PVH Corp. (PVH) is set to release its third-quarter earnings results after the market close on Wednesday, December 3, and Wall Street is bracing for a decline in profitability despite modest top-line growth.
The New York-based apparel company, which owns brands like Calvin Klein and Tommy Hilfiger, is expected to report earnings of $2.54 per share for the quarter. That's a notable drop from the $3.03 per share PVH posted in the same period last year. On the revenue side, analysts are looking for $2.28 billion, compared to $2.26 billion a year earlier, according to consensus estimates.
The earnings report comes amid a period of transition for PVH, which announced on November 18 that Chief Financial Officer Zac Coughlin will be departing the company to pursue an opportunity outside of the retail and apparel industry. Shares closed at $84.74 on Tuesday, down 0.6%.
Ahead of the quarterly results, several highly accurate Wall Street analysts have weighed in with updated ratings and price targets on the stock. Here's what the top-rated analysts are saying:
Dana Telsey from Telsey Advisory Group maintained an Outperform rating with a $95 price target on November 19. Telsey has an accuracy rate of 62%.
Robert Drbul at BTIG initiated coverage on the stock with a Buy rating and a $100 price target on October 15. Drbul's accuracy rate stands at 64%.
Goldman Sachs analyst Brooke Roach maintained a Buy rating and raised the price target from $81 to $91 on August 28. Roach has a 60% accuracy rate.
Ike Boruchow from Wells Fargo maintained an Equal-Weight rating and boosted the price target from $80 to $88 on August 28. Boruchow boasts a 72% accuracy rate, the highest among this group.
UBS analyst Jay Sole maintained a Buy rating and raised the price target from $146 to $148 on August 28. Sole has an accuracy rate of 68%.
The range of price targets suggests varying degrees of optimism about PVH's prospects, with most analysts maintaining positive stances despite the anticipated earnings decline. Investors will get a clearer picture when the company reports results Wednesday evening and management provides forward guidance.