PVH Corp. (PVH) Releases Earnings Results, Beats Expectations By $0.20 EPS
PVH Corp. (NYSE:PVH) issued its earnings results on Wednesday. The company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.20. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.23 billion. PVH Corp. had a net margin of 8.34% and a return on equity of 12.55%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.66 EPS. PVH Corp. updated its Q4 guidance to $1.13-1.18 EPS.
PVH Corp. (NYSE:PVH) traded down 0.08% during mid-day trading on Wednesday, reaching $105.94. 1,448,978 shares of the company traded hands. The firm has a market cap of $8.50 billion, a PE ratio of 12.83 and a beta of 0.77. The stock’s 50-day moving average price is $108.49 and its 200-day moving average price is $102.59. PVH Corp. has a one year low of $64.16 and a one year high of $115.40.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Wednesday, November 23rd will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Monday, November 21st. PVH Corp.’s dividend payout ratio is presently 1.82%.
A number of brokerages have recently issued reports on PVH. Zacks Investment Research upgraded shares of PVH Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 8th. Piper Jaffray Cos. set a $124.00 target price on shares of PVH Corp. and gave the company a “buy” rating in a research note on Thursday, September 29th. Citigroup Inc. cut their target price on shares of PVH Corp. from $110.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, August 26th. Brean Capital reaffirmed a “buy” rating on shares of PVH Corp. in a research report on Thursday, September 22nd. Finally, Telsey Advisory Group boosted their price objective on shares of PVH Corp. from $113.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $112.83.
In other PVH Corp. news, Director Mary Baglivo sold 2,280 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $110.26, for a total value of $251,392.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Francis K. Duane sold 25,405 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $112.00, for a total transaction of $2,845,360.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in PVH Corp. by 8.2% in the second quarter. Pacer Advisors Inc. now owns 1,618 shares of the company’s stock valued at $152,000 after buying an additional 122 shares during the last quarter. US Bancorp DE boosted its stake in shares of PVH Corp. by 2.1% in the second quarter. US Bancorp DE now owns 6,479 shares of the company’s stock valued at $610,000 after buying an additional 133 shares in the last quarter. Sei Investments Co. boosted its stake in shares of PVH Corp. by 18.1% in the second quarter. Sei Investments Co. now owns 1,169 shares of the company’s stock valued at $110,000 after buying an additional 179 shares in the last quarter. LPL Financial LLC boosted its stake in shares of PVH Corp. by 6.1% in the third quarter. LPL Financial LLC now owns 3,116 shares of the company’s stock valued at $350,000 after buying an additional 180 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of PVH Corp. by 1.2% in the second quarter. Comerica Bank now owns 21,596 shares of the company’s stock valued at $2,086,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.
About PVH Corp.
PVH Corp. is an apparel company. The Company’s segments include Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale, and Heritage Brands Retail. The Company’s brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands.
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