PVH CORP. /DE/ (PVH) Jun 2024 Earnings Report
PVH Corp: Investment Report
Overview
PVH Corp, the parent company of iconic brands Tommy Hilfiger and Calvin Klein, has been a stalwart in the apparel industry for over 140 years. With a market capitalization of $6.32 billion, the company has proven its resilience in the face of macroeconomic challenges. As the company navigates the current retail landscape, this report will delve into PVH's financial performance, growth prospects, and analyst recommendations to provide a comprehensive view of the stock's potential.
Core Metrics
- Current price: $113.22 USD
- 52-week high: $141.15
- 52-week low: $69.27
- Market Cap: $6.32 billion
- P/E Ratio: 10.099911
- Earnings per Share: $11.21
- 50-day average: $113.1608
- 200-day average: $106.31955
- Analyst Recommendations: Buy (14 analysts)
Financial Performance
PVH Corp reported a 10% drop in revenues for Q1 2024, which was met with a higher margin and EBIT. The company raised its FY2024 earnings per share (EPS) outlook despite challenges. The operating cash flow stands at $978.1 million, with a free cash flow of $729.15 million. The gross margins for the company are 58.94%, and the EBITDA margin is 13.56%.
Growth Prospects
PVH Corp's growth prospects are promising, driven by its strong brand portfolio and increasing demand for its products. The company's focus on digital transformation and expansion into new markets will likely drive growth in the coming years. The company's commitment to sustainability and social responsibility will also contribute to its long-term growth prospects.
News and Updates
Recent news articles highlight the company's solid Q1 performance, which met expectations despite the tough macroeconomic backdrop. PVH Corp also announced changes to its C-suite, including the departure of its Tommy Hilfiger Global and PVH Europe CEO. The company has also been named as a Strong Momentum Stock, and its Q1 results have been deemed a success.
Upgrades and Downgrades
TD Cowen reiterated its Buy rating on PVH Corp, while Wells Fargo maintained its Overweight rating. Barclays and Morgan Stanley have also reaffirmed their Overweight and Equal-Weight ratings, respectively.
Summary
In conclusion, PVH Corp's strong brand portfolio, growing digital presence, and commitment to sustainability position the company for long-term growth. Despite the current retail challenges, the company's financial performance and analyst recommendations suggest a promising outlook. We recommend a Buy rating on PVH Corp, driven by its growth prospects and solid financial performance.
Disclosures
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