiffany’s longer-term objective calls for reaching high-single-digit net earnings growth, driven by mid-single-digit worldwide net sales growth on a constant-exchange-rate basis, while also continuing to generate strong free cash flow.

A few analysts weighed in on Tiffany ahead of the earnings release:

Nomura reiterated a Buy rating.
Cowen has a Market Perform rating with a $68 price target.
Wells Fargo reiterated an Underperform rating with a $58 price target.
Oppenheimer reiterated a Buy rating.
Jefferies initiated coverage with a Buy rating.

So far in 2016, Tiffany has underperformed the broad markets, with the stock down about 16%. Over the past 52 weeks, the stock was down 25%.

Shares of Tiffany were trading at $64.15 Tuesday afternoon. The stock has a consensus analyst price target of $81.29 and a 52-week trading range of $59.73 to $96.43.

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.