PVH (NYSE:PVH) Updates FY 2024 Earnings Guidance

PVH (NYSE:PVHGet Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 10.750-11.000 for the period, compared to the consensus estimate of 12.080. The company issued revenue guidance of $8.1 billion-$8.2 billion, compared to the consensus revenue estimate of $9.1 billion. PVH also updated its FY25 guidance to $10.75-11.00 EPS.

PVH Trading Down 0.7 %

PVH opened at $139.66 on Tuesday. PVH has a 12 month low of $69.27 and a 12 month high of $141.15. The stock has a 50-day moving average of $130.88 and a 200 day moving average of $106.66. The firm has a market cap of $8.33 billion, a P/E ratio of 16.47, a P/E/G ratio of 0.75 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 (NYSE:PVHGet Free Report) last announced its quarterly earnings results on Monday, April 1st. The textile maker reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.23. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.42 billion. PVH had a return on equity of 11.63% and a net margin of 5.76%. PVH’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 earnings per share. As a group, research analysts forecast that PVH will post 10.48 EPS for the current year.

PVH Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, March 5th. PVH’s payout ratio is 1.77%.

PVH announced that its board has approved a stock repurchase plan on Monday, April 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 24% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

PVH has been the subject of several research analyst reports. Telsey Advisory Group upped their price target on shares of PVH from $122.00 to $155.00 and gave the stock an outperform rating in a research report on Tuesday, March 26th. The Goldman Sachs Group upgraded shares of PVH from a neutral rating to a buy rating and raised their price target for the stock from $99.00 to $126.00 in a report on Tuesday, December 12th. TD Cowen increased their price objective on shares of PVH from $150.00 to $160.00 and gave the stock an outperform rating in a research report on Wednesday, March 20th. Wells Fargo & Company increased their price objective on shares of PVH from $110.00 to $140.00 and gave the stock an overweight rating in a research report on Monday, December 11th. Finally, UBS Group raised their price target on shares of PVH from $125.00 to $158.00 and gave the company a buy rating in a research report on Monday, December 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PVH currently has an average rating of Moderate Buy and a consensus target price of $117.93.

Check Out Our Latest Analysis on PVH

Insider Activity at PVH

In other PVH news, EVP Mark D. Fischer sold 3,500 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $123.00, for a total value of $430,500.00. Following the sale, the executive vice president now owns 27,903 shares of the company’s stock, valued at approximately $3,432,069. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On PVH

A number of hedge funds and other institutional investors have recently bought and sold shares of PVH. Private Capital Management LLC acquired a new position in shares of PVH during the 1st quarter worth about $214,000. MML Investors Services LLC acquired a new position in PVH during the 1st quarter worth approximately $208,000. Profund Advisors LLC acquired a new position in PVH during the 4th quarter worth approximately $205,000. CIBC Asset Management Inc acquired a new position in PVH in the 4th quarter valued at approximately $203,000. Finally, Federated Hermes Inc. increased its position in shares of PVH by 44.0% during the first quarter. Federated Hermes Inc. now owns 2,512 shares of the textile maker’s stock worth $193,000 after buying an additional 767 shares during the period. 97.25% of the stock is owned by institutional investors.

PVH Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for PVH (NYSE:PVH)

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