PVH Corp Cut to Underperform at Bank of America (PVH)
PVH Corp (NYSE:PVH) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday. They currently have a $125.00 price target on the stock. Bank of America’s price objective indicates a potential downside of 2.63% from the stock’s previous close.
Shares of PVH Corp (NYSE:PVH) opened at 128.38 on Friday. PVH Corp has a 52-week low of $107.05 and a 52-week high of $138.94. The stock has a 50-day moving average of $113.7 and a 200-day moving average of $120.4. The company has a market cap of $10.572 billion and a P/E ratio of 56.70. PVH Corp also was the recipient of unusually large options trading on Wednesday. Stock investors purchased 4,556 put options on the company. This is an increase of 715% compared to the average volume of 559 put options.
PVH Corp (NYSE:PVH) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $1.51 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.39 earnings per share. On average, analysts predict that PVH Corp will post $7.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 18th. Investors of record on Thursday, August 28th will be given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, August 26th.
A number of other analysts have also recently weighed in on PVH. Analysts at Janney Montgomery Scott raised their price target on shares of PVH Corp from $144.00 to $150.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of PVH Corp in a research note on Thursday. Finally, 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $140.80.
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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