FY2017 EPS Estimates for V.F. Corporation Increased by DA Davidson (VFC)
V.F. Corporation (NYSE:VFC) – Research analysts at DA Davidson boosted their FY2017 earnings per share estimates for shares of V.F. Corporation in a research note issued on Monday. DA Davidson analyst A. Burns now forecasts that the textile maker will post earnings of $2.96 per share for the year, up from their previous estimate of $2.94. DA Davidson also issued estimates for V.F. Corporation’s Q4 2017 earnings at $1.07 EPS and FY2018 earnings at $3.37 EPS.
V.F. Corporation (NYSE:VFC) last posted its quarterly earnings results on Monday, July 24th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS.
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A number of other brokerages also recently commented on VFC. Vetr downgraded V.F. Corporation from a “sell” rating to a “strong sell” rating and set a $49.00 price objective for the company. in a research report on Tuesday, April 18th. TheStreet upgraded V.F. Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, July 13th. Macquarie reiterated an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of V.F. Corporation in a research report on Tuesday, July 25th. B. Riley restated a “neutral” rating and set a $53.00 target price on shares of V.F. Corporation in a research report on Sunday, April 30th. Finally, Bank of America Corporation restated an “underperform” rating and set a $50.00 target price (up previously from $47.00) on shares of V.F. Corporation in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. V.F. Corporation currently has an average rating of “Hold” and a consensus target price of $60.15.
V.F. Corporation (NYSE VFC) opened at 63.90 on Wednesday. V.F. Corporation has a 52 week low of $48.05 and a 52 week high of $65.20. The company’s 50-day moving average price is $59.34 and its 200-day moving average price is $55.13. The company has a market capitalization of $25.15 billion, a P/E ratio of 24.38 and a beta of 0.78.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in V.F. Corporation by 1,744.1% in the first quarter. BlackRock Inc. now owns 19,467,773 shares of the textile maker’s stock valued at $1,070,143,000 after buying an additional 18,412,097 shares during the period. Wellington Management Group LLP boosted its stake in V.F. Corporation by 13.9% in the first quarter. Wellington Management Group LLP now owns 33,920,937 shares of the textile maker’s stock valued at $1,864,633,000 after buying an additional 4,129,477 shares during the period. Parnassus Investments CA boosted its stake in V.F. Corporation by 25.5% in the first quarter. Parnassus Investments CA now owns 13,480,236 shares of the textile maker’s stock valued at $724,090,000 after buying an additional 2,740,485 shares during the period. Victory Capital Management Inc. boosted its stake in V.F. Corporation by 12,957.2% in the first quarter. Victory Capital Management Inc. now owns 2,675,683 shares of the textile maker’s stock valued at $147,083,000 after buying an additional 2,655,191 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in V.F. Corporation by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 5,808,796 shares of the textile maker’s stock valued at $319,309,000 after buying an additional 1,017,375 shares during the period.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 8th will be paid a $0.42 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.63%. V.F. Corporation’s dividend payout ratio (DPR) is currently 64.86%.
About V.F. Corporation
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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