Ralph Lauren (NYSE:RL) Announces Quarterly Earnings Results

Ralph Lauren (NYSE:RL) announced its earnings results on Thursday. The textile maker reported $3.79 EPS for the quarter, topping the consensus estimate of $3.45 by $0.34, Zacks reports. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the company posted $2.54 earnings per share.

Ralph Lauren Stock Up 3.2%

Shares of RL traded up $9.94 during mid-day trading on Friday, hitting $324.98. 665,349 shares of the company’s stock were exchanged, compared to its average volume of 799,810. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.63 and a beta of 1.61. The firm has a fifty day moving average of $318.27 and a two-hundred day moving average of $289.90. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. Ralph Lauren has a twelve month low of $176.61 and a twelve month high of $341.90.

Ralph Lauren Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 26th. Ralph Lauren’s payout ratio is currently 26.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RL shares. UBS Group upped their price target on shares of Ralph Lauren from $421.00 to $435.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen increased their target price on Ralph Lauren from $354.00 to $399.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Barclays raised their target price on Ralph Lauren from $352.00 to $358.00 and gave the stock an “overweight” rating in a research report on Friday. Cowen reissued a “buy” rating on shares of Ralph Lauren in a research report on Tuesday, September 30th. Finally, Jefferies Financial Group increased their price objective on Ralph Lauren from $365.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $347.13.

Institutional Trading of Ralph Lauren

Several large investors have recently made changes to their positions in RL. CYBER HORNET ETFs LLC acquired a new position in shares of Ralph Lauren during the 2nd quarter valued at about $28,000. MUFG Securities EMEA plc bought a new position in shares of Ralph Lauren in the second quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its position in shares of Ralph Lauren by 57.1% in the second quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 52 shares during the period. Ossiam lifted its stake in shares of Ralph Lauren by 18.3% in the second quarter. Ossiam now owns 414 shares of the textile maker’s stock worth $114,000 after buying an additional 64 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Ralph Lauren by 34.1% during the 2nd quarter. Federated Hermes Inc. now owns 889 shares of the textile maker’s stock worth $244,000 after buying an additional 226 shares during the period. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Company Profile

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; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, 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, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.