Brokerages Anticipate Ralph Lauren Corporation (RL) Will Announce Quarterly Sales of $1.35 Billion
Equities analysts forecast that Ralph Lauren Corporation (NYSE:RL) will announce sales of $1.35 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ralph Lauren Corporation’s earnings. Ralph Lauren Corporation posted sales of $1.55 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.9%. The business is expected to announce its next earnings report on Wednesday, August 9th.
According to Zacks, analysts expect that Ralph Lauren Corporation will report full year sales of $1.35 billion for the current fiscal year, with estimates ranging from $5.97 billion to $6.03 billion. For the next year, analysts forecast that the business will post sales of $5.95 billion per share, with estimates ranging from $5.71 billion to $6.09 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Ralph Lauren Corporation.
Ralph Lauren Corporation (NYSE:RL) last posted its quarterly earnings results on Thursday, May 18th. The textile maker reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.11. Ralph Lauren Corporation had a negative net margin of 1.49% and a positive return on equity of 13.57%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. The business’s revenue was down 16.4% compared to the same quarter last year.
Several research analysts have weighed in on RL shares. Vetr upgraded Ralph Lauren Corporation from a “hold” rating to a “buy” rating and set a $81.53 price objective on the stock in a research report on Tuesday, March 21st. Tigress Financial started coverage on Ralph Lauren Corporation in a research report on Thursday, May 25th. They issued a “neutral” rating on the stock. Zacks Investment Research cut Ralph Lauren Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Royal Bank Of Canada started coverage on Ralph Lauren Corporation in a research report on Monday, April 10th. They issued a “sector perform” rating and a $84.00 price target on the stock. Finally, Atlantic Securities cut Ralph Lauren Corporation from a “neutral” rating to an “underweight” rating and set a $68.00 price target on the stock. in a research report on Wednesday, February 22nd. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $90.37.
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Large investors have recently modified their holdings of the company. Comerica Bank increased its stake in shares of Ralph Lauren Corporation by 2.1% in the fourth quarter. Comerica Bank now owns 13,861 shares of the textile maker’s stock worth $1,196,000 after buying an additional 287 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Ralph Lauren Corporation during the first quarter worth $580,000. Trexquant Investment LP increased its stake in shares of Ralph Lauren Corporation by 34.1% in the first quarter. Trexquant Investment LP now owns 5,900 shares of the textile maker’s stock worth $482,000 after buying an additional 1,500 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Ralph Lauren Corporation during the fourth quarter worth $6,322,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Ralph Lauren Corporation by 113.7% in the first quarter. JPMorgan Chase & Co. now owns 2,469,782 shares of the textile maker’s stock worth $201,582,000 after buying an additional 1,314,237 shares during the last quarter. Institutional investors and hedge funds own 58.12% of the company’s stock.
Shares of Ralph Lauren Corporation (NYSE:RL) opened at 70.48 on Wednesday. Ralph Lauren Corporation has a 1-year low of $66.06 and a 1-year high of $114.00. The firm’s 50-day moving average is $72.68 and its 200-day moving average is $81.80. The firm’s market cap is $5.71 billion.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, June 28th. Ralph Lauren Corporation’s dividend payout ratio is currently -163.93%.
About Ralph Lauren Corporation
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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