PVH (NYSE:PVH) Shares Gap Up After Strong Earnings

PVH Corp. (NYSE:PVH) shares 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 changing hands.

The textile maker reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.08. PVH had a net margin of 8.13% and a return on equity of 13.66%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm earned $3.72 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis.

PVH Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Wednesday, March 5th. PVH’s dividend payout ratio is currently 1.22%.

Wall Street Analyst Weigh In

PVH has been the topic of several analyst reports. JPMorgan Chase & Co. cut shares of PVH from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $149.00 to $113.00 in a report on Friday, January 24th. Citigroup decreased their price objective on shares of PVH from $123.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Barclays dropped their target price on PVH from $144.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. StockNews.com downgraded PVH from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Morgan Stanley cut their target price on PVH from $103.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, PVH currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.40.

Hedge Funds Weigh In On PVH

A number of institutional investors have recently made changes to their positions in PVH. UMB Bank n.a. raised its holdings in PVH by 78.5% in the 4th quarter. UMB Bank n.a. now owns 282 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 124 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in PVH during the fourth quarter valued at approximately $41,000. Kapitalo Investimentos Ltda bought a new stake in shares of PVH in the 4th quarter valued at approximately $47,000. Allworth Financial LP acquired a new position in shares of PVH in the 4th quarter worth approximately $50,000. Finally, GAMMA Investing LLC boosted its stake in shares of PVH by 36.0% in the 4th quarter. GAMMA Investing LLC now owns 487 shares of the textile maker’s stock valued at $52,000 after purchasing an additional 129 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

PVH Price Performance

The company’s 50 day simple moving average is $76.36 and its two-hundred day simple moving average is $92.72. 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 stock has a market capitalization of $4.20 billion, a P/E ratio of 6.14, a PEG ratio of 0.77 and a beta of 2.10.

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.