Wall Street brokerages expect Ralph Lauren Corporation (NYSE:RL) to announce sales of $1.65 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Ralph Lauren Corporation’s earnings. The lowest sales estimate is $1.64 billion and the highest is $1.67 billion. Ralph Lauren Corporation reported sales of $1.82 billion in the same quarter last year, which would suggest a negative year over year growth rate of 9.3%. The business is scheduled to announce its next earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Ralph Lauren Corporation will report full-year sales of $1.65 billion for the current year, with estimates ranging from $6.10 billion to $6.12 billion. For the next year, analysts forecast that the business will report sales of $6.05 billion per share, with estimates ranging from $5.89 billion to $6.19 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Ralph Lauren Corporation.
Ralph Lauren Corporation (NYSE:RL) last announced its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $1.06 earnings per share. The business’s revenue was down 13.2% on a year-over-year basis.
Several equities research analysts have recently issued reports on RL shares. Cowen and Company reissued a “hold” rating and set a $80.00 target price (up from $78.00) on shares of Ralph Lauren Corporation in a research note on Tuesday, July 18th. Credit Suisse Group reissued a “neutral” rating and set a $74.00 target price (down from $78.00) on shares of Ralph Lauren Corporation in a research note on Friday, May 19th. BidaskClub raised shares of Ralph Lauren Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Piper Jaffray Companies reissued a “sell” rating and set a $66.00 target price on shares of Ralph Lauren Corporation in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $75.00 target price on shares of Ralph Lauren Corporation in a research note on Friday, July 7th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $90.93.
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A number of hedge funds have recently added to or reduced their stakes in RL. BlackRock Inc. raised its holdings in Ralph Lauren Corporation by 3,678.8% in the 1st quarter. BlackRock Inc. now owns 4,583,697 shares of the textile maker’s stock valued at $374,123,000 after acquiring an additional 4,462,396 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Ralph Lauren Corporation by 378.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,400,915 shares of the textile maker’s stock valued at $324,786,000 after acquiring an additional 3,480,135 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Ralph Lauren Corporation by 113.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,469,782 shares of the textile maker’s stock valued at $201,582,000 after acquiring an additional 1,314,237 shares during the last quarter. International Value Advisers LLC acquired a new stake in Ralph Lauren Corporation in the 1st quarter valued at about $82,868,000. Finally, Vanguard Group Inc. raised its holdings in Ralph Lauren Corporation by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 5,708,885 shares of the textile maker’s stock valued at $465,959,000 after acquiring an additional 495,685 shares during the last quarter. Institutional investors own 62.89% of the company’s stock.
Shares of Ralph Lauren Corporation (NYSE RL) traded up 0.06% during trading on Tuesday, hitting $90.87. The stock had a trading volume of 1,070,443 shares. The firm’s market cap is $7.38 billion. Ralph Lauren Corporation has a 12-month low of $66.06 and a 12-month high of $114.00. The firm has a 50 day moving average price of $85.26 and a 200 day moving average price of $78.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.20%. Ralph Lauren Corporation’s payout ratio is -869.57%.
Ralph Lauren Corporation Company Profile
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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