PVH (NYSE:PVH) Releases FY 2024 Earnings Guidance

PVH (NYSE:PVHGet Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 10.750-11.000 for the period, compared to the consensus estimate of 12.080. The company issued revenue guidance of $8.1 billion-$8.2 billion, compared to the consensus revenue estimate of $9.1 billion. PVH also updated its FY25 guidance to $10.75-11.00 EPS.

PVH Stock Down 2.9 %

PVH stock opened at $105.49 on Thursday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.29 billion, a PE ratio of 9.72, a PEG ratio of 0.64 and a beta of 2.20. PVH has a twelve month low of $69.27 and a twelve month high of $141.15. The stock has a 50-day simple moving average of $130.42 and a two-hundred day simple moving average of $106.86.

PVH (NYSE:PVHGet Free Report) last posted its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.21. The business had revenue of $2.49 billion during 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 company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.38 EPS. On average, equities analysts predict that PVH will post 10.88 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 paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Tuesday, March 5th. PVH’s dividend payout ratio is currently 1.38%.

PVH announced that its Board of Directors has initiated a stock buyback program on Monday, April 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the textile maker to buy up to 24% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded PVH from a hold rating to a buy rating in a report on Thursday, December 7th. Wells Fargo & Company decreased their target price on PVH from $150.00 to $138.00 and set an overweight rating for the company in a report on Tuesday. TD Cowen increased their price objective on PVH from $150.00 to $160.00 and gave the stock an outperform rating in a report on Wednesday, March 20th. The Goldman Sachs Group upgraded PVH from a neutral rating to a buy rating and raised their price target for the company from $99.00 to $126.00 in a report on Tuesday, December 12th. Finally, Citigroup reduced their price target on PVH from $139.00 to $120.00 and set a neutral rating for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $123.73.

Get Our Latest Stock Analysis on PVH

Insider Activity

In other news, EVP Mark D. Fischer sold 3,500 shares of the company’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $123.00, for a total value of $430,500.00. Following the sale, the executive vice president now owns 27,903 shares in the company, valued at $3,432,069. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On PVH

Hedge funds have recently bought and sold shares of the business. Invesco Ltd. raised its holdings in shares of PVH by 9.7% during the first quarter. Invesco Ltd. now owns 1,684,738 shares of the textile maker’s stock valued at $129,067,000 after acquiring an additional 148,917 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of PVH by 0.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,520,066 shares of the textile maker’s stock valued at $135,529,000 after purchasing an additional 6,601 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of PVH by 943.4% in the second quarter. Alliancebernstein L.P. now owns 1,353,450 shares of the textile maker’s stock valued at $115,003,000 after purchasing an additional 1,223,733 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of PVH by 2.5% in the fourth quarter. AQR Capital Management LLC now owns 1,261,565 shares of the textile maker’s stock valued at $88,045,000 after purchasing an additional 30,385 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of PVH by 37.0% in the first quarter. Deutsche Bank AG now owns 822,183 shares of the textile maker’s stock valued at $73,306,000 after purchasing an additional 222,064 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

About PVH

(Get Free Report)

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.

See Also

Earnings History and Estimates for PVH (NYSE:PVH)

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