PVH (NYSE:PVH) Updates Q1 Earnings Guidance

PVH (NYSE:PVH) issued an update on its first quarter earnings guidance on Monday morning. The company provided EPS guidance of $2.15 for the period, compared to the consensus EPS estimate of $2.59. The company issued revenue guidance of $1.90 billion, compared to the consensus revenue estimate of $2.08 billion. PVH also updated its FY 2024 guidance to 10.750-11.000 EPS.

Analyst Ratings Changes

PVH has been the subject of a number of recent analyst reports. StockNews.com upgraded PVH from a hold rating to a buy rating in a report on Thursday, December 7th. TD Cowen boosted their price target on PVH from $150.00 to $160.00 and gave the company an outperform rating in a research note on Wednesday, March 20th. Wells Fargo & Company raised their price objective on shares of PVH from $110.00 to $140.00 and gave the stock 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 boosted their target price for the company from $99.00 to $126.00 in a research report on Tuesday, December 12th. Finally, Telsey Advisory Group raised their price target on shares of PVH from $122.00 to $155.00 and gave the stock an outperform rating in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, PVH currently has a consensus rating of Moderate Buy and a consensus target price of $117.93.

PVH Stock Down 0.7 %

PVH stock opened at $139.66 on Tuesday. The firm has a market capitalization of $8.33 billion, a PE ratio of 16.47, a P/E/G ratio of 0.75 and a beta of 2.20. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.31. PVH has a twelve month low of $69.27 and a twelve month high of $141.15. The stock’s 50 day moving average is $130.88 and its 200-day moving average is $106.66.

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

PVH Announces Dividend

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

PVH declared that its board has initiated a stock repurchase plan on Monday, April 1st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the textile maker to repurchase up to 24% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at PVH

In other news, EVP Mark D. Fischer sold 3,500 shares of the stock in a transaction that occurred 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 transaction, 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 can be accessed through this hyperlink. 0.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PVH

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of PVH by 81.8% during the second quarter. Quarry LP now owns 320 shares of the textile maker’s stock worth $27,000 after acquiring an additional 144 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of PVH by 39.8% in the first quarter. Belpointe Asset Management LLC now owns 492 shares of the textile maker’s stock worth $44,000 after buying an additional 140 shares in the last quarter. Covestor Ltd boosted its stake in PVH by 69.3% during the first quarter. Covestor Ltd now owns 596 shares of the textile maker’s stock valued at $46,000 after buying an additional 244 shares during the period. Atlas Capital Advisors LLC purchased a new stake in PVH in the first quarter worth approximately $53,000. Finally, Advisory Services Network LLC purchased a new position in shares of PVH during the fourth quarter worth approximately $104,000. 97.25% of the stock is currently owned by institutional investors.

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.