Ralph Lauren Shares Surge Following Q2 Results, Full-Year Forecast (RL)

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Apparel maker Ralph Lauren Corp ( RL ) on Wednesday posted better-than-expected fiscal second quarter earnings and raised its full-year sales outlook, sending its shares sharply higher in premarket trading.

The New York-based company reported fiscal second quarter net income of $169 million, or $1.78 per share, compared with $168.4 million, or $1.72 per share, in the year-ago period.

Revenue rose 17% from last year to $1.81 billion.

On average, Wall Street analysts expected a much smaller profit of $1.67 per share, on lower revenue of $1.75 billion.

Looking ahead, RL said it now expects full-year sales to rise around 20% from last year. It had previously pegged a high-teens-to-low 20% growth rate.

Ralph Lauren shares rose $13.23, or +8.4%, in premarket trading Wednesday.

The Bottom Line
Shares of Ralph Lauren ( RL ) have a .51% dividend yield, based on last night's closing stock price of $157.07. The stock has technical support in the $140-$150 price area. Shares are trading at all-time highs.

Ralph Lauren Corp ( RL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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Referenced Stocks: RL

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