This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NEW YORK (
TheStreet) -- Jewelry retailer
Tiffany(TIF - Get Report) was the best-performing stock in the
S&P 500 Tuesday morning.
The S&P 500 fell 7.23 points, or 0.51%, to 1,402.52.
Shares of Tiffany rose 6.51% to $73.15. The company reported
fourth-quarter earnings of $178.4 million, or $1.39 a share, down from earlier earnings of $181.2 million, or $1.41 a share. Analysts, on average, anticipated earnings of $1.42 a share.
Tiffany's 2012 outlook includes a projected 10% increase in global sales led by the Asia/Pacific region and the Americas and between a 16% and 19% increase in earnings per share to a range of between $3.95 and $4.05.
Tiffany has an estimated price-to-earnings ratio for next year of 16.38 times; the average for specialty retailers is 15.93.
Thirteen of the 23 analysts who cover Tiffany rated it hold; 10 analysts gave the stock a buy rating.
TheStreet Ratings gives Tiffany a B grade with a buy rating and a
$79.64 price target. The stock has risen 10.32% year to date.