Markets

Tiffany Boosts Outlook as Q3 Earnings Beat View (TIF)

Jewelry retailer Tiffany & Co. ( TIF ) on Wednesday said its third quarter profit surged 27% on higher sales, prompting the company to raise its full-year earnings guidance.

The New York-based company reported third quarter net income of $55.1 million, or 43 cents per share, compared with $43.3 million, or 35 cents per share, in the year-ago period. Excluding one-time charges, adjusted profit was 46 cents per share.

Sales jumped 14% from last year to $681.7 million

On average, Wall Street analysts expected a smaller profit of 37 cents per share, on lower sales of $650.3 million.

Looking ahead, the company raised its full-year forecast to a range of $2.72 to $2.77 per share, compared with prior guidance of $2.60 to $2.65. Analysts currently expect $2.63 per share for the year.

Tiffany shares rose $1.92, or +3.3%, in premarket trading Wednesday.

The Bottom Line

Shares of Tiffany & Co. ( TIF ) have a 1.72% dividend yield, based on last night's closing stock price of $58.27. The stock has technical support in the $50-$52 price area. The stock is trading at all-time highs and have little overhead resistance.

Tiffany & Co. ( TIF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

TIF

Other Topics

Stocks