Ralph Lauren Co. (NYSE:RL – Get Rating) – Wedbush reduced their Q1 2023 earnings per share (EPS) estimates for shares of Ralph Lauren in a research note issued on Tuesday, May 24th. Wedbush analyst T. Nikic now anticipates that the textile maker will earn $1.71 per share for the quarter, down from their prior estimate of $2.07. Wedbush has a “Neutral” rating and a $127.00 price target on the stock. Wedbush also issued estimates for Ralph Lauren’s Q3 2023 earnings at $3.39 EPS, Q4 2023 earnings at $0.70 EPS, FY2023 earnings at $8.54 EPS and FY2024 earnings at $9.50 EPS.
Several other research firms also recently commented on RL. Credit Suisse Group dropped their price objective on shares of Ralph Lauren from $165.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, May 18th. UBS Group boosted their price objective on Ralph Lauren from $168.00 to $171.00 and gave the stock a “buy” rating in a research note on Monday, February 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ralph Lauren from $116.00 to $101.00 in a research note on Wednesday. Cowen lifted their price objective on Ralph Lauren from $162.00 to $171.00 in a research report on Friday, February 4th. Finally, TheStreet cut shares of Ralph Lauren from a “b” rating to a “c+” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $126.07.
Shares of RL stock opened at $98.41 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.50. Ralph Lauren has a 1-year low of $86.55 and a 1-year high of $135.99. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 14.75 and a beta of 1.38. The stock’s fifty day moving average price is $106.25 and its 200 day moving average price is $114.36.
Ralph Lauren (NYSE:RL – Get Rating) last issued its earnings results on Tuesday, May 24th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. Ralph Lauren had a net margin of 8.38% and a return on equity of 22.59%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis.
Ralph Lauren declared that its Board of Directors has initiated a share buyback plan on Thursday, February 3rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the textile maker to repurchase up to 17.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.05%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.69. Ralph Lauren’s payout ratio is presently 41.23%.
Several hedge funds have recently bought and sold shares of RL. CWM LLC raised its position in shares of Ralph Lauren by 127.7% during the 1st quarter. CWM LLC now owns 230 shares of the textile maker’s stock worth $26,000 after purchasing an additional 129 shares during the period. US Asset Management LLC purchased a new stake in shares of Ralph Lauren in the first quarter worth approximately $35,000. Daiwa Securities Group Inc. lifted its holdings in shares of Ralph Lauren by 38.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 453 shares of the textile maker’s stock valued at $54,000 after buying an additional 125 shares during the last quarter. Covestor Ltd acquired a new stake in shares of Ralph Lauren in the fourth quarter worth about $57,000. Finally, IndexIQ Advisors LLC bought a new position in Ralph Lauren in the 4th quarter worth $84,000. Institutional investors and hedge funds own 99.89% of the company’s stock.
Ralph Lauren Company Profile (Get Rating)
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, lighting, tabletop, floor coverings, and giftware; and fragrances.
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