Zacks: Brokerages Anticipate PVH Corp. (NYSE:PVH) Will Post Quarterly Sales of $2.40 Billion

Wall Street analysts expect PVH Corp. (NYSE:PVH) to announce $2.40 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for PVH’s earnings. The lowest sales estimate is $2.39 billion and the highest is $2.42 billion. PVH posted sales of $2.12 billion in the same quarter last year, which would indicate a positive year over year growth rate of 13.2%. The business is expected to report its next earnings report on Wednesday, December 1st.

According to Zacks, analysts expect that PVH will report full year sales of $9.13 billion for the current financial year, with estimates ranging from $9.05 billion to $9.19 billion. For the next financial year, analysts forecast that the firm will report sales of $9.64 billion, with estimates ranging from $9.42 billion to $10.08 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow PVH.

PVH (NYSE:PVH) last issued its quarterly earnings data on Monday, August 30th. The textile maker reported $2.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $1.52. PVH had a return on equity of 8.36% and a net margin of 3.42%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 46.3% on a year-over-year basis.

A number of brokerages have weighed in on PVH. Citigroup boosted their price objective on PVH from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, September 2nd. Morgan Stanley upped their price target on PVH from $124.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday, September 2nd. Zacks Investment Research cut PVH from a “buy” rating to a “hold” rating and set a $114.00 price target for the company. in a research note on Tuesday, August 24th. UBS Group upped their price target on PVH from $145.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, September 2nd. Finally, Telsey Advisory Group upped their price target on PVH from $128.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, PVH has a consensus rating of “Hold” and a consensus price target of $118.58.

In other news, CFO Michael A. Shaffer sold 12,070 shares of the firm’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $120.96, for a total value of $1,459,987.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Martijn Hagman sold 5,572 shares of the firm’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $121.37, for a total value of $676,273.64. The disclosure for this sale can be found here. Insiders have sold 156,864 shares of company stock worth $18,833,155 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in PVH. Victory Capital Management Inc. purchased a new position in shares of PVH in the 1st quarter worth about $389,000. Envestnet Asset Management Inc. grew its stake in shares of PVH by 7.1% in the first quarter. Envestnet Asset Management Inc. now owns 52,075 shares of the textile maker’s stock valued at $5,504,000 after buying an additional 3,450 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of PVH by 12.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,970 shares of the textile maker’s stock valued at $842,000 after buying an additional 908 shares in the last quarter. Arizona State Retirement System grew its stake in shares of PVH by 0.5% in the first quarter. Arizona State Retirement System now owns 20,695 shares of the textile maker’s stock valued at $2,187,000 after buying an additional 99 shares in the last quarter. Finally, The PNC Financial Services Group Inc. grew its stake in shares of PVH by 1.7% in the first quarter. The PNC Financial Services Group Inc. now owns 11,696 shares of the textile maker’s stock valued at $1,237,000 after buying an additional 200 shares in the last quarter. Institutional investors own 98.38% of the company’s stock.

Shares of NYSE PVH opened at $110.48 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.92 and a debt-to-equity ratio of 0.55. PVH has a twelve month low of $57.35 and a twelve month high of $121.94. The stock has a 50 day moving average of $108.21 and a two-hundred day moving average of $108.08. The stock has a market cap of $7.85 billion, a P/E ratio of 27.21, a P/E/G ratio of 0.33 and a beta of 2.36.

PVH Company Profile

PVH Corp. engages in the design and marketing of branded dress shirts, neckwear, sportswear, jeans wear, intimate apparel, swim products, handbags, footwear, and other related products. It operates through the following segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail.

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