PVH (NYSE:PVH) Issues Quarterly Earnings Results, Beats Estimates By $0.62 EPS

PVH (NYSE:PVH) issued its earnings results on Wednesday. The textile maker reported $3.70 EPS for the quarter, beating the consensus estimate of $3.08 by $0.62, FiscalAI reports. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. PVH had a return on equity of 10.87% and a net margin of 1.76%.

PVH Stock Performance

Shares of NYSE:PVH traded down $0.43 during midday trading on Wednesday, hitting $72.44. The company had a trading volume of 1,514,293 shares, compared to its average volume of 1,068,784. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.09 and a beta of 1.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.68 and a quick ratio of 0.93. The company has a fifty day moving average of $79.47 and a two-hundred day moving average of $79.10. PVH has a 12-month low of $59.60 and a 12-month high of $100.75.

PVH Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.2%. PVH’s payout ratio is presently 4.75%.

Hedge Funds Weigh In On PVH

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of PVH by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,055,544 shares of the textile maker’s stock valued at $204,786,000 after buying an additional 54,635 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of PVH by 15.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 853,542 shares of the textile maker’s stock worth $71,501,000 after acquiring an additional 117,187 shares during the period. Goldman Sachs Group Inc. grew its position in shares of PVH by 79.8% during the first quarter. Goldman Sachs Group Inc. now owns 553,500 shares of the textile maker’s stock worth $35,778,000 after purchasing an additional 245,740 shares in the last quarter. Quantedge Capital Pte Ltd raised its stake in PVH by 34.2% during the 4th quarter. Quantedge Capital Pte Ltd now owns 470,000 shares of the textile maker’s stock valued at $31,499,000 after purchasing an additional 119,700 shares during the period. Finally, Bragg Financial Advisors Inc lifted its holdings in PVH by 3.8% in the 2nd quarter. Bragg Financial Advisors Inc now owns 397,242 shares of the textile maker’s stock worth $27,251,000 after purchasing an additional 14,626 shares in the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PVH shares. The Goldman Sachs Group lowered their price target on PVH from $93.00 to $87.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Needham & Company LLC lowered their target price on shares of PVH from $107.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. Weiss Ratings downgraded shares of PVH from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $84.00 price objective (up from $70.00) on shares of PVH in a report on Tuesday, August 4th. Finally, Wells Fargo & Company dropped their target price on shares of PVH from $85.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $86.82.

About PVH

PVH Corp is a leading global apparel company known for its portfolio of iconic brands in the dress shirt, sportswear and lifestyle categories. The company designs, markets and distributes clothing, accessories and fragrances under both owned and licensed brands. PVH’s core brand holdings include Calvin Klein and Tommy Hilfiger, complemented by a range of heritage labels such as Van Heusen, IZOD, ARROW, Warner’s and Olga.

PVH’s operations span the entire value chain from product design and development to manufacturing, marketing and distribution.