Tiffany & Co is slated to release second quarter earnings before the markets open on Thursday, August, 27. Analysts are looking for earnings per share of 91 cents on sales of $1 billion. During the same quarter last year, the luxury jeweler saw revenues of roughly $993 million. Morningstar analyst Paul Swinand, who maintains a HOLD rating on the stock, thinks the company saw some weakness over the summer in its U.S. market. ‘I’m thinking the U.S market was a little tepid over the summer,’ he said. ‘Maybe some of that was because of weaker tourist demand with the strong dollar, so I’m not bullish on the quarter, but I am getting a little more bullish on the long-run now that the stock price of around $82 per share is below our fair value price of $89,’ referring to the price Morningstar thinks the stock is worth today. The stock is down 14.5 percent since its high on July 31 and reached a low for the year on Tuesday. TheStreet’s Scott Gamm reports from New York.
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