PVH Stock Soaring After Reporting Earnings Beat

NEW YORK (TheStreet) -- Shares of PVH Corp  (PVH) were up 8.3% to $113.37 on heavy volume in afternoon trading Tuesday, following the apparel company's better than expected first quarter earnings results, released after the market closed yesterday.

RealMoney contributor Chris Laudani commented in a post this morning, "I don't think PVH is turning around. There's plenty of evidence that apparel has lost its value with consumers."

"Just because PVH is cheap ex-currency doesn't mean you should buy it. That's why I'm staying away," Laudani added.

For the quarter, the apparel company earned $1.50 per share on revenue of $1.88 billion.

Analysts were expecting PVH to report earnings of $1.38 per share on revenue of $1.86 billion for the first quarter, according to the Associated Press.

"Strong underlying fundamentals in our international Calvin Klein and Tommy Hilfiger businesses was partially offset by softness in our U.S. Calvin Klein and Tommy Hilfiger businesses, where a strong U.S. dollar negatively impacted international tourist spending," said PVH chairman and CEO Emanuel Chirico.

PVH also authorized a $500 million three-year stock repurchase program.

Looking ahead, the maker of Calvin Klein said it expects earnings for the current quarter ending in July, to come in between $1.25 to $1.30 per share.

For the full-year, PVH expects earnings in a range of between $6.85 to $6.95 per share.

About 3.27 million shares of PVH have exchanged hands as of 1:48 p.m. ET today, compared to its average trading volume of about 780,967 shares a day.

New York City-based PVH is a global apparel company with its brand portfolio consisting of Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner's and Olga.

PVH also holds Speedo, which is licensed for North America and the Caribbean.

The company designs and markets branded dress shirts, neckwear, sportswear, jeanswear, underwear, intimate apparel, swim products and, to a lesser extent, handbags, footwear and other related products and licenses its owned brands over a range of products.

Insight from TheStreet's Research Team:

Jim Cramer commented on PVH in a recent post on RealMoney.com. Here is a snippet of what Cramer had to say about the stock:

When we examine the lack of earnings oomph from so many of our companies, we need to start being realistic about how they are really doing vs. how they appear to be doing.

We need to do so because the dollar is freakishly distorting the earnings of our companies and it, frankly, isn't sustainable. It's gotten to the point where you can't even use the stated numbers to make a judgment about how a company's doing. They are simply not giving you an accurate depiction of what's really going on.

Take PVH Corp. (PVH). Here's a company, run by CEO Manny Chirico, which had long been -- along with Trifecta portfolio holding V.F. Corporation (VFC) and Ralph Lauren(RL) -- among the idols of the industry.

- Jim Cramer, 'PVH Is a Buy Obscured by the Strong Dollar' originally published 6/2/2015 on RealMoney.com.

Want more information like this from Jim Cramer BEFORE your stock moves? Learn more about RealMoney.com now.

Separately, 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 some important positives, 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 impressive record of earnings per share growth, compelling growth in net income, revenue growth, reasonable valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."

You can view the full analysis from the report here: PVH Ratings Report

PVH ChartPVH data by YCharts

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