(RL) Polo Ralph Lauren Corporation – Topped Consensus Estimate by 37%
Polo Ralph Lauren Corporation (RL) recently upped its quarterly dividend to 10 cents per share, doubling the previous quarter’s payout. The company’s dividend yield of 0.5% is a competitive one in an industry that virtually offers no income.
Company Description
Polo Ralph Lauren Corporation designs, markets and distributes premium lifestyle products in four categories: apparel, home, accessories and fragrances.
The Company’s brand names include Polo by Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren Collection, Black Label, Blue Label, Lauren by Ralph Lauren, RRL, RLX, Rugby, Ralph Lauren Childrenswear, American Living, Chaps and Club Monaco.
Rewarding Shareholders
Polo Ralph Lauren recently upped its quarterly dividend to 10 cents per share, doubling the previous quarter’s payout. The dividend is payable on January 8 to shareholders of record at the close of business on December 24.
The company’s dividend yield of 0.5% is a competitive one in an industry that virtually offers no income.
Strong Results
The company posted fiscal second-quarter earnings of $1.80 per share, eclipsing the Zacks Consensus Estimate by 37% and outpacing last year’s $1.58.
Net revenues of $1.4 billion slipped 4% year-over-year .
“Our results have exceeded our expectations for the first half of the year, reflecting market share gains across products and regions and disciplined operational management,” said Roger Farah, President and Chief Operating Officer. “In the back half of Fiscal 2010, we will continue to invest in high growth international markets and exciting new product categories, both critical components of our long-term strategic objectives. We are raising our sales expectations for the remainder of the year, but we continue to be cautious with our outlook and are planning accordingly.”
Bullish Forecasts and Strong Momentum
For the fiscal year ending March 2010, the Zacks Consensus Estimate of $4.18 per share was increased from last month’s $4.12. For the following year, analysts polled by Zacks are pegging forecasts at $4.70 per share, compared to last month’s $4.65.
Shares of RL nearly quadrupled the market’s return over the past year.
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