Ralph Lauren (NYSE:RL) Announces Earnings Results

Ralph Lauren (NYSE:RL) announced its quarterly earnings results on Thursday. The textile maker reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.28, FiscalAI reports. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion.

Ralph Lauren Price Performance

Shares of RL opened at $330.71 on Thursday. The company has a market cap of $20.02 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.12 and a beta of 1.37. Ralph Lauren has a 1-year low of $258.13 and a 1-year high of $393.41. The company’s fifty day simple moving average is $352.65 and its 200 day simple moving average is $354.72. The company has a current ratio of 2.10, a quick ratio of 1.52 and a debt-to-equity ratio of 0.50.

Ralph Lauren Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were issued a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, March 27th. Ralph Lauren’s payout ratio is presently 24.85%.

Wall Street Analysts Forecast Growth

RL has been the topic of a number of research reports. Evercore set a $420.00 price objective on shares of Ralph Lauren and gave the stock an “outperform” rating in a research report on Friday, February 6th. Barclays boosted their price objective on shares of Ralph Lauren from $416.00 to $430.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. BTIG Research boosted their price objective on shares of Ralph Lauren from $435.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Citigroup raised shares of Ralph Lauren from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $360.00 to $400.00 in a research report on Tuesday, March 24th. Finally, UBS Group boosted their price objective on shares of Ralph Lauren from $477.00 to $480.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $403.44.

Hedge Funds Weigh In On Ralph Lauren

Institutional investors have recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new position in Ralph Lauren during the third quarter worth $27,000. CYBER HORNET ETFs LLC acquired a new position in shares of Ralph Lauren in the second quarter valued at $28,000. MUFG Securities EMEA plc acquired a new position in shares of Ralph Lauren in the second quarter valued at $32,000. Acumen Wealth Advisors LLC acquired a new position in shares of Ralph Lauren in the fourth quarter valued at $38,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Ralph Lauren by 57.1% in the second quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 52 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Company Profile

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.