PVH (NYSE:PVH) Shares Gap Up After Better-Than-Expected Earnings

PVH Corp. (NYSE:PVH) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $64.64, but opened at $75.14. PVH shares last traded at $75.79, with a volume of 1,246,998 shares.

The textile maker reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.08. PVH had a return on equity of 13.66% and a net margin of 8.13%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the business earned $3.72 earnings per share. PVH’s quarterly revenue was down 4.8% on a year-over-year basis.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.15 dividend on an annualized basis and a yield of 0.20%. PVH’s dividend payout ratio (DPR) is 1.22%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PVH. Guggenheim upped their target price on PVH from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Jefferies Financial Group lowered their price objective on PVH from $104.00 to $101.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. UBS Group decreased their price target on shares of PVH from $172.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. StockNews.com cut shares of PVH from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $90.00 target price on shares of PVH in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of PVH by 0.4% in the 4th quarter. FMR LLC now owns 6,826,021 shares of the textile maker’s stock valued at $721,852,000 after purchasing an additional 29,578 shares in the last quarter. Pacer Advisors Inc. lifted its stake in PVH by 2.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,742,436 shares of the textile maker’s stock valued at $184,263,000 after purchasing an additional 36,719 shares during the last quarter. LSV Asset Management boosted its position in PVH by 1.3% in the fourth quarter. LSV Asset Management now owns 1,199,238 shares of the textile maker’s stock valued at $126,819,000 after buying an additional 15,900 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of PVH by 22.9% during the 4th quarter. Bank of New York Mellon Corp now owns 774,010 shares of the textile maker’s stock valued at $81,852,000 after acquiring an additional 144,260 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in PVH by 179,164.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock worth $79,705,000 after acquiring an additional 759,656 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

PVH Trading Up 16.8 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 1.29. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.77 and a beta of 2.10. The business has a fifty day simple moving average of $76.36 and a 200-day simple moving average of $92.72.

PVH Company Profile

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.