Why PVH Stock Skyrocketed Today
(NYSE: PVH) stock posted big gains in Tuesday's trading following the release of the company's fiscal fourth-quarter earnings report. The clothing company's share price closed out the day's trading up 18%.
After the market closed yesterday, PVH published results for the fourth quarter of its last fiscal year, which ended Feb. 2. The company posted sales and earnings for the period that beat the market's expectations, and it also issued solid forward guidance and announced an accelerated stock buyback plan.
PVH posted non-GAAP (generally accepted accounting principles) adjusted earnings per share of $3.27 on revenue of $2.37 billion in fiscal Q4, beating the average Wall Street estimate for per-share earnings of $3.19 on sales of $2.33 billion. Revenue was actually down 5% year over year in the period, but the performance was partially impacted by currency-exchange headwinds and still managed to come in ahead of the market's expectations. Margins were also better than anticipated, and the company said that it saw strong performance for its Calvin Klein and Tommy Hilfiger brands in the quarter.
Source Fool.com
PVH Corp. Stock
The stock is an absolute favorite of our community with 30 Buy predictions and no Sell predictions.
With a target price of 85 € there is a positive potential of 33.15% for PVH Corp. compared to the current price of 63.84 €.
