PVH (NYSE:PVH) Releases Quarterly Earnings Results, Beats Estimates By $0.62 EPS
by Mitch Edgeman · The Markets DailyPVH (NYSE:PVH – Get Free Report) issued its earnings results on Wednesday. The textile maker reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.62, FiscalAI reports. PVH had a net margin of 1.76% and a return on equity of 10.87%.
PVH Stock Performance
PVH traded down $0.43 during trading on Wednesday, reaching $72.44. The company’s stock had a trading volume of 1,466,074 shares, compared to its average volume of 1,065,312. PVH has a 52-week low of $59.60 and a 52-week high of $100.75. The company’s fifty day moving average price is $79.47 and its 200-day moving average price is $79.10. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 1.09 and a beta of 1.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.93 and a current ratio of 1.68.
PVH Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a $0.0375 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $0.15 dividend on an annualized basis and a yield of 0.2%. PVH’s dividend payout ratio (DPR) is presently 4.75%.
Analyst Ratings Changes
A number of brokerages recently weighed in on PVH. Evercore set a $79.00 price target on shares of PVH and gave the company an “in-line” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $84.00 price objective (up from $70.00) on shares of PVH in a report on Tuesday, August 4th. Bank of America reiterated an “underperform” rating and set a $70.00 target price (down from $90.00) on shares of PVH in a research report on Thursday, June 25th. Wall Street Zen downgraded PVH from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Wells Fargo & Company decreased their target price on PVH from $85.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, PVH presently has a consensus rating of “Hold” and an average target price of $86.82.
Check Out Our Latest Research Report on PVH
Institutional Trading of PVH
Several hedge funds have recently modified their holdings of PVH. Danske Bank A S acquired a new position in PVH during the third quarter worth $25,000. Global Retirement Partners LLC lifted its holdings in PVH by 513.9% in the fourth quarter. Global Retirement Partners LLC now owns 442 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 370 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of PVH during the 4th quarter worth $48,000. Quarry LP purchased a new stake in shares of PVH during the 3rd quarter worth $58,000. Finally, Larson Financial Group LLC grew its stake in shares of PVH by 70,300.0% during the 3rd quarter. Larson Financial Group LLC now owns 704 shares of the textile maker’s stock worth $59,000 after purchasing an additional 703 shares during the period. 97.25% of the stock is owned by institutional investors and hedge funds.
PVH Company Profile
PVH Corp is a leading global apparel company known for its portfolio of iconic brands in the dress shirt, sportswear and lifestyle categories. The company designs, markets and distributes clothing, accessories and fragrances under both owned and licensed brands. PVH’s core brand holdings include Calvin Klein and Tommy Hilfiger, complemented by a range of heritage labels such as Van Heusen, IZOD, ARROW, Warner’s and Olga.
PVH’s operations span the entire value chain from product design and development to manufacturing, marketing and distribution.
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