PVH Corp (PVH) Posts Earnings Results, Beats Expectations By $0.05 EPS
PVH Corp (NYSE:PVH) announced its quarterly earnings results on Wednesday. The textile maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. PVH Corp had a net margin of 7.10% and a return on equity of 12.15%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.50 earnings per share. PVH Corp updated its FY18 guidance to $7.40-7.50 EPS.
Shares of PVH Corp (NYSE:PVH) traded down 0.33% during mid-day trading on Wednesday, hitting $102.04. 2,436,554 shares of the company were exchanged. PVH Corp has a 12-month low of $83.80 and a 12-month high of $115.40. The firm has a market capitalization of $7.98 billion, a P/E ratio of 15.03 and a beta of 0.67. The company’s 50-day moving average price is $101.15 and its 200-day moving average price is $97.66. PVH Corp also saw unusually large options trading activity on Tuesday. Stock investors acquired 7,879 put options on the company. This is an increase of approximately 1,473% compared to the average daily volume of 501 put options.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Thursday, May 18th will be issued a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Tuesday, May 16th. PVH Corp’s dividend payout ratio is currently 2.10%.
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In other news, CEO Daniel Grieder sold 18,701 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.43, for a total transaction of $1,934,244.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Fischer sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $101.72, for a total transaction of $101,720.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
A number of brokerages have commented on PVH. Wells Fargo & Co restated an “outperform” rating and set a $126.00 price target on shares of PVH Corp in a research note on Thursday, March 23rd. Zacks Investment Research cut shares of PVH Corp from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Evercore ISI cut shares of PVH Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 1st. Credit Suisse Group AG set a $121.00 price target on shares of PVH Corp and gave the stock a “hold” rating in a research note on Monday, March 20th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $112.00 price target on shares of PVH Corp in a research note on Thursday, March 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. PVH Corp has an average rating of “Buy” and a consensus price target of $118.20.
About PVH Corp
PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
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