Ralph Lauren Corp. (RL) Receives “Market Perform” Rating from Cowen and Company
Ralph Lauren Corp. (NYSE:RL)‘s stock had its “market perform” rating reissued by research analysts at Cowen and Company in a research note issued on Friday. They presently have a $108.00 target price on the stock, up from their prior target price of $101.00. Cowen and Company’s price objective indicates a potential upside of 1.64% from the company’s previous close.
Several other research firms have also recently issued reports on RL. Vetr upgraded Ralph Lauren Corp. from a “hold” rating to a “buy” rating and set a $96.72 price objective for the company in a research report on Wednesday, August 3rd. Macquarie upped their target price on Ralph Lauren Corp. from $119.00 to $121.00 and gave the company an “outperform” rating in a report on Tuesday, September 27th. Brean Capital reissued a “hold” rating on shares of Ralph Lauren Corp. in a report on Thursday, August 11th. Credit Agricole SA initiated coverage on Ralph Lauren Corp. in a report on Wednesday, September 28th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, Telsey Advisory Group upped their target price on Ralph Lauren Corp. from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $110.98.
Shares of Ralph Lauren Corp. (NYSE:RL) opened at 106.26 on Friday. The company has a 50-day moving average of $99.41 and a 200 day moving average of $97.56. Ralph Lauren Corp. has a one year low of $82.15 and a one year high of $127.01. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 29.04 and a beta of 0.95.
Ralph Lauren Corp. (NYSE:RL) last released its quarterly earnings data on Thursday, November 10th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.19. The firm earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. Ralph Lauren Corp.’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 earnings per share. Equities research analysts forecast that Ralph Lauren Corp. will post $5.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.88%. Ralph Lauren Corp.’s dividend payout ratio (DPR) is presently 55.25%.
A number of large investors have recently modified their holdings of RL. Norinchukin Bank The raised its stake in shares of Ralph Lauren Corp. by 0.3% in the second quarter. Norinchukin Bank The now owns 2,991 shares of the company’s stock worth $268,000 after buying an additional 8 shares during the period. World Asset Management Inc raised its stake in shares of Ralph Lauren Corp. by 0.5% in the second quarter. World Asset Management Inc now owns 6,122 shares of the company’s stock worth $549,000 after buying an additional 32 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Ralph Lauren Corp. by 0.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,475 shares of the company’s stock worth $580,000 after buying an additional 49 shares during the period. Investment Counselors of Maryland LLC raised its stake in shares of Ralph Lauren Corp. by 5.4% in the third quarter. Investment Counselors of Maryland LLC now owns 1,653 shares of the company’s stock worth $167,000 after buying an additional 85 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Ralph Lauren Corp. by 1.3% in the second quarter. CIBC Asset Management Inc now owns 6,999 shares of the company’s stock worth $627,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 63.49% of the company’s stock.
Ralph Lauren Corp. Company Profile
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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