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PVH Corp on the Street: An Expectations Story

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PVH Corp on the Street: An Expectations Story PART 1 OF 5

PVH’s 4Q16 Earnings Preview: Is Another Beat on the Horizon?

4Q16 earnings preview

Phillips-Van Heusen Corporation, or PVH Corp (PVH), is slated to declare its 4Q16 and fiscal 2016 results on Thursday, March 23, 2017. The company’s earnings are expected to fall 21.6% to $1.19 in the fourth quarter, while its total sales are likely to fall 1% to $2.1 billion.

PVH Corp has been very consistent in delivering strong earnings performances, which have outpaced the Wall Street recommendations. The company has done better than Wall Street’s earnings expectations in 23 of the last 24 quarters. This would make the eleventh consecutive beat if PVH comes up with an earnings surprise for 4Q16.

PVH&#8217;s 4Q16 Earnings Preview: Is Another Beat on the Horizon?

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Valuations summary

PVH is currently trading at a one-year PE (price-to-earnings) multiple of 13.3x, operating closer to the lower end of its 52-week PE range of 12x–16.3x and trading at a discount to peers VF Corp (VFC) and Ralph Lauren (RL), which are valued at 17.7x and 16x, respectively. Hanesbrands (HBI) and Gap (GPS), however, are more cheaply valued to 10.4x and 12x, respectively.

About PVH

PVH Corp is the one of the largest US-based branded apparel company. The company owns several internationally recognized brands such as Calvin Klein and Tommy Hilfiger, as well as Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle.

Notably, ETF investors seeking to add exposure to PVH can consider the First Trust Consumer Discretionary AlphaDEX (FXD), which invests 1.5% of its portfolio in PVH.

In this series, we’ll look at PVH Corp’s year-to-date performance and provide a view of its expected performance in 4Q16. We’ll also briefly touch on the company’s stock market performance and Wall Street’s recommendations.

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