Brokerages forecast that Ralph Lauren Corp (NYSE:RL) will post sales of $1.42 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ralph Lauren’s earnings, with the lowest sales estimate coming in at $1.41 billion and the highest estimate coming in at $1.43 billion. Ralph Lauren reported sales of $1.39 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.2%. The business is expected to announce its next quarterly earnings report on Tuesday, July 30th.
According to Zacks, analysts expect that Ralph Lauren will report full year sales of $6.43 billion for the current financial year, with estimates ranging from $6.41 billion to $6.48 billion. For the next financial year, analysts anticipate that the business will post sales of $6.59 billion, with estimates ranging from $6.49 billion to $6.71 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Ralph Lauren.
Ralph Lauren (NYSE:RL) last released its earnings results on Tuesday, May 14th. The textile maker reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Ralph Lauren had a net margin of 6.95% and a return on equity of 16.85%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS.
A number of analysts have weighed in on the stock. Nomura decreased their target price on shares of Ralph Lauren from $129.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Ralph Lauren in a research report on Wednesday. OTR Global raised shares of Ralph Lauren to a “positive” rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of Ralph Lauren from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research report on Thursday, February 7th. Finally, Wells Fargo & Co raised shares of Ralph Lauren from a “market perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $137.47.
In related news, Director Joyce F. Brown sold 2,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $126.00, for a total value of $252,000.00. Following the transaction, the director now directly owns 7,278 shares in the company, valued at approximately $917,028. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 32.49% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc lifted its holdings in shares of Ralph Lauren by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 6,708,738 shares of the textile maker’s stock worth $922,788,000 after purchasing an additional 137,325 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Ralph Lauren by 5.1% in the 4th quarter. BlackRock Inc. now owns 4,137,377 shares of the textile maker’s stock worth $428,052,000 after purchasing an additional 200,314 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Ralph Lauren by 9.7% in the 1st quarter. Renaissance Technologies LLC now owns 3,934,994 shares of the textile maker’s stock worth $510,290,000 after purchasing an additional 348,794 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Ralph Lauren by 11,845.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,726,585 shares of the textile maker’s stock worth $26,000 after purchasing an additional 2,703,760 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Ralph Lauren by 5.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,528 shares of the textile maker’s stock worth $265,544,000 after purchasing an additional 106,003 shares in the last quarter. Institutional investors own 65.84% of the company’s stock.
NYSE:RL opened at $115.68 on Thursday. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.51 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.90 and a quick ratio of 2.18. Ralph Lauren has a fifty-two week low of $95.63 and a fifty-two week high of $147.79.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.6875 per share. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.75 annualized dividend and a dividend yield of 2.38%. Ralph Lauren’s dividend payout ratio (DPR) is 41.46%.
Ralph Lauren Company Profile
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. It offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise footwear, eyewear, watches, fashion and fine jewelry, hats, gloves, umbrellas, belts, and leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.
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