Ralph Lauren Co. (NYSE:RL) to Post Q3 2023 Earnings of $3.31 Per Share, Telsey Advisory Group Forecasts

Ralph Lauren Co. (NYSE:RLGet Rating) – Equities researchers at Telsey Advisory Group lifted their Q3 2023 earnings per share estimates for shares of Ralph Lauren in a note issued to investors on Wednesday, May 25th. Telsey Advisory Group analyst D. Telsey now expects that the textile maker will post earnings per share of $3.31 for the quarter, up from their previous forecast of $3.27. Telsey Advisory Group has a “Outperform” rating and a $140.00 price target on the stock. Telsey Advisory Group also issued estimates for Ralph Lauren’s FY2024 earnings at $9.40 EPS.

Ralph Lauren (NYSE:RLGet Rating) last issued its quarterly earnings results on Tuesday, May 24th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.13. Ralph Lauren had a net margin of 8.38% and a return on equity of 22.59%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $0.38 earnings per share. The business’s revenue was up 18.7% compared to the same quarter last year.

A number of other equities analysts also recently weighed in on RL. Credit Suisse Group cut their price target on shares of Ralph Lauren from $165.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Ralph Lauren from $116.00 to $101.00 in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of Ralph Lauren to $95.00 in a report on Wednesday. Citigroup lowered shares of Ralph Lauren from a “buy” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $98.00 in a report on Monday. Finally, UBS Group lifted their price objective on shares of Ralph Lauren from $168.00 to $171.00 and gave the company a “buy” rating in a research report on Monday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $126.07.

RL stock opened at $93.69 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.50. The firm has a market capitalization of $6.67 billion, a PE ratio of 14.05 and a beta of 1.38. The company’s 50 day simple moving average is $106.71 and its 200-day simple moving average is $114.57. Ralph Lauren has a 12 month low of $86.55 and a 12 month high of $135.99.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.20%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Thursday, June 30th. Ralph Lauren’s payout ratio is 41.23%.

Ralph Lauren announced that its board has authorized a stock buyback plan on Thursday, February 3rd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the textile maker to reacquire up to 17.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley lifted its position in shares of Ralph Lauren by 58.3% in the 2nd quarter. Morgan Stanley now owns 202,492 shares of the textile maker’s stock valued at $23,855,000 after acquiring an additional 74,615 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Ralph Lauren by 22.0% in the third quarter. Raymond James & Associates now owns 3,808 shares of the textile maker’s stock valued at $423,000 after purchasing an additional 687 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Ralph Lauren by 3.8% in the third quarter. Principal Financial Group Inc. now owns 63,525 shares of the textile maker’s stock worth $7,054,000 after buying an additional 2,299 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Ralph Lauren by 392.1% during the third quarter. Goldman Sachs Group Inc. now owns 528,841 shares of the textile maker’s stock valued at $58,722,000 after buying an additional 421,376 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Ralph Lauren by 37.1% in the third quarter. US Bancorp DE now owns 9,585 shares of the textile maker’s stock worth $1,064,000 after acquiring an additional 2,593 shares during the last quarter. 99.89% of the stock is currently owned by institutional investors.

Ralph Lauren Company Profile (Get Rating)

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, lighting, tabletop, floor coverings, and giftware; and fragrances.

Further Reading

Earnings History and Estimates for Ralph Lauren (NYSE:RL)

Receive News & Ratings for Ralph Lauren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ralph Lauren and related companies with MarketBeat.com's FREE daily email newsletter.