PVH (NYSE:PVH) Posts Quarterly Earnings Results, Beats Expectations By $0.62 EPS

PVH (NYSE:PVHGet Free Report) released its quarterly 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. PVH had a net margin of 1.76% and a return on equity of 10.87%.

PVH Stock Down 0.6%

Shares of PVH traded down $0.43 during midday trading on Wednesday, hitting $72.44. The company had a trading volume of 1,466,074 shares, compared to its average volume of 1,065,312. The company’s 50-day simple moving average is $79.47 and its 200-day simple moving average is $79.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.93 and a current ratio of 1.68. The firm has a market capitalization of $3.34 billion, a P/E ratio of 22.93, a P/E/G ratio of 1.09 and a beta of 1.72. PVH has a 1 year low of $59.60 and a 1 year high of $100.75.

PVH Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be given a $0.0375 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.15 dividend on an annualized basis and a yield of 0.2%. PVH’s dividend payout ratio (DPR) is currently 4.75%.

Institutional Trading of PVH

Hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PVH by 26.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,931 shares of the textile maker’s stock valued at $1,612,000 after purchasing an additional 5,240 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of PVH by 79.8% during the 1st 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 during the last quarter. Caxton Associates LLP acquired a new position in shares of PVH during the first quarter worth $226,000. United Services Automobile Association acquired a new position in shares of PVH during the first quarter worth $240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in PVH by 9.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,847 shares of the textile maker’s stock worth $22,873,000 after purchasing an additional 30,077 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

Analyst Ratings Changes

PVH has been the topic of several research analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $84.00 price objective (up from $70.00) on shares of PVH in a report on Tuesday, August 4th. Evercore set a $79.00 price target on shares of PVH and gave the company an “in-line” rating in a research note on Thursday, June 4th. Citigroup restated a “buy” rating on shares of PVH in a report on Friday, June 5th. Bank of America reaffirmed an “underperform” rating and set a $70.00 price objective (down from $90.00) on shares of PVH in a research report on Thursday, June 25th. Finally, BTIG Research restated a “buy” rating and set a $100.00 price target on shares of PVH in a research note 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PVH presently has a consensus rating of “Hold” and an average target price of $86.82.

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About PVH

(Get Free Report)

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.

See Also

Earnings History for PVH (NYSE:PVH)

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