PVH (NYSE:PVH) Issues Quarterly Earnings Results, Beats Expectations By $0.21 EPS

PVH (NYSE:PVH) announced its quarterly earnings results on Tuesday. The textile maker reported $3.72 EPS for the quarter, beating the consensus estimate of $3.51 by $0.21, Briefing.com reports. PVH had a net margin of 7.20% and a return on equity of 12.96%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The firm’s revenue was up .0% on a year-over-year basis.

PVH Stock Performance

Shares of NYSE PVH traded up $0.90 during midday trading on Thursday, hitting $106.39. The company’s stock had a trading volume of 2,157,121 shares, compared to its average volume of 949,405. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 0.64 and a beta of 2.20. PVH has a one year low of $69.27 and a one year high of $141.15. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $130.42 and a 200 day moving average price of $106.86.

PVH Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.0375 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. PVH’s payout ratio is presently 1.38%.

PVH declared that its Board of Directors has approved a share repurchase plan on Monday, April 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the textile maker to reacquire up to 24% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PVH. Barclays decreased their price objective on shares of PVH from $157.00 to $149.00 and set an “overweight” rating for the company in a research note on Thursday. The Goldman Sachs Group upgraded shares of PVH from a “neutral” rating to a “buy” rating and increased their price objective for the company from $99.00 to $126.00 in a research note on Tuesday, December 12th. Morgan Stanley reduced their price target on shares of PVH from $134.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Guggenheim boosted their price objective on shares of PVH from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Citigroup lowered their price target on shares of PVH from $139.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Insiders Place Their Bets

In other news, EVP Mark D. Fischer sold 3,500 shares of PVH stock in a transaction 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 approximately $3,432,069. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PVH

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PVH. Creative Planning raised its stake in shares of PVH by 2.6% in the third quarter. Creative Planning now owns 5,074 shares of the textile maker’s stock worth $388,000 after purchasing an additional 128 shares during the last quarter. Belpointe Asset Management LLC grew its stake in shares of PVH by 39.8% during the 1st 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 during the period. Quarry LP lifted its stake in shares of PVH by 81.8% in the 2nd quarter. Quarry LP now owns 320 shares of the textile maker’s stock worth $27,000 after purchasing an additional 144 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of PVH by 2.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,417 shares of the textile maker’s stock worth $1,028,000 after buying an additional 177 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of PVH by 1.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 14,483 shares of the textile maker’s stock valued at $1,157,000 after buying an additional 200 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

PVH Company Profile

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.