Somewhat Favorable News Coverage Somewhat Unlikely to Affect Tapestry (TPR) Share Price

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News stories about Tapestry (NYSE:TPR) have been trending somewhat positive on Sunday, according to Accern Sentiment Analysis. The research firm ranks the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Tapestry earned a news sentiment score of 0.09 on Accern’s scale. Accern also assigned news articles about the luxury accessories retailer an impact score of 45.9371158589278 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Here are some of the news articles that may have impacted Accern Sentiment Analysis’s analysis:

Shares of TPR stock opened at $51.41 on Friday. The company has a current ratio of 2.66, a quick ratio of 1.83 and a debt-to-equity ratio of 0.51. Tapestry has a 1 year low of $38.70 and a 1 year high of $55.50. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.40.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, August 14th. The luxury accessories retailer reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Tapestry had a net margin of 6.10% and a return on equity of 24.12%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business earned $0.50 EPS. The company’s revenue was up 30.9% compared to the same quarter last year. research analysts expect that Tapestry will post 2.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be paid a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.35 annualized dividend and a yield of 2.63%. Tapestry’s payout ratio is currently 62.79%.

Several equities research analysts recently commented on TPR shares. Wells Fargo & Co set a $60.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research report on Monday, April 23rd. Canaccord Genuity set a $59.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research report on Friday, April 27th. UBS Group cut their price objective on shares of Tapestry from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Goldman Sachs Group set a $61.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research report on Wednesday. Finally, Bank of America raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Thursday, May 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $56.10.

About Tapestry

Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.

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