VF Corp to Post FY2020 Earnings of $3.31 Per Share, Wedbush Forecasts (NYSE:VFC)

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VF Corp (NYSE:VFC) – Equities research analysts at Wedbush lowered their FY2020 earnings per share (EPS) estimates for VF in a report released on Friday, January 24th. Wedbush analyst C. Svezia now expects that the textile maker will post earnings per share of $3.31 for the year, down from their previous forecast of $3.35. Wedbush has a “Neutral” rating and a $90.00 price target on the stock. Wedbush also issued estimates for VF’s Q4 2020 earnings at $0.52 EPS and FY2021 earnings at $3.75 EPS.

VF (NYSE:VFC) last announced its quarterly earnings data on Thursday, January 23rd. The textile maker reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.02. VF had a return on equity of 30.78% and a net margin of 10.54%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the company earned $1.31 earnings per share. VF’s revenue was up 4.9% compared to the same quarter last year.

Several other equities analysts have also weighed in on the company. ValuEngine lowered VF from a “buy” rating to a “hold” rating in a report on Friday, November 29th. Barclays assumed coverage on VF in a report on Tuesday, November 12th. They set an “overweight” rating and a $103.00 price objective for the company. Credit Suisse Group increased their price objective on VF from $104.00 to $116.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Guggenheim reissued a “buy” rating on shares of VF in a report on Tuesday, December 10th. Finally, Telsey Advisory Group reduced their price objective on VF from $106.00 to $100.00 and set an “outperform” rating for the company in a report on Friday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $100.67.

Shares of NYSE VFC opened at $82.51 on Monday. The stock has a fifty day simple moving average of $95.18 and a two-hundred day simple moving average of $88.48. VF has a 1-year low of $76.77 and a 1-year high of $100.25. The firm has a market cap of $33.76 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.26 and a beta of 1.19. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.69.

Several institutional investors have recently bought and sold shares of VFC. Savior LLC bought a new stake in VF during the fourth quarter valued at $36,000. Independence Bank of Kentucky bought a new stake in VF during the third quarter valued at $34,000. Mechanics Bank Trust Department bought a new stake in VF during the third quarter valued at $38,000. Prime Capital Investment Advisors LLC boosted its stake in VF by 33.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 518 shares of the textile maker’s stock valued at $46,000 after buying an additional 131 shares during the period. Finally, John W. Brooker & Co. CPAs bought a new stake in VF during the fourth quarter valued at $55,000.

In other news, CEO Steven E. Rendle sold 155,582 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $91.40, for a total value of $14,220,194.80. Following the completion of the transaction, the chief executive officer now directly owns 302,013 shares of the company’s stock, valued at $27,603,988.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clarence Otis, Jr. sold 16,930 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $91.14, for a total value of $1,543,000.20. Following the completion of the transaction, the director now directly owns 25,722 shares of the company’s stock, valued at $2,344,303.08. The disclosure for this sale can be found here. Insiders sold 193,826 shares of company stock valued at $17,535,241 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, March 9th. VF’s payout ratio is currently 50.79%.

VF Company Profile

V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia Pacific. It operates through four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.

Read More: What is Cost of Goods Sold (COGS)?

Earnings History and Estimates for VF (NYSE:VFC)

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