PVH (NYSE:PVH) Updates Q1 2024 Earnings Guidance

PVH (NYSE:PVH) issued an update on its first quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.150-2.150 for the period, compared to the consensus earnings per share estimate of 2.590. The company issued revenue guidance of $1.9 billion-$1.9 billion, compared to the consensus revenue estimate of $2.1 billion. PVH also updated its FY 2024 guidance to 10.750-11.000 EPS.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group lifted their price target on PVH from $125.00 to $158.00 and gave the company a buy rating in a research note on Monday, December 4th. Wells Fargo & Company increased their price target on PVH from $110.00 to $140.00 and gave the company an overweight rating in a research report on Monday, December 11th. The Goldman Sachs Group upgraded shares of PVH from a neutral rating to a buy rating and lifted their target price for the stock from $99.00 to $126.00 in a research note on Tuesday, December 12th. Telsey Advisory Group boosted their target price on shares of PVH from $122.00 to $155.00 and gave the company an outperform rating in a report on Tuesday, March 26th. Finally, StockNews.com raised PVH from a hold rating to a buy rating in a report on Thursday, December 7th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $117.93.

PVH Stock Down 0.7 %

Shares of PVH stock traded down $0.95 during midday trading on Monday, hitting $139.66. The company had a trading volume of 2,955,771 shares, compared to its average volume of 809,866. The company has a 50 day moving average of $130.48 and a 200 day moving average of $106.24. The stock has a market capitalization of $8.33 billion, a P/E ratio of 16.47, a P/E/G ratio of 0.75 and a beta of 2.20. PVH has a 52-week low of $69.27 and a 52-week high of $141.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.18.

PVH (NYSE:PVH) last issued its quarterly earnings data on Monday, April 1st. The textile maker reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.23. PVH had a net margin of 5.76% and a return on equity of 11.63%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the business earned $2.38 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts predict that PVH will post 10.48 earnings per share for the current fiscal year.

PVH Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.11%. The ex-dividend date was Tuesday, March 5th. PVH’s dividend payout ratio is 1.77%.

Insider Transactions at PVH

In other news, EVP Mark D. Fischer sold 3,500 shares of PVH stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $123.00, for a total value of $430,500.00. Following the transaction, the executive vice president now owns 27,903 shares of the company’s stock, valued at approximately $3,432,069. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On PVH

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in PVH by 6.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,086 shares of the textile maker’s stock valued at $5,141,000 after purchasing an additional 2,620 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in PVH by 2.1% during the 4th 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 in the last quarter. Chartwell Investment Partners LLC purchased a new stake in PVH during the 4th quarter worth approximately $696,000. Virtue Capital Management LLC purchased a new position in shares of PVH in the fourth quarter valued at approximately $592,000. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of PVH in the fourth quarter valued at about $461,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.

About PVH

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.