After hitting a 52-week high of $72.48 on Apr 2, the shares of
Tiffany & Company
) gathered momentum yet again to craft a new high of $74.20
yesterday. This designer, manufacturer and retailer of fine
jewelry eventually closed at $73.38, up 1.5% from the previous
day's session and generated a year-to-date return of roughly
Tiffany currently trades at a forward P/E of 21.15x, a 6.8%
premium to the peer group average of 19.80x. The company's
long-term estimated EPS growth rate is 12.3%, which is modestly
healthy. Average volume of shares traded over the last 3 months
stands at approximately 2,004K.
Barring a few occasional pull backs, shares of this Zacks Rank
#3 (Hold) have been trending upwards since Mar 22, when the
company posted better-than-expected fourth-quarter fiscal 2012
results due to a surge in demand in the Asia-Pacific region.
The quarterly earnings of $1.40 per share beat the Zacks
Consensus Estimate of $1.37, and rose marginally by 0.7% from
$1.39 earned in the prior-year quarter. The positive earnings
surprise of 2.2% followed four straight quarters of negative
earnings surprises. Again, with respect to its top line, Tiffany
registered growth of 4% to $1,235.8 million.
Tiffany holds a significant position in the world jewelry
market due to its distinctive brand appeal. We believe that the
company is well positioned to support robust sales and earnings
growth in the long run by leveraging capital investments made
over the past several years in distribution, manufacturing and
diamond sourcing processes. Moreover, with nearly half of the
total sales generated internationally, we believe that the
company is sufficiently diversified from a regional perspective
Tiffany now projects fiscal 2013 earnings in the range of
$3.43 - $3.53 per share, reflecting year-over-year growth of 6%
to 9%. On the other hand, total net sales are forecasted to
increase between 6% - 8% for the fiscal year.
Alongside, other retailers like
The Kroger Company
) attained new 52-week highs of $45.26, $69.91 and $33.50,
respectively, on Thursday, Apr 11.
KROGER CO (KR): Free Stock Analysis Report
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TIFFANY & CO (TIF): Free Stock Analysis
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