PVH (NYSE:PVH) Shares Gap Up Following Earnings Beat

PVH Corp. (NYSE:PVH - Get Free Report) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. 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 trading hands.

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

PVH Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were issued 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 dividend yield of 0.22%. PVH's dividend payout ratio is currently 1.42%.

Analyst Ratings Changes

PVH has been the topic of a number of research analyst reports. Evercore ISI reduced their target price on PVH from $139.00 to $105.00 and set an "outperform" rating on the stock in a research report on Tuesday. UBS Group lowered their target price on shares of PVH from $172.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Barclays boosted their price target on shares of PVH from $98.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday. Telsey Advisory Group restated an "outperform" rating and issued a $90.00 price objective on shares of PVH in a report on Tuesday. Finally, JPMorgan Chase & Co. downgraded shares of PVH from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $149.00 to $113.00 in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, PVH presently has an average rating of "Moderate Buy" and a consensus price target of $107.40.

Remove Ads

Institutional Trading of PVH

Several hedge funds have recently modified their holdings of PVH. Central Pacific Bank Trust Division increased its holdings in PVH by 9.7% during the 1st quarter. Central Pacific Bank Trust Division now owns 1,920 shares of the textile maker's stock worth $124,000 after purchasing an additional 170 shares during the period. First Hawaiian Bank grew its position in shares of PVH by 4.0% during the first quarter. First Hawaiian Bank now owns 5,386 shares of the textile maker's stock worth $348,000 after buying an additional 205 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of PVH by 106.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,109 shares of the textile maker's stock worth $963,000 after buying an additional 4,706 shares during the period. PKO Investment Management Joint Stock Co purchased a new stake in shares of PVH during the fourth quarter worth approximately $264,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in PVH in the fourth quarter valued at approximately $6,950,000. 97.25% of the stock is currently owned by institutional investors and hedge funds.

PVH Stock Up 3.0 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.69. The company has a market cap of $3.76 billion, a PE ratio of 5.51, a P/E/G ratio of 0.77 and a beta of 1.89. The business's 50 day moving average is $74.52 and its 200-day moving average is $92.10.

About PVH

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.