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Market Update: Ralph Lauren Corporation (NYSE:RL) – Ralph Lauren to cut about 1,000 jobs and shut shops

[Reuters] – Shares of Ralph Lauren, which also forecast declines in full-year and first-quarter revenue, fell as much as 10.4 percent to $86.32 in early trading on Tuesday. Ralph Lauren, like some other luxury brands, has been struggling amid sluggish spending on luxury apparel and accessories. Ralph Lauren said on Tuesday it would try to reduce the time taken to get new products to shelves to nine months from 15. Read more on this. Ralph Lauren Corporation (RL) , valued at $7.80B, started trading this morning at $86.25. Looking at today’s market, RL one day range is $86.25 to $96.14 with a trailing 52-week range being $82.15 to $141.03. RL shares are currently priced at 15.22x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.52x forward p/e ratio. The company pays shareholders $2.00 per share in dividend income per year, for a current yield of 2.09%. According to a consensus of 20 analysts, the earnings estimate of $0.98 per share would be $0.11 worse than the year-ago quarter and a $0.03 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $6.33 would be a $0.03 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.56 Billion. If realized, that would be a 3.70% decrease over the year-ago quarter. More recently, BB&T Capital Mkts Initiated RL at Buy (May 20, 2016). Previously, Miller Tabak Initiated RL at to Buy. Given all the information above, we should disclose to readers that the average price target is $101.30, which is 17.45% above than it opened this morning. See more in (NYSE:RL) Similar Articles: Company Update: Ralph Lauren Corporation (NYSE:RL) – Ralph Lauren Corporation Announces Departure of Christopher Peterson Company Update (NYSE:RL): Ralph Lauren’s quarterly sales fall 4.3 pct Company Update (NYSE:RL): Ralph Lauren Third Quarter Fiscal Year 2016 Results to Be Released Thursday, February 4, 2016
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