PVH (NYSE: PVH) announced on Tuesday that it is revising the profit forecast that it had previously stated for the fiscal year 2022. The company projected that it would earn between $8.00 and $8.00 per share for the quarter, which was significantly lower than the average expectation of $8.67 per share. In addition, the company has provided a revenue prediction that varies between $8.79 billion and $8.88 billion, which is lower than the consensus sales forecast of $9.23 billion. In addition, PVH increased its earnings target for the third quarter of 2022 to between $2.10 and $2.15 per share.
On August 30, the most recent earnings report for PVH (NYSE: PVH) was made public for investors to review.
The textile business reported quarterly earnings per share of $2.08, which was $0.06 more than the $2.02 that analysts had projected for the industry. The results of the company’s sales for the time came in at $2.13 billion, which is lower than the typical forecast for the period, which was $2.21 billion. PVH achieved a return on equity of 12.72% while preserving a net margin of 10.19%. PVH reported a decrease in quarterly revenue of 7.8% compared to the prior year’s period. The earnings per share for the company came in at $2.72, an increase from the prior year’s performance for the same period. The analysts working at PVH Securities forecasted that the corporation would earn 7.89 cents per share throughout this year.
Additionally, the corporation has announced a quarterly dividend, which will be disbursed on the 28th of this month. Registered investors will be eligible to receive a dividend payment on September 7 of $0.038 per share. This payment will be made.
Such stockholders will get their dividend payments on Tuesday, September 6, if their accounts are in good standing as of that day. When expressed on an annualized basis, this translates to a dividend payment of $0.15 each month and a yield of 0.28%. PVH’s dividend payout ratio (DPR) was 1.15 percent at the time of writing.
When the market opened on Tuesday, shares of PVH were trading for $54.98 a share. The quick ratio is 0.71, the current ratio is 1.35, and the debt-to-equity ratio is 0.41. All of these numbers are relative to the total amount of debt. Therefore, all these figures should be interpreted in light of the overall sum owed. Over the previous twelve months, the price of PVH ranged from a low of $53.03 to a high of $125.42 at various points. The moving average for the company over the past 50 days is $61.47, and the moving average over the past 200 days is, correspondingly, $67.24. The company’s market capitalization is currently 3.59 billion dollars, with a price-to-earnings ratio of 4.20, a price-to-growth ratio of 6.63, and a beta value of 2.03.
There have been a great number of equity research analysts that have discussed the stock and supplied their thoughts. In a research report released on Friday, July 22, Piper Sandler reaffirmed its neutral rating and set a price objective of $60.00 per share for PVH shares. Piper Sandler also established this price objective. In a research report released on Sunday, June 5, Citigroup decreased its price objective on PVH shares from $94.00 to $73.00 and gave a neutral rating to the company in a research report. The study was about the company. A research report by The Goldman Sachs Group that was published on Thursday, July 21, indicated that the company’s rating for PVH had been lowered from a buy rating to a neutral rating. In addition to this, the price objective that the Goldman Sachs Group has established for the company has been reduced from $95.00 to $59.00 BMO Capital Markets reduced their price target on PVH from $80.00 to $79.00 in a report released on Wednesday, August 31, and assigned the stock a market perform rating in a report released on Wednesday, August 31. The report was made available to the public. UBS Group said in a research note released on Friday, July 15, that the target price for PVH has been reduced from $132.00 to $84.00.
This news was made public. Six analysts have suggested that investors purchase shares of the business, while eleven others have suggested that investors maintain their current holdings of shares. The current recommendation for the company is to maintain its status as a Hold, and the average price target has been set at $77.53 a share. This information comes from Bloomberg.
Recently, a few hedge funds have altered the total number of PVH shares they now hold in their portfolios. Over the first three months of the year, Great West Life Assurance Company of Canada increased the percentage of PVH shares it held by 1.4%. As a result, the Great West Life Assurance Company of Canada has owned 14,483 shares of the textile manufacturer’s stock, currently valued at $1,157,000. This was accomplished by purchasing 200 more shares during the fiscal quarter to meet the requirements. During the first three months of 2018, PNC Financial Services Group Inc. bought 2% of PVH’s shares, bringing its total ownership to 51%. PNC Financial Services Group Inc. now has a total of 11,444 shares of the firm, with a market cap of $877,000 after purchasing an additional 226 shares throughout the period in question.
In addition, Covestor Ltd. boosted the proportion of PVH stock that it held by 69.3% over the first quarter. Covestor Ltd. has increased its holdings in the textile company by purchasing an additional 244 shares of its stock, bringing the total number of shares it owns in the business to 596. Each share is now valued at $46,000. The number of PVH shares that Captrust Financial Advisors had in its portfolio climbed by 38.3% during the first three months of 2018. After acquiring 425 shares during the period in question, Captrust Financial Advisors now possesses a total of 1,535 shares of the textile company, which are worth a combined sum of $118,000.
Lastly, during the first three months of the year, the Commonwealth of Pennsylvania Public School Employees Retrmt SYS boosted the percentage of PVH shares it owned by an amount equal to 5%. The Commonwealth of Pennsylvania Public School Employees Retirement System increased the value of its holdings in the stock of the textile producer to $717,000 by purchasing an additional 445 shares during the quarter. This brings the total number of shares it controls to 9,363, bringing the total value of its holdings to $717,000. The vast majority of the company’s shares, or 95.82%, are owned by institutional investors and hedge funds.