Brokerages expect PVH Corp (NYSE:PVH) to report $2.37 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for PVH’s earnings, with the lowest sales estimate coming in at $2.36 billion and the highest estimate coming in at $2.38 billion. PVH reported sales of $2.31 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The business is expected to report its next earnings report after the market closes on Wednesday, May 29th.
On average, analysts expect that PVH will report full-year sales of $10.06 billion for the current year, with estimates ranging from $10.00 billion to $10.09 billion. For the next fiscal year, analysts forecast that the firm will report sales of $10.51 billion, with estimates ranging from $10.26 billion to $10.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for PVH.
PVH (NYSE:PVH) last posted its earnings results on Wednesday, March 27th. The textile maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.08. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.41 billion. PVH had a net margin of 7.73% and a return on equity of 13.12%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.58 earnings per share.
PVH has been the subject of several recent research reports. UBS Group lifted their target price on shares of PVH from $145.00 to $159.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Citigroup boosted their price objective on shares of PVH from $120.00 to $128.00 and gave the company a “neutral” rating in a research note on Friday, March 29th. Morgan Stanley initiated coverage on shares of PVH in a research note on Tuesday, April 9th. They set an “overweight” rating and a $164.00 price objective for the company. ValuEngine raised shares of PVH from a “strong sell” rating to a “sell” rating in a research note on Friday, March 29th. Finally, Zacks Investment Research cut shares of PVH from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. PVH presently has an average rating of “Buy” and an average price target of $146.40.
Shares of PVH traded up $2.46 during trading hours on Thursday, hitting $108.52. The company’s stock had a trading volume of 962,091 shares, compared to its average volume of 1,094,702. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.87 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.71 and a debt-to-equity ratio of 0.48. PVH has a 52-week low of $86.46 and a 52-week high of $169.22.
PVH announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 27th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the textile maker to repurchase up to 8.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be paid a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.15 annualized dividend and a yield of 0.14%. PVH’s dividend payout ratio is currently 1.56%.
In other PVH news, SVP Dana Perlman sold 1,054 shares of PVH stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $128.92, for a total transaction of $135,881.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Francis K. Duane sold 6,171 shares of PVH stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $127.27, for a total transaction of $785,383.17. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in PVH during the fourth quarter valued at approximately $28,000. Everence Capital Management Inc. bought a new stake in shares of PVH in the 1st quarter worth approximately $455,000. Virtu Financial LLC bought a new stake in shares of PVH in the 4th quarter worth approximately $381,000. Eagle Asset Management Inc. lifted its holdings in shares of PVH by 2.0% in the 1st quarter. Eagle Asset Management Inc. now owns 43,018 shares of the textile maker’s stock worth $5,246,000 after acquiring an additional 846 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its holdings in shares of PVH by 2,788.0% in the 4th quarter. Gateway Investment Advisers LLC now owns 91,260 shares of the textile maker’s stock worth $8,483,000 after acquiring an additional 88,100 shares during the last quarter. Institutional investors and hedge funds own 96.08% of the company’s stock.
PVH Company Profile
PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.
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