Guggenheim Initiates Coverage on PVH Corp. (PVH)
Equities research analysts at Guggenheim initiated coverage on shares of PVH Corp. (NYSE:PVH) in a research note issued to investors on Friday. The firm set a “buy” rating and a $125.00 price target on the stock. Guggenheim’s target price would indicate a potential upside of 12.07% from the stock’s current price.
Several other research analysts have also weighed in on PVH. Zacks Investment Research raised shares of PVH Corp. from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Friday, August 26th. Piper Jaffray Cos. set a $124.00 price objective on shares of PVH Corp. and gave the company a “buy” rating in a research note on Thursday, September 29th. Citigroup Inc. lowered their price objective on shares of PVH Corp. from $110.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, August 26th. Brean Capital reissued a “buy” rating on shares of PVH Corp. in a research note on Thursday, September 22nd. Finally, Buckingham Research raised their price objective on shares of PVH Corp. from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. PVH Corp. has a consensus rating of “Buy” and a consensus price target of $113.79.
PVH Corp. (NYSE:PVH) opened at 111.54 on Friday. The company’s 50 day moving average is $107.81 and its 200 day moving average is $98.44. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 13.51 and a beta of 1.07. PVH Corp. has a 1-year low of $64.16 and a 1-year high of $112.61.
PVH Corp. (NYSE:PVH) last announced its earnings results on Wednesday, August 24th. The company reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.18. The company earned $1.93 billion during the quarter, compared to analyst estimates of $1.94 billion. PVH Corp. had a net margin of 8.34% and a return on equity of 12.55%. PVH Corp.’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. Equities research analysts forecast that PVH Corp. will post $6.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 24th were issued a $0.0375 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. PVH Corp.’s payout ratio is 1.82%.
A number of institutional investors have recently bought and sold shares of PVH. BlackRock Inc. raised its position in PVH Corp. by 2.0% in the first quarter. BlackRock Inc. now owns 196,856 shares of the company’s stock worth $19,500,000 after buying an additional 3,852 shares during the period. Franklin Resources Inc. purchased a new position in PVH Corp. during the first quarter worth $860,000. CLS Investments LLC raised its position in PVH Corp. by 29.0% in the first quarter. CLS Investments LLC now owns 7,075 shares of the company’s stock worth $701,000 after buying an additional 1,590 shares during the period. Prudential Financial Inc. raised its position in PVH Corp. by 77.0% in the first quarter. Prudential Financial Inc. now owns 371,709 shares of the company’s stock worth $36,822,000 after buying an additional 161,720 shares during the period. Finally, Teachers Advisors Inc. raised its position in PVH Corp. by 191.9% in the first quarter. Teachers Advisors Inc. now owns 294,088 shares of the company’s stock worth $29,132,000 after buying an additional 193,344 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.
PVH Corp. Company Profile
PVH Corp. is an apparel company. The Company’s segments include Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale, and Heritage Brands Retail. The Company’s brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands.
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