PVH (NYSE:PVH) Announces Quarterly Earnings Results

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

PVH Stock Up 0.9 %

Shares of NYSE PVH traded up $0.90 during midday trading on Thursday, hitting $106.39. The company’s stock had a trading volume of 2,157,121 shares, compared to its average volume of 949,405. The business’s fifty day simple moving average is $130.42 and its two-hundred day simple moving average is $106.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 0.66. PVH has a 1 year low of $69.27 and a 1 year high of $141.15. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 9.96, 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. Stockholders of record on Wednesday, March 6th were paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Tuesday, March 5th. PVH’s payout ratio is 1.38%.

Insider Activity

In other news, EVP Mark D. Fischer sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were 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 $3,432,069. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Private Capital Management LLC purchased a new position in PVH in the first quarter worth approximately $214,000. MML Investors Services LLC purchased a new position in PVH in the first quarter worth approximately $208,000. Profund Advisors LLC purchased a new position in PVH in the fourth quarter worth approximately $205,000. CIBC Asset Management Inc purchased a new position in PVH in the fourth quarter worth approximately $203,000. Finally, Federated Hermes Inc. raised its holdings in PVH by 44.0% during the first quarter. Federated Hermes Inc. now owns 2,512 shares of the textile maker’s stock worth $193,000 after purchasing an additional 767 shares in the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Analyst Ratings Changes

PVH has been the subject of several analyst reports. Guggenheim raised their target price on shares of PVH from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com upgraded shares of PVH from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. TD Cowen raised their target price on shares of PVH from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Wells Fargo & Company lowered their target price on shares of PVH from $150.00 to $138.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, UBS Group lifted their price objective on shares of PVH from $158.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, PVH has a consensus rating of “Moderate Buy” and a consensus target price of $126.00.

PVH declared that its board has approved a stock buyback plan on Monday, April 1st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the textile maker to buy up to 24% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.