Uploaded by FinancialNewsOnline on Nov 29, 2011
Tiffany (NYSE:TIF) reported fiscal third quarter earnings this morning, posting an EPS of $0.70 up from the consensus estimate of $0.61 per share. Revenue came in at $821.8 million, higher than the $804 million analysts anticipated. Fourth quarter guidance of $1.48-$1.58 missed consensus estimates of $1.63.
Michael J. Kowalski, chairman and chief executive officer, said, "Increased sales in all regions contributed to the continuation of strong worldwide sales growth in the third quarter. We were also pleased to achieve an improved operating margin by leveraging the sales growth against fixed costs."
Tiffany & Co (NYSE:TIF) has potential upside of 12.4% based on a current price of $73.62 and an average consensus analyst price target of $82.76.
Michael J. Kowalski, chairman and chief executive officer, said, "Increased sales in all regions contributed to the continuation of strong worldwide sales growth in the third quarter. We were also pleased to achieve an improved operating margin by leveraging the sales growth against fixed costs."
Tiffany & Co (NYSE:TIF) has potential upside of 12.4% based on a current price of $73.62 and an average consensus analyst price target of $82.76.
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