Ralph Lauren (NYSE:RL) Shares Gap Up on Earnings Beat

Ralph Lauren Corporation (NYSE:RL) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $329.24, but opened at $363.00. Ralph Lauren shares last traded at $364.6010, with a volume of 343,499 shares traded.

The textile maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.28. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.27 earnings per share.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were paid a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, March 27th. Ralph Lauren’s payout ratio is 24.85%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RL. Jefferies Financial Group dropped their price target on Ralph Lauren from $425.00 to $410.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Telsey Advisory Group restated an “outperform” rating and issued a $435.00 target price on shares of Ralph Lauren in a research report on Thursday, February 5th. Citigroup raised shares of Ralph Lauren from a “neutral” rating to a “buy” rating and raised their target price for the company from $360.00 to $400.00 in a research note on Tuesday, March 24th. Evercore set a $420.00 target price on shares of Ralph Lauren and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, Barclays lifted their price objective on shares of Ralph Lauren from $416.00 to $430.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ralph Lauren presently has a consensus rating of “Moderate Buy” and a consensus price target of $403.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blueline Advisors LLC bought a new stake in shares of Ralph Lauren in the fourth quarter valued at about $27,000. JPL Wealth Management LLC bought a new stake in shares of Ralph Lauren in the 3rd quarter worth approximately $27,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Ralph Lauren during the 2nd quarter worth approximately $28,000. Aventura Private Wealth LLC bought a new stake in shares of Ralph Lauren during the fourth quarter valued at approximately $29,000. Finally, Rothschild Investment LLC increased its position in shares of Ralph Lauren by 61.3% during the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 38 shares during the period. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Up 10.2%

The firm has a market capitalization of $21.96 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37. The business has a 50 day moving average of $352.65 and a 200 day moving average of $354.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.52.

About Ralph Lauren

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.