PVH Corp. to Post Q3 2024 Earnings of $2.70 Per Share, Telsey Advisory Group Forecasts (NYSE:PVH)

PVH Corp. (NYSE:PVH) – Investment analysts at Telsey Advisory Group dropped their Q3 2024 earnings estimates for PVH in a report released on Thursday, August 31st. Telsey Advisory Group analyst D. Telsey now expects that the textile maker will post earnings per share of $2.70 for the quarter, down from their previous forecast of $3.12. Telsey Advisory Group currently has a “Outperform” rating and a $102.00 price objective on the stock. The consensus estimate for PVH’s current full-year earnings is $10.01 per share. Telsey Advisory Group also issued estimates for PVH’s Q4 2024 earnings at $3.57 EPS and Q3 2025 earnings at $2.97 EPS.

PVH (NYSE:PVH) last announced its earnings results on Wednesday, August 30th. The textile maker reported $1.98 EPS for the quarter, topping the consensus estimate of $1.75 by $0.23. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.19 billion. PVH had a net margin of 2.24% and a return on equity of 11.83%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company posted $2.08 earnings per share.

A number of other analysts have also issued reports on PVH. Wedbush reissued a “neutral” rating and issued a $88.00 price target on shares of PVH in a research report on Wednesday, August 30th. Morgan Stanley increased their price target on shares of PVH from $77.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday. UBS Group increased their price target on shares of PVH from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets increased their price target on shares of PVH from $81.00 to $90.00 in a research report on Thursday, June 1st. Finally, Piper Sandler raised their price objective on shares of PVH from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.83.

PVH Price Performance

NYSE PVH opened at $83.50 on Monday. The company has a 50 day simple moving average of $84.81 and a 200-day simple moving average of $83.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.40 and a quick ratio of 0.68. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 0.58 and a beta of 2.07. PVH has a 52-week low of $43.49 and a 52-week high of $94.51.

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Tuesday, September 5th. PVH’s payout ratio is 4.75%.

Institutional Trading of PVH

A number of institutional investors and hedge funds have recently modified their holdings of PVH. Raymond James & Associates increased 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 increased its position in PVH by 17.8% during the first quarter. HighTower Advisors LLC now owns 6,146 shares of the textile maker’s stock worth $472,000 after acquiring an additional 930 shares during the period. Citigroup Inc. increased its position in PVH by 29.2% during the first quarter. Citigroup Inc. now owns 35,739 shares of the textile maker’s stock worth $2,738,000 after acquiring an additional 8,081 shares during the period. PNC Financial Services Group Inc. increased its position in PVH by 2.0% during the first quarter. PNC Financial Services Group Inc. now owns 11,444 shares of the textile maker’s stock worth $877,000 after acquiring an additional 226 shares during the period. Finally, MetLife Investment Management LLC increased its position in PVH by 21.3% during 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 period. 97.25% of the stock is currently owned by institutional investors and hedge funds.

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.