PVH Corp Shares Down 6.4% Following Weak Earnings (PVH)
PVH Corp (NYSE:PVH) dropped 6.4% during mid-day trading on Thursday following a dissappointing earnings announcement, Stock Ratings Network reports. The company traded as low as $119.57 and last traded at $122.32, with a volume of 3,564,466 shares traded. The stock had previously closed at $130.68.
The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 19th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Wednesday, May 21st.
A number of analysts have recently weighed in on PVH shares. Analysts at ISI Group downgraded shares of PVH Corp from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Separately, analysts at Brean Capital cut their price target on shares of PVH Corp from $150.00 to $145.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of PVH Corp from $140.00 to $145.00 in a research note on Tuesday, May 27th. They now have an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $144.36.
The stock has a 50-day moving average of $128. and a 200-day moving average of $126.4. The company has a market cap of $9.996 billion and a price-to-earnings ratio of 75.23.
PVH Corporation manufactures and sells dress shirts, sportswear and footwear for men, women and children.
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