NEW YORK (TheStreet) -- PVH Corp (PVH) stock is sliding on Thursday after reporting a first quarter below analysts' estimates and slashing its full-year earnings guidance. By midmorning, shares had tumbled 8% to $120.26.
Over its April-ended quarter, the fashion house earned $1.47 cents a share, 2 cents less than what analysts surveyed by Thomson Reuters expected. Revenue of $1.96 billion climbed 1% year over year but missed forecasts of $1.98 billion.
For its full year ending January, the company lowered its full-year earnings guidance by 10 cents to between $7.30 and $7.40 a share. That came in below analysts' consensus of $7.50 a share.
TheStreet Ratings team rates PVH CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate PVH CORP (PVH) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."