Apparel maker PVH Corp. ( PVH ) late Thursday posted third quarter earnings that beat expectations, sending its shares higher in aftermarket trading.
The New York-based company reported third quarter net income of $112.2 million, or $1.54 per share, compared with $99.8 million, or $1.39 per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.89 per share.
Revenue grew 9% from last year to $1.65 billion.
On average, Wall Street analysts expected a smaller profit of $1.81 per share, on lower revenue of $1.62 billion.
Looking ahead, the company forecast fourth quarter earnings to range from 80 cents to 82 cents per share.
PVH Corp. shares rose $1.88, or +2.8%, in premarket trading Friday.
The Bottom Line
Shares of PVH Corp ( PVH ) have a .22% dividend yield, based on last night's closing stock price of $67.70. The stock has technical support in the $60-$64 price area. If the shares can firm up, we see overhead resistance around the $70-$72 price levels.
PVH Corp. ( PVH ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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