Ralph Lauren (NYSE:RL) Releases Earnings Results, Beats Estimates By $0.34 EPS

Ralph Lauren (NYSE:RL) posted its quarterly earnings data on Thursday. The textile maker reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.34, Zacks reports. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm posted $2.54 EPS. The company’s quarterly revenue was up 16.5% on a year-over-year basis.

Ralph Lauren Trading Up 3.2%

Shares of Ralph Lauren stock traded up $9.94 on Friday, hitting $324.98. The stock had a trading volume of 665,349 shares, compared to its average volume of 799,810. The stock’s 50-day simple moving average is $318.27 and its two-hundred day simple moving average is $290.46. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.63 and a beta of 1.61. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. Ralph Lauren has a one year low of $176.61 and a one year high of $341.90.

Ralph Lauren Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, September 26th. Ralph Lauren’s dividend payout ratio (DPR) is presently 26.98%.

Hedge Funds Weigh In On Ralph Lauren

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ralph Lauren by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker’s stock worth $758,000 after buying an additional 174 shares during the last quarter. Empowered Funds LLC lifted its position in Ralph Lauren by 0.9% during the first quarter. Empowered Funds LLC now owns 12,334 shares of the textile maker’s stock valued at $2,723,000 after acquiring an additional 114 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Ralph Lauren by 39.5% during the first quarter. Woodline Partners LP now owns 3,369 shares of the textile maker’s stock worth $744,000 after buying an additional 954 shares during the period. Focus Partners Wealth boosted its holdings in Ralph Lauren by 29.5% in the first quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker’s stock valued at $841,000 after purchasing an additional 869 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Ralph Lauren in the second quarter valued at $386,000. 67.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RL shares. Evercore ISI boosted their target price on shares of Ralph Lauren from $340.00 to $375.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. BTIG Research began coverage on Ralph Lauren in a research report on Tuesday, October 14th. They issued a “buy” rating and a $400.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Ralph Lauren in a research report on Wednesday, October 8th. Zacks Research upgraded Ralph Lauren to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Barclays boosted their price target on Ralph Lauren from $352.00 to $358.00 and gave the company an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $347.13.

About Ralph Lauren

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.