V.F. (NYSE:VFC) Issues FY 2023 Earnings Guidance

V.F. (NYSE:VFCGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.30-$3.40 for the period. The company issued revenue guidance of $12.67B-.

Shares of V.F. stock opened at $47.12 on Thursday. The business has a 50-day moving average of $53.04 and a 200 day moving average of $62.61. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.43 and a quick ratio of 1.03. The stock has a market capitalization of $18.33 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.44 and a beta of 1.42. V.F. has a 12 month low of $44.17 and a 12 month high of $84.96.

V.F. (NYSE:VFCGet Rating) last released its quarterly earnings results on Thursday, May 19th. The textile maker reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.83 billion. V.F. had a return on equity of 35.53% and a net margin of 11.71%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that V.F. will post 3.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 21st. Stockholders of record on Friday, June 10th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $2.00 annualized dividend and a dividend yield of 4.24%. V.F.’s dividend payout ratio (DPR) is presently 56.66%.

Several research firms recently weighed in on VFC. The Goldman Sachs Group dropped their price objective on shares of V.F. from $46.00 to $40.00 and set a sell rating for the company in a research report on Friday, May 20th. Cowen lowered their price target on shares of V.F. from $72.00 to $61.00 and set a na rating on the stock in a report on Wednesday, May 18th. Piper Sandler decreased their target price on shares of V.F. from $89.00 to $80.00 and set an overweight rating on the stock in a research report on Monday, January 31st. Cowen reduced their price target on shares of V.F. from $72.00 to $61.00 in a research report on Wednesday, May 18th. Finally, Wedbush cut their target price on shares of V.F. from $61.00 to $50.00 and set a neutral rating on the stock in a research report on Friday, May 20th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $62.89.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in V.F. during the 1st quarter worth about $375,000. Prudential PLC purchased a new position in V.F. during the 1st quarter worth approximately $324,000. Wimmer Associates 1 LLC grew its stake in shares of V.F. by 17.9% during the 1st quarter. Wimmer Associates 1 LLC now owns 5,315 shares of the textile maker’s stock worth $302,000 after purchasing an additional 806 shares during the period. Eudaimonia Partners LLC acquired a new stake in shares of V.F. during the 1st quarter worth approximately $274,000. Finally, Madison Asset Management LLC acquired a new stake in shares of V.F. during the 4th quarter worth approximately $270,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

V.F. Company Profile (Get Rating)

V.F. Corporation, together with its subsidiaries, engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.

See Also

Earnings History and Estimates for V.F. (NYSE:VFC)

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