PVH (NYSE:PVH) Releases FY 2024 Earnings Guidance

PVH (NYSE:PVH) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 10.750-11.000 for the period, compared to the consensus earnings per share 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 0.7 %

PVH stock traded down $0.95 during midday trading on Monday, hitting $139.66. The stock had a trading volume of 2,955,771 shares, compared to its average volume of 809,866. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 0.66. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 0.75 and a beta of 2.20. The business has a 50-day moving average of $130.48 and a two-hundred day moving average of $106.24. PVH has a 52-week low of $69.27 and a 52-week high of $141.15.

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

PVH Announces Dividend

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

Analysts Set New Price Targets

PVH has been the subject of a number of recent analyst reports. TD Cowen boosted their price objective on shares of PVH from $150.00 to $160.00 and gave the stock an outperform rating in a report on Wednesday, March 20th. StockNews.com upgraded PVH from a hold rating to a buy rating in a research note on Thursday, December 7th. Wells Fargo & Company lifted their price objective on shares of PVH from $110.00 to $140.00 and gave the company an overweight rating in a research report on Monday, December 11th. Telsey Advisory Group boosted their target price on PVH from $122.00 to $155.00 and gave the stock an outperform rating in a research report on Tuesday, March 26th. Finally, UBS Group raised their price objective on PVH from $125.00 to $158.00 and gave the company a buy rating in a research note on Monday, December 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, PVH currently has an average rating of Moderate Buy and a consensus target price of $117.93.

Insider Transactions at PVH

In other news, EVP Mark D. Fischer sold 3,500 shares of the business’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 completion of the transaction, the executive vice president now owns 27,903 shares of the company’s stock, valued at approximately $3,432,069. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PVH. Raymond James & Associates raised its position in PVH by 20.3% during the first quarter. Raymond James & Associates now owns 19,681 shares of the textile maker’s stock worth $1,508,000 after acquiring an additional 3,326 shares during the period. HighTower Advisors LLC boosted its holdings in PVH by 17.8% in the 1st quarter. HighTower Advisors LLC now owns 6,146 shares of the textile maker’s stock worth $472,000 after buying an additional 930 shares during the last quarter. Citigroup Inc. increased its stake in PVH by 29.2% during the 1st quarter. Citigroup Inc. now owns 35,739 shares of the textile maker’s stock worth $2,738,000 after buying an additional 8,081 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of PVH by 2.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,444 shares of the textile maker’s stock valued at $877,000 after acquiring an additional 226 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of PVH by 21.3% in the first quarter. MetLife Investment Management LLC now owns 19,033 shares of the textile maker’s stock worth $1,458,000 after acquiring an additional 3,336 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

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.