Second-Quarter Results in Line With Expectations; Tiffany Shares Attractive for Long-Term Investors
Tiffany's second-quarter results are in line with our expectations thus, we are maintaining our $ 85 fair value estimate. Our wide moat rating remains unchanged following the second-quarter earnings release. Concerned by the macroeconomic challenges, management is reiterating its full-year guidance--sales are expected to decline by low-single-digit percentage and EPS by mid-single-digit percentage. Our full-year sales forecast is in line with the guidance, however, on the long term we expect lon...Tiffany & Co. is a holding company that operates through its principal subsidiary, Tiffany and Company. Through its subsidiaries, the company designs and manufactures products and operates TIFFANY & CO. retail stores worldwide, and also sells its products through Internet, catalog, business-to-business and wholesale distribution. The company's principal product category is jewelry. The company provides a selection of TIFFANY & CO. brand jewelry at a range of prices. The company also sells watches, home and accessories products and fragrances. The company has four reportable segments: (i) Americas, (ii) Asia-Pacific, (iii) Japan and (iv) Europe.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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