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NEW YORK (
Tiffany(TIF - Get Report) and
Amazon(AMZN - Get Report) were among the best-performing stocks in the
S&P 500 on Tuesday.
The S&P 500 fell 4.23 points, or 0.3%, to close at 1,405.52.
Shares of Tiffany rose 6.68% to $73.27 on about eight times the stock's average daily trading volume of 1.9 million shares. 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 a profit of $1.42 a share.
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 shares trade at an estimated price-to-earnings ratio for next year of 16.18X; the average for specialty retailers is 16.1X.
Thirteen of the 23 analysts who cover Tiffany rate it at hold; 10 analysts give 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 10.58% year to date.