Before the market open on Friday, the jewelry company reported earnings of $1.46 per share, higher than analysts' forecasts for $1.41 per share. However, revenue of $1.21 billion was slightly lower than Wall Street's estimates for $1.22 billion.
Tiffany projects 2016 full-year earnings of $3.83 per share, lower than analysts' projections for $3.89 per share.
The company's earnings and sales have been affected by a stronger dollar, Tiffany said in a statement.
"We are assuming that sales and earnings growth in 2016 will continue to be pressured by various factors including a further strengthening of the dollar, along with volatile and uncertain economic and equity market conditions that will likely affect consumer spending," CEO Frederic Cumenal said in a statement.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.
You can view the full analysis from the report here: TIF