PVH (NYSE:PVH) Issues Q1 Earnings Guidance

PVH (NYSE:PVHGet Free Report) issued an update on its first quarter earnings guidance on Monday morning. The company provided EPS guidance of $2.15 for the period, compared to the consensus EPS estimate of $2.59. The company issued revenue guidance of $1.90 billion, compared to the consensus revenue estimate of $2.08 billion. PVH also updated its FY 2024 guidance to 10.750-11.000 EPS.

PVH Price Performance

Shares of PVH stock opened at $108.68 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.18. The firm’s 50-day simple moving average is $130.67 and its 200-day simple moving average is $106.87. PVH has a twelve month low of $69.27 and a twelve month high of $141.15. The firm has a market cap of $6.48 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.74 and a beta of 2.20.

PVH (NYSE:PVHGet Free Report) last issued its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.21. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.42 billion. PVH had a net margin of 7.20% and a return on equity of 12.99%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $2.38 EPS. As a group, research analysts expect that PVH will post 11.95 EPS for the current fiscal year.

PVH Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.0375 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. PVH’s dividend payout ratio (DPR) is presently 1.77%.

PVH declared that its board has approved a share buyback plan on Monday, April 1st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the textile maker to purchase up to 24% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have commented on PVH. TD Cowen boosted their price target on shares of PVH from $150.00 to $160.00 and gave the company an outperform rating in a research report on Wednesday, March 20th. Wells Fargo & Company reduced their price target on shares of PVH from $150.00 to $138.00 and set an overweight rating on the stock in a research report on Tuesday. Guggenheim boosted their target price on shares of PVH from $120.00 to $140.00 and gave the stock a buy rating in a research note on Tuesday. The Goldman Sachs Group raised shares of PVH from a neutral rating to a buy rating and boosted their target price for the stock from $99.00 to $126.00 in a research note on Tuesday, December 12th. Finally, StockNews.com raised shares of PVH from a hold rating to a buy rating in a research note on Thursday, December 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $121.86.

View Our Latest Report on PVH

Insider Buying and Selling

In related news, EVP Mark D. Fischer sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $123.00, for a total transaction of $430,500.00. Following the completion of the sale, the executive vice president now directly owns 27,903 shares of the company’s stock, valued at $3,432,069. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PVH

A number of institutional investors and hedge funds have recently modified their holdings of PVH. Quarry LP increased its stake in PVH by 81.8% in the second quarter. Quarry LP now owns 320 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. Belpointe Asset Management LLC increased its stake in PVH by 39.8% in the first quarter. Belpointe Asset Management LLC now owns 492 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 140 shares in the last quarter. Covestor Ltd increased its stake in PVH by 69.3% in the first quarter. Covestor Ltd now owns 596 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 244 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in PVH in the first quarter valued at approximately $53,000. Finally, Advisory Services Network LLC bought a new stake in PVH in the fourth quarter valued at approximately $104,000. 97.25% of the stock is owned by institutional investors.

About PVH

(Get Free Report)

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.

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Earnings History and Estimates for PVH (NYSE:PVH)

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