Ralph Lauren (NYSE:RL) Announces Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Ralph Lauren (NYSE:RL) posted its earnings results on Thursday. The textile maker reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.28, FiscalAI reports. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the business earned $2.27 earnings per share. Ralph Lauren’s quarterly revenue was up 16.6% compared to the same quarter last year.

Ralph Lauren Trading Up 10.8%

NYSE RL opened at $364.83 on Thursday. The firm has a market capitalization of $22.09 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.12 and a beta of 1.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.52 and a current ratio of 2.10. Ralph Lauren has a one year low of $258.13 and a one year high of $393.41. The company’s 50 day moving average price is $352.65 and its 200 day moving average price is $354.72.

Ralph Lauren Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were given a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, March 27th. Ralph Lauren’s dividend payout ratio is 24.85%.

Hedge Funds Weigh In On Ralph Lauren

A number of hedge funds have recently made changes to their positions in RL. Orion Porfolio Solutions LLC lifted its position in shares of Ralph Lauren by 8,937.8% during the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after purchasing an additional 952,681 shares during the last quarter. Invesco Ltd. lifted its holdings in Ralph Lauren by 26.2% in the fourth quarter. Invesco Ltd. now owns 1,324,018 shares of the textile maker’s stock worth $468,186,000 after purchasing an additional 275,263 shares during the period. AQR Capital Management LLC increased its stake in Ralph Lauren by 38.6% during the 4th quarter. AQR Capital Management LLC now owns 881,360 shares of the textile maker’s stock valued at $311,658,000 after buying an additional 245,242 shares during the period. First Trust Advisors LP raised its position in shares of Ralph Lauren by 70.5% during the 4th quarter. First Trust Advisors LP now owns 586,225 shares of the textile maker’s stock worth $207,295,000 after buying an additional 242,386 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Ralph Lauren by 3,098.2% during the fourth quarter. Corient Private Wealth LLC now owns 244,565 shares of the textile maker’s stock worth $86,481,000 after purchasing an additional 236,918 shares in the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RL shares. Bank of America raised their price target on Ralph Lauren from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Citigroup upgraded shares of Ralph Lauren from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $360.00 to $400.00 in a report on Tuesday, March 24th. Telsey Advisory Group restated an “outperform” rating and issued a $435.00 target price on shares of Ralph Lauren in a report on Thursday, February 5th. Zacks Research lowered shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $403.44.

About Ralph Lauren

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.