NEW YORK (TheStreet) -- Shares of PVH Corp. (PVH) - Get Report are higher by 6.86% to $95.99 in pre-market trading on Thursday morning, as the apparel company posted better than expected 2016 first quarter earnings and upped its guidance after the market close Wednesday.
The parent company of the Calvin Klein and Tommy Hilfiger brands reported earnings of $1.50 per share on revenue of $1.92 billion for the most recent quarter.
Analysts had forecast for earnings of $1.43 per share on revenue of $1.9 billion for the 2016 first quarter.
Looking ahead to the full year, PVH has raised its earnings guidance to a range between $6.45 per share and $6.55 per share. Previously the company guided for earnings of $6.30 to $6.50 per share.
"Our Calvin Klein and Tommy Hilfiger businesses were the highlight, with significant strength demonstrated by our international businesses," CEO Emanuel Chirico said, according to MarketWatch. "Outperformance in Europe and China further demonstrated the power of our brands in key markets and their ability to post growth against a challenging macroeconomic environment."
Separately, TheStreet Rating has set a "hold" rating and a score of C+ on PVH Corp. stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and attractive valuation levels. However, as a counter to these strengths, TheStreet Ratings finds that the stock has had a generally disappointing performance in the past year.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: PVH