Ralph Lauren (NYSE:RL) Announces Earnings Results

Ralph Lauren (NYSE:RL – Get Rating) announced its quarterly earnings results on Tuesday. The textile maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11, MarketWatch Earnings reports. Ralph Lauren had a net margin of 8.38% and a return on equity of 22.59%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company posted $0.38 EPS. Ralph Lauren’s revenue was up 18.7% compared to the same quarter last year. Ralph Lauren updated its FY 2023 guidance to EPS and its Q1 2023 guidance to EPS.

RL stock opened at $91.14 on Wednesday. Ralph Lauren has a 12 month low of $86.55 and a 12 month high of $135.99. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 13.66 and a beta of 1.38. The company has a fifty day moving average price of $107.22 and a 200 day moving average price of $114.72. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.50.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.29%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.69. Ralph Lauren’s payout ratio is 41.23%.

A number of hedge funds have recently made changes to their positions in RL. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Ralph Lauren during the 1st quarter worth $40,466,000. BlackRock Inc. grew its holdings in Ralph Lauren by 4.8% during the 4th quarter. BlackRock Inc. now owns 4,688,097 shares of the textile maker’s stock valued at $557,228,000 after purchasing an additional 216,590 shares in the last quarter. First Trust Advisors LP increased its stake in Ralph Lauren by 186.7% during the 1st quarter. First Trust Advisors LP now owns 152,831 shares of the textile maker’s stock worth $17,337,000 after buying an additional 99,525 shares during the period. Morgan Stanley lifted its holdings in Ralph Lauren by 58.3% in the 2nd quarter. Morgan Stanley now owns 202,492 shares of the textile maker’s stock worth $23,855,000 after buying an additional 74,615 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Ralph Lauren by 61.1% in the 1st quarter. Royal Bank of Canada now owns 186,370 shares of the textile maker’s stock valued at $21,142,000 after buying an additional 70,684 shares during the last quarter. 99.89% of the stock is currently owned by hedge funds and other institutional investors.

RL has been the subject of several research analyst reports. StockNews.com began coverage on Ralph Lauren in a research note on Thursday, March 31st. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Ralph Lauren from $136.00 to $116.00 in a report on Monday, May 16th. Zacks Investment Research lowered Ralph Lauren from a “strong-buy” rating to a “hold” rating and set a $115.00 price objective for the company. in a research report on Thursday, March 10th. Telsey Advisory Group reduced their target price on Ralph Lauren from $160.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, UBS Group boosted their price target on Ralph Lauren from $168.00 to $171.00 and gave the company a “buy” rating in a research note on Monday, February 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Ralph Lauren has a consensus rating of “Hold” and a consensus price target of $130.46.

Ralph Lauren declared that its board has initiated a share repurchase program on Thursday, February 3rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the textile maker to buy up to 17.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Ralph Lauren Company Profile (Get Rating)

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, lighting, tabletop, floor coverings, and giftware; and fragrances.

Read More