Wedbush Weighs in on PVH Corp.’s FY2024 Earnings (NYSE:PVH)

PVH Corp. (NYSE:PVHGet Rating) – Analysts at Wedbush upped their FY2024 EPS estimates for PVH in a report issued on Thursday, April 14th. Wedbush analyst T. Nikic now forecasts that the textile maker will post earnings per share of $10.62 for the year, up from their prior estimate of $9.92. Wedbush currently has a “Neutral” rating and a $85.00 target price on the stock.

PVH (NYSE:PVHGet Rating) last released its quarterly earnings data on Tuesday, March 29th. The textile maker reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.84. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.38 billion. PVH had a return on equity of 14.34% and a net margin of 10.40%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company posted ($0.38) EPS.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PVH from $125.00 to $99.00 and set a “hold” rating on the stock in a report on Friday, April 1st. Zacks Investment Research lowered PVH from a “hold” rating to a “sell” rating and set a $89.00 price target for the company. in a report on Monday, March 28th. The Goldman Sachs Group cut their price target on PVH from $140.00 to $121.00 and set a “buy” rating for the company in a report on Friday, April 1st. Barclays decreased their target price on shares of PVH from $103.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 31st. Finally, Truist Financial cut their price objective on PVH from $100.00 to $81.00 and set a “hold” rating for the company in a report on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $110.29.

Shares of PVH opened at $79.34 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.83 and a debt-to-equity ratio of 0.44. PVH has a 1-year low of $66.10 and a 1-year high of $125.42. The stock has a market capitalization of $5.40 billion, a P/E ratio of 5.96, a P/E/G ratio of 1.50 and a beta of 2.20. The business’s 50-day moving average price is $85.46 and its 200 day moving average price is $99.40.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Stockholders of record on Friday, March 11th were given a $0.038 dividend. The ex-dividend date of this dividend was Thursday, March 10th. This is a boost from PVH’s previous quarterly dividend of $0.04. This represents a $0.15 annualized dividend and a dividend yield of 0.19%. PVH’s payout ratio is presently 1.13%.

Several hedge funds have recently bought and sold shares of PVH. Pzena Investment Management LLC boosted its holdings in shares of PVH by 3.4% during the 4th quarter. Pzena Investment Management LLC now owns 7,775,831 shares of the textile maker’s stock valued at $829,292,000 after acquiring an additional 252,310 shares in the last quarter. Lone Pine Capital LLC boosted its position in PVH by 21.2% during the 3rd quarter. Lone Pine Capital LLC now owns 3,297,609 shares of the textile maker’s stock worth $338,961,000 after buying an additional 577,900 shares during the period. Egerton Capital UK LLP acquired a new position in PVH in the 3rd quarter valued at approximately $259,733,000. State Street Corp raised its stake in shares of PVH by 3.9% during the fourth quarter. State Street Corp now owns 2,396,147 shares of the textile maker’s stock valued at $255,549,000 after acquiring an additional 89,620 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of PVH by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,886,039 shares of the textile maker’s stock worth $201,143,000 after purchasing an additional 88,512 shares during the period. 99.58% of the stock is owned by hedge funds and other institutional investors.

PVH Company Profile (Get Rating)

PVH Corp. operates as an apparel company worldwide. 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, including 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.

Further Reading

Earnings History and Estimates for PVH (NYSE:PVH)

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