PVH Corp. (PVH) Updates Q4 Earnings Guidance
PVH Corp. (NYSE:PVH) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.13-1.18 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.28. The company issued revenue guidance of +1% to $2.13 billion, compared to the consensus revenue estimate of $2.12 billion.
Shares of PVH Corp. (NYSE:PVH) traded down 0.08% during mid-day trading on Wednesday, reaching $105.94. The company’s stock had a trading volume of 1,448,978 shares. The firm has a market cap of $8.50 billion, a P/E ratio of 12.83 and a beta of 0.77. The firm’s 50-day moving average price is $108.49 and its 200 day moving average price is $102.59. PVH Corp. has a 12-month low of $64.16 and a 12-month high of $115.40.
PVH Corp. (NYSE:PVH) last posted its quarterly earnings data on Wednesday, November 30th. The company reported $2.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.20. The firm earned $2.24 billion during the quarter, compared to analysts’ expectations of $2.23 billion. PVH Corp. had a return on equity of 12.55% and a net margin of 8.34%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.66 EPS. On average, analysts expect that PVH Corp. will post $6.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Wednesday, November 23rd will be given a $0.0375 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. PVH Corp.’s payout ratio is 1.82%.
A number of analysts have recently weighed in on the company. Piper Jaffray Cos. set a $124.00 price objective on PVH Corp. and gave the stock a buy rating in a research report on Friday, October 7th. Brean Capital reaffirmed a buy rating on shares of PVH Corp. in a research report on Thursday, September 22nd. Morgan Stanley reaffirmed a hold rating and set a $100.00 price target on shares of PVH Corp. in a research report on Thursday, August 25th. Goldman Sachs Group Inc. lowered their price target on PVH Corp. from $108.82 to $108.00 and set a neutral rating for the company in a research report on Thursday, August 25th. Finally, Zacks Investment Research cut PVH Corp. from a buy rating to a hold rating in a research report on Friday, September 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. PVH Corp. presently has a consensus rating of Buy and a consensus target price of $112.83.
In other news, CEO Francis K. Duane sold 25,405 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $112.00, for a total transaction of $2,845,360.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary Baglivo sold 2,280 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $110.26, for a total value of $251,392.80. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
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Several hedge funds and other institutional investors have recently modified their holdings of PVH. BlackRock Fund Advisors boosted its position in shares of PVH Corp. by 1.5% in the second quarter. BlackRock Fund Advisors now owns 1,273,418 shares of the company’s stock valued at $119,994,000 after buying an additional 18,911 shares in the last quarter. US Bancorp DE boosted its position 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. Employees Retirement System of Texas boosted its position in shares of PVH Corp. by 14.3% in the second quarter. Employees Retirement System of Texas now owns 8,000 shares of the company’s stock valued at $754,000 after buying an additional 1,000 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of PVH Corp. by 21.1% in the second quarter. Alliancebernstein L.P. now owns 181,995 shares of the company’s stock valued at $17,149,000 after buying an additional 31,752 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of PVH Corp. by 15.0% in the second quarter. Public Sector Pension Investment Board now owns 15,353 shares of the company’s stock valued at $1,447,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds 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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