Ralph Lauren Corporation (NYSE:RL) Releases Earnings Results, Beats Expectations By $0.15 EPS
Ralph Lauren Corporation (NYSE:RL) posted its earnings results on Tuesday. The textile maker reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.15, Bloomberg Earnings reports. Ralph Lauren Corporation had a positive return on equity of 13.57% and a negative net margin of 1.49%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year.
Shares of Ralph Lauren Corporation (RL) traded up 10.20% during mid-day trading on Tuesday, hitting $86.12. The company had a trading volume of 2,878,395 shares. The firm’s market cap is $6.98 billion. The firm’s 50 day moving average is $72.80 and its 200-day moving average is $77.30. Ralph Lauren Corporation has a 12-month low of $66.06 and a 12-month high of $114.00.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Wednesday, June 28th. Ralph Lauren Corporation’s dividend payout ratio is presently -163.93%.
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A number of institutional investors have recently modified their holdings of the stock. Intellectus Partners LLC raised its position in shares of Ralph Lauren Corporation by 18.2% in the first quarter. Intellectus Partners LLC now owns 1,300 shares of the textile maker’s stock valued at $107,000 after buying an additional 200 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Ralph Lauren Corporation during the first quarter valued at $110,000. Daiwa Securities Group Inc. raised its stake in Ralph Lauren Corporation by 21.4% in the first quarter. Daiwa Securities Group Inc. now owns 1,700 shares of the textile maker’s stock valued at $139,000 after buying an additional 300 shares in the last quarter. Pacer Advisors Inc. raised its stake in Ralph Lauren Corporation by 97.0% in the first quarter. Pacer Advisors Inc. now owns 1,988 shares of the textile maker’s stock valued at $162,000 after buying an additional 979 shares in the last quarter. Finally, Engine Capital Management LLC bought a new stake in Ralph Lauren Corporation during the first quarter valued at $163,000. Hedge funds and other institutional investors own 58.45% of the company’s stock.
RL has been the subject of a number of recent research reports. Vetr lowered Ralph Lauren Corporation from a “hold” rating to a “sell” rating and set a $77.89 target price for the company. in a research note on Monday, April 10th. Royal Bank Of Canada initiated coverage on Ralph Lauren Corporation in a research note on Monday, April 10th. They issued a “sector perform” rating and a $84.00 target price for the company. Cowen and Company reiterated a “market perform” rating and issued a $84.00 target price on shares of Ralph Lauren Corporation in a research note on Sunday, April 23rd. Zacks Investment Research upgraded Ralph Lauren Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $78.00 target price (down previously from $82.00) on shares of Ralph Lauren Corporation in a research note on Friday, May 19th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. Ralph Lauren Corporation currently has an average rating of “Hold” and an average price target of $86.77.
Ralph Lauren Corporation Company Profile
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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