PVH (NYSE:PVH) Issues Q3 2024 Earnings Guidance

PVH (NYSE:PVH) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.500-2.500 for the period, compared to the consensus earnings per share estimate of 3.120. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.3 billion. PVH also updated its FY 2024 guidance to 11.550-11.800 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. TD Cowen lowered their price target on shares of PVH from $154.00 to $149.00 and set a buy rating on the stock in a report on Thursday, July 25th. Bank of America lowered their price target on shares of PVH from $133.00 to $130.00 and set a buy rating on the stock in a report on Thursday. Barclays lifted their price target on shares of PVH from $149.00 to $154.00 and gave the company an overweight rating in a report on Thursday, June 6th. Wedbush reaffirmed an outperform rating and set a $128.00 price target on shares of PVH in a report on Wednesday, June 5th. Finally, Wells Fargo & Company lowered their price target on shares of PVH from $145.00 to $130.00 and set an overweight rating on the stock in a report on Wednesday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, PVH currently has a consensus rating of Moderate Buy and an average target price of $130.25.

PVH Trading Down 6.4 %

Shares of PVH opened at $97.75 on Thursday. The company’s fifty day moving average is $102.45 and its 200 day moving average is $114.67. PVH has a fifty-two week low of $69.27 and a fifty-two week high of $141.15. The stock has a market capitalization of $5.46 billion, a PE ratio of 8.65, a P/E/G ratio of 0.77 and a beta of 2.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 1.55.

PVH (NYSE:PVH) last announced its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.72. PVH had a net margin of 7.53% and a return on equity of 13.14%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business posted $1.98 earnings per share. PVH’s quarterly revenue was down 6.0% on a year-over-year basis. Sell-side analysts expect that PVH will post 11.23 earnings per share for the current fiscal year.

PVH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Wednesday, September 4th. PVH’s dividend payout ratio is currently 1.33%.

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.