PVH (NYSE:PVH) Posts Quarterly Earnings Results

PVH (NYSE:PVH) released its quarterly earnings results on Tuesday. The textile maker reported $3.72 EPS for the quarter, topping the consensus estimate of $3.51 by $0.21, Briefing.com reports. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.38 earnings per share.

PVH Trading Down 2.9 %

Shares of NYSE:PVH opened at $105.49 on Thursday. The firm has a fifty day moving average of $130.42 and a two-hundred day moving average of $106.86. 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 12-month low of $69.27 and a 12-month high of $141.15. The firm has a market capitalization of $6.29 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.64 and a beta of 2.20.

PVH Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.14%. PVH’s payout ratio is presently 1.38%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PVH. Citigroup decreased their price target on PVH from $139.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday. UBS Group raised their target price on shares of PVH from $158.00 to $159.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of PVH from $165.00 to $146.00 and set an “overweight” rating on the stock in a research note on Tuesday. Bank of America reduced their price objective on shares of PVH from $156.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group upgraded PVH from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $99.00 to $126.00 in a research report on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.73.

Insider Buying and Selling

In other news, EVP Mark D. Fischer sold 3,500 shares of the stock in a transaction 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 transaction, the executive vice president now owns 27,903 shares in the company, valued at approximately $3,432,069. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PVH

Several hedge funds and other institutional investors have recently modified their holdings of PVH. Quarry LP lifted its stake in shares of PVH by 81.8% in the second quarter. Quarry LP now owns 320 shares of the textile maker’s stock valued at $27,000 after buying an additional 144 shares during the period. Belpointe Asset Management LLC grew its holdings in shares of PVH by 39.8% during the 1st quarter. Belpointe Asset Management LLC now owns 492 shares of the textile maker’s stock worth $44,000 after purchasing an additional 140 shares in the last quarter. Covestor Ltd increased its position in shares of 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 purchasing an additional 244 shares during the period. Atlas Capital Advisors LLC acquired a new position in shares of PVH in the first quarter valued at $53,000. Finally, Advisory Services Network LLC bought a new position in PVH in the fourth quarter worth $104,000. Institutional investors and hedge funds own 97.25% of the company’s stock.

PVH announced that its board has initiated a share repurchase program on Monday, April 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the textile maker to buy up to 24% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

PVH Company Profile

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.