V.F. Corporation (VFC) Expected to Announce Quarterly Sales of $3.41 Billion
Equities analysts predict that V.F. Corporation (NYSE:VFC) will report $3.41 billion in sales for the current fiscal quarter, according to Zacks. Sixteen analysts have issued estimates for V.F. Corporation’s earnings. The highest sales estimate is $3.47 billion and the lowest is $3.34 billion. V.F. Corporation posted sales of $3.46 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 1.4%. The business is expected to announce its next quarterly earnings report before the market opens on Monday, October 23rd.
On average, analysts expect that V.F. Corporation will report full year sales of $3.41 billion for the current fiscal year, with estimates ranging from $11.57 billion to $11.86 billion. For the next year, analysts expect that the company will post sales of $12.35 billion per share, with estimates ranging from $11.68 billion to $13.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover V.F. Corporation.
V.F. Corporation (NYSE:VFC) last announced its earnings results on Monday, July 24th. The textile maker reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share.
Several brokerages recently issued reports on VFC. B. Riley restated a “neutral” rating and issued a $53.00 price target on shares of V.F. Corporation in a research report on Sunday, April 30th. Forward View raised V.F. Corporation from a “sell” rating to a “hold” rating and set a $65.00 price objective on the stock in a report on Friday, July 28th. Piper Jaffray Companies set a $58.00 price objective on V.F. Corporation and gave the company a “hold” rating in a report on Monday, August 14th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $75.00 price objective (up previously from $70.00) on shares of V.F. Corporation in a report on Tuesday, August 15th. Finally, Buckingham Research lifted their price objective on V.F. Corporation from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $60.15.
V.F. Corporation (NYSE:VFC) opened at 63.42 on Monday. The stock has a market capitalization of $24.96 billion, a PE ratio of 24.20 and a beta of 0.78. The firm has a 50-day moving average price of $60.62 and a 200 day moving average price of $55.78. V.F. Corporation has a 12 month low of $48.05 and a 12 month high of $64.90.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, September 7th. V.F. Corporation’s payout ratio is currently 64.86%.
In related news, VP Aidan O’meara sold 29,336 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $62.54, for a total value of $1,834,673.44. Following the sale, the vice president now owns 120,680 shares of the company’s stock, valued at approximately $7,547,327.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director W Alan Mccollough sold 22,852 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $62.94, for a total value of $1,438,304.88. Following the completion of the sale, the director now directly owns 36,353 shares in the company, valued at approximately $2,288,057.82. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Orrstown Financial Services Inc. raised its stake in V.F. Corporation by 9.2% in the second quarter. Orrstown Financial Services Inc. now owns 1,780 shares of the textile maker’s stock worth $103,000 after buying an additional 150 shares during the last quarter. TrimTabs Asset Management LLC bought a new stake in V.F. Corporation during the first quarter worth about $121,000. WFG Advisors LP raised its stake in V.F. Corporation by 7.4% in the first quarter. WFG Advisors LP now owns 2,480 shares of the textile maker’s stock worth $136,000 after buying an additional 170 shares during the last quarter. Zions Bancorporation raised its stake in V.F. Corporation by 1.5% in the first quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock worth $140,000 after buying an additional 38 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd bought a new stake in V.F. Corporation during the first quarter worth about $148,000.
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V.F. Corporation Company Profile
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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