Phillips-Van Heusen (PVH) Upside Accelerates After Strong Results
Tweet
Share
E-mailGet Alerts PVH Hot Sheet
Join SI Premium – FREE
After starting higher, Phillips-Van Heusen (NYSE: PVH) is accelerating to the upside after a 'beat and raise' quarter after the close.
PVH reported Q2 EPS of $0.72, ex-items, versus the analyst estimate of $0.54. Revenue for the quarter was $1.10 billion, which compares to the estimate of $1.09 billion. The company sees Q3 adj-EPS of $1.37-$1.42 on sales of $1.42-$1.44 billion. The Street is looking for quarterly EPS of $1.42 on sales of $1.43 billion. The company also raised its FY11 EPS guidance from $3.55-$3.65 to $3.70-$3.80, vs. the consensus of $3.62.
Piper Jaffray upgraded the stock today from Neutral to Overweight and raised their price target from $54 to $59, following the results. The firm said strong fundamental results from Calvin Klein and Tommy Hilfiger coupled with attractive valuation will support shares at a higher multiple.
Shares are up 9 percent to $55.06.
PVH reported Q2 EPS of $0.72, ex-items, versus the analyst estimate of $0.54. Revenue for the quarter was $1.10 billion, which compares to the estimate of $1.09 billion. The company sees Q3 adj-EPS of $1.37-$1.42 on sales of $1.42-$1.44 billion. The Street is looking for quarterly EPS of $1.42 on sales of $1.43 billion. The company also raised its FY11 EPS guidance from $3.55-$3.65 to $3.70-$3.80, vs. the consensus of $3.62.
Piper Jaffray upgraded the stock today from Neutral to Overweight and raised their price target from $54 to $59, following the results. The firm said strong fundamental results from Calvin Klein and Tommy Hilfiger coupled with attractive valuation will support shares at a higher multiple.
Shares are up 9 percent to $55.06.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Verizon planning new round of layoffs this week - Barron’s
- PVH names Alexis Rollier as CFO, effective September 2026
- PVH Corp. Appoints Alexis Rollier as Chief Financial Officer
Create E-mail Alert Related Categories
Insiders' Blog, Momentum MoversRelated Entities
Piper JaffraySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
