) set a new 52-week high of $169.97 on Monday, Apr 8, 2013 based
on the company's consistent positive earnings surprise trend,
strong organic revenue growth, impressive management guidance and
strategies to expand its global reach.
This home improvement retailer closed trade at its yearly high
on Apr 8, up 0.5% from the previous day's session and recording a
year-to-date return of 13.0%. Average volume of shares traded
over the last 3 months stands at approximately 811K.
Moreover, the company currently trades at a forward P/E of 15.7x,
a 8.3% premium to the industry average of 14.5x.
If we look at the company's earnings surprise history, this Zacks
Rank #3 (Hold) stock has outperformed the Zacks Consensus
Estimate in the past 13 quarters. The average positive surprise
in the trailing 13 quarters comes to 10.3%.
V.F. Corp.'s diversified brand portfolio as well as its approach
to brand management, which remains focused on further developing
its brands, positions the company well above its peers. We
believe that given the strength of many of its brands and
opportunities with regard to distribution, the company is set for
significant long-term growth.
In Feb 2013, V.F. Corp. reported robust fourth quarter 2012
earnings results primarily driven by strong top-line growth along
with improved margins. The fourth quarter 2012 earnings of $3.07
per share exhibited an improvement of over 32% from the
comparable year-ago quarter as well as the Zacks Consensus
Estimate of $3.03.
V.F. Corp's total sales grew 4% to $3.003 billion in the quarter
but fell short of the Zacks Consensus Estimate of $3.072 billion.
Given the solid fourth-quarter results, the company expects 2013
revenue to increase 6% to $11.5 billion. Gross and operating
margins are anticipated to expand by 100 basis points.
Based on these forecasts, V.F. Corp. expects its adjusted
earnings for 2013 to be $10.70 per share compared with $9.63 in
2012. Currently, the Zacks Consensus Estimate stands at $10.81
per share, which is substantially above the company's guidance.
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Apart from strong fourth quarter results, V.F. Corp.'s growth
story looks compelling. We believe that the company's sustained
focus on strategic acquisitions, along with expanding global
operations, bodes well for future growth.
Besides V.F. Corp., companies such as
Best Buy Co. Inc.
Fifth & Pacific Companies Inc.
) achieved new 52-week highs of $26.29, $44.24 and $21.18,
respectively, on Monday, Apr 8.