PVH (NYSE:PVH) Price Target Lowered to $65.00 at Wedbush

PVH (NYSE:PVHGet Rating) had its price target reduced by Wedbush to $65.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. Wedbush also issued estimates for PVH’s Q3 2023 earnings at $2.12 EPS, FY2023 earnings at $8.04 EPS and FY2024 earnings at $8.08 EPS.

A number of other research firms have also recently commented on PVH. Morgan Stanley decreased their price target on PVH from $83.00 to $51.00 and set an equal weight rating on the stock in a report on Friday, September 2nd. Citigroup reduced their target price on PVH from $94.00 to $73.00 and set a neutral rating on the stock in a report on Sunday, June 5th. Telsey Advisory Group reduced their target price on PVH from $110.00 to $80.00 and set an outperform rating on the stock in a report on Thursday, September 1st. Evercore ISI reduced their target price on PVH to $60.00 in a report on Tuesday. Finally, The Goldman Sachs Group cut PVH from a buy rating to a neutral rating and reduced their target price for the stock from $95.00 to $59.00 in a report on Thursday, July 21st. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PVH currently has a consensus rating of Hold and an average price target of $77.53.

PVH Price Performance

NYSE:PVH opened at $53.84 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 1.35 and a debt-to-equity ratio of 0.41. The business’s 50-day simple moving average is $61.98 and its two-hundred day simple moving average is $70.95. The stock has a market cap of $3.61 billion, a PE ratio of 4.12, a P/E/G ratio of 6.64 and a beta of 2.03. PVH has a 52 week low of $53.18 and a 52 week high of $125.42.

PVH (NYSE:PVHGet Rating) last posted its quarterly earnings results on Tuesday, August 30th. The textile maker reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.06. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.21 billion. PVH had a return on equity of 12.72% and a net margin of 10.19%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period last year, the firm earned $2.72 earnings per share. As a group, analysts forecast that PVH will post 7.91 EPS for the current fiscal year.

PVH Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th will be given a dividend of $0.038 per share. The ex-dividend date is Tuesday, September 6th. This represents a $0.15 annualized dividend and a dividend yield of 0.28%. PVH’s dividend payout ratio (DPR) is presently 1.15%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Pzena Investment Management LLC boosted its position in shares of PVH by 1.3% during the second quarter. Pzena Investment Management LLC now owns 7,939,967 shares of the textile maker’s stock valued at $451,784,000 after buying an additional 103,775 shares during the period. State Street Corp boosted its holdings in shares of PVH by 3.9% in the fourth quarter. State Street Corp now owns 2,396,147 shares of the textile maker’s stock valued at $255,549,000 after purchasing an additional 89,620 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of PVH by 17.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,215,397 shares of the textile maker’s stock valued at $169,740,000 after purchasing an additional 329,358 shares during the period. Southeastern Asset Management Inc. TN purchased a new stake in shares of PVH in the second quarter valued at approximately $121,380,000. Finally, Invesco Ltd. boosted its holdings in shares of PVH by 9.7% in the first quarter. Invesco Ltd. now owns 1,684,738 shares of the textile maker’s stock valued at $129,067,000 after purchasing an additional 148,917 shares during the period. Hedge funds and other institutional investors own 95.82% of the company’s stock.

About PVH

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PVH Corp. operates as an apparel company worldwide. 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, including 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.

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Analyst Recommendations for PVH (NYSE:PVH)

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