V.F. Corporation (VFC) Updates FY17 Earnings Guidance
V.F. Corporation (NYSE:VFC) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of ~$3.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.01. The company issued revenue guidance of ~$12.1 billion, compared to the consensus revenue estimate of $11.93 billion.
Shares of V.F. Corporation (NYSE VFC) opened at 66.38 on Monday. The stock has a market cap of $26.13 billion, a price-to-earnings ratio of 25.33 and a beta of 0.77. V.F. Corporation has a one year low of $48.05 and a one year high of $66.97. The company has a 50-day moving average of $63.59 and a 200 day moving average of $58.78.
V.F. Corporation (NYSE:VFC) last released its earnings results on Monday, October 23rd. The textile maker reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the company earned $1.20 earnings per share. V.F. Corporation’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that V.F. Corporation will post $2.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Friday, December 8th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.77%. This is a boost from V.F. Corporation’s previous quarterly dividend of $0.42. V.F. Corporation’s dividend payout ratio (DPR) is currently 64.86%.
VFC has been the subject of a number of research analyst reports. TheStreet upgraded V.F. Corporation from a c+ rating to a b- rating in a research report on Thursday, July 13th. Canaccord Genuity upgraded V.F. Corporation from a hold rating to a buy rating and raised their price target for the company from $58.00 to $73.00 in a research report on Monday, August 14th. UBS AG raised their price target on V.F. Corporation from $59.00 to $66.00 and gave the company a buy rating in a research report on Tuesday, July 25th. Pivotal Research initiated coverage on V.F. Corporation in a research report on Thursday, October 5th. They issued a buy rating and a $75.00 price target for the company. Finally, Susquehanna Bancshares Inc restated a buy rating and issued a $75.00 price target on shares of V.F. Corporation in a research report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. V.F. Corporation presently has a consensus rating of Hold and a consensus target price of $61.65.
In other V.F. Corporation news, Director W Alan Mccollough sold 22,852 shares of V.F. Corporation stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $62.94, for a total value of $1,438,304.88. Following the completion of the sale, the director now owns 36,353 shares in the company, valued at approximately $2,288,057.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Aidan O’meara sold 29,336 shares of V.F. Corporation stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $62.54, for a total value of $1,834,673.44. Following the completion of the sale, the vice president now owns 120,680 shares of the company’s stock, valued at approximately $7,547,327.20. The disclosure for this sale can be found here. Insiders sold a total of 453,152 shares of company stock valued at $28,649,326 in the last 90 days. 1.60% of the stock is owned by company insiders.
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About V.F. Corporation
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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