PVH (NYSE:PVH) Posts Quarterly Earnings Results, Beats Estimates By $0.44 EPS

PVH (NYSE:PVH) released its quarterly earnings results on Wednesday. The textile maker reported $3.03 EPS for the quarter, topping the consensus estimate of $2.59 by $0.44, Briefing.com reports. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.22 billion. PVH had a return on equity of 13.94% and a net margin of 8.37%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.90 EPS. PVH updated its Q4 guidance to $3.05-3.20 EPS.

PVH Trading Up 1.1 %

Shares of PVH traded up $1.27 during midday trading on Wednesday, hitting $112.86. 1,500,937 shares of the stock were exchanged, compared to its average volume of 836,596. PVH has a 52-week low of $89.56 and a 52-week high of $141.15. The stock has a fifty day simple moving average of $100.14 and a 200 day simple moving average of $103.03. The firm has a market cap of $6.30 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.00 and a beta of 2.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 1.24.

PVH Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.0375 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. PVH’s dividend payout ratio is currently 1.19%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Morgan Stanley reduced their target price on PVH from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, September 6th. Bank of America downgraded PVH from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $107.00 in a research report on Wednesday, October 2nd. Telsey Advisory Group reiterated an “outperform” rating and set a $130.00 price target on shares of PVH in a research report on Wednesday, November 27th. The Goldman Sachs Group lowered their price target on PVH from $144.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Barclays lowered their price target on PVH from $154.00 to $142.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, PVH has an average rating of “Moderate Buy” and an average target price of $126.53.

About PVH

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.