PVH Corp Trading 9.4% Higher After Strong Earnings (PVH)
PVH Corp (NYSE:PVH) traded up 9.4% during mid-day trading on Thursday after the company announced better than expected quarterly earnings, AnalystRatings.NET reports. The stock traded as high as $129.94 and last traded at $128.19, with a volume of 2,720,996 shares changing hands. The stock had previously closed at $117.13.
The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.09. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 18th. Investors of record on Thursday, August 28th will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Tuesday, August 26th.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of PVH Corp in a research note on Thursday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of PVH Corp in a research note on Thursday, July 24th. They now have a $117.00 price target on the stock. Finally, analysts at Oppenheimer upgraded shares of PVH Corp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 15th. They now have a $80.00 price target on the stock, up previously from $1.00. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. PVH Corp presently has a consensus rating of “Buy” and an average price target of $140.67.
The stock’s 50-day moving average is $113.1 and its 200-day moving average is $120.3. The company has a market cap of $10.574 billion and a P/E ratio of 51.74. PVH Corp also was the recipient of unusually large options trading on Wednesday. Stock investors acquired 4,556 put options on the company. This represents an increase of 715% compared to the typical volume of 559 put options.
PVH Corp., is an apparel company. The Company’s portfolio of brands includes Calvin Klein, Tommy Hilfiger brands, Van Heusen, IZOD, Bass, ARROW and Eagle, which are owned brands, and Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, JOE Joseph Abboud, MICHAEL Michael Kors, Michael Kors Collection, CHAPS, Donald J.
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