PVH (NYSE:PVH) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

PVH (NYSE:PVH) issued its earnings results on Tuesday. The textile maker reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.21, Briefing.com reports. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. PVH’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.38 EPS.

PVH Stock Performance

Shares of PVH stock traded up $2.24 on Thursday, hitting $107.73. 600,069 shares of the stock were exchanged, compared to its average volume of 924,504. The firm’s 50 day moving average is $130.42 and its two-hundred day moving average is $106.86. PVH has a one year low of $69.27 and a one year high of $141.15. The firm has a market capitalization of $6.43 billion, a PE ratio of 9.96, a P/E/G ratio of 0.64 and a beta of 2.20. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31.

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.14%. The ex-dividend date was Tuesday, March 5th. PVH’s dividend payout ratio (DPR) is 1.38%.

Insider Activity at PVH

In other PVH news, EVP Mark D. Fischer sold 3,500 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $123.00, for a total transaction of $430,500.00. Following the completion of the transaction, the executive vice president now owns 27,903 shares in the company, valued at $3,432,069. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PVH

Several institutional investors have recently made changes to their positions in the stock. Quarry LP lifted its holdings in PVH by 81.8% during the 2nd quarter. Quarry LP now owns 320 shares of the textile maker’s stock worth $27,000 after purchasing an additional 144 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of PVH by 39.8% during the first quarter. Belpointe Asset Management LLC now owns 492 shares of the textile maker’s stock valued at $44,000 after buying an additional 140 shares during the period. Atlas Capital Advisors LLC purchased a new stake in shares of PVH in the first quarter worth about $53,000. Covestor Ltd boosted its position in shares of PVH by 69.3% in the first quarter. Covestor Ltd now owns 596 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 244 shares during the period. Finally, Advisory Services Network LLC purchased a new position in PVH during the fourth quarter valued at approximately $104,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.

PVH declared that its Board of Directors has approved a share repurchase plan on Monday, April 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the textile maker to reacquire up to 24% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PVH has been the subject of several analyst reports. Telsey Advisory Group cut their price target on shares of PVH from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday. Morgan Stanley reduced their target price on shares of PVH from $134.00 to $110.00 and set an “equal weight” rating for the company in a research note on Wednesday. TD Cowen lifted their price objective on shares of PVH from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. UBS Group boosted their price target on PVH from $158.00 to $159.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on PVH from $165.00 to $146.00 and set an “overweight” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.00.

About PVH

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.