VF Corp Analysts Lower Their Forecasts After Downbeat Earnings
Portfolio Pulse from Lisa Levin
V.F. Corp (NYSE:VFC) reported mixed Q2 results and withdrew its full-year guidance. The company reported quarterly sales of $3.03 billion, slightly beating estimates, but earnings per share of 63 cents missed estimates of 66 cents. Full-year free cash flow is expected to be around $600 million, down from previous guidance of $900 million. Following the announcement, VF Corp shares dipped 13.7% and several analysts lowered their price targets.
October 31, 2023 | 6:16 pm
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V.F. Corp's mixed Q2 results and withdrawal of full-year guidance led to a 13.7% dip in shares and lowered price targets from analysts.
V.F. Corp's earnings miss and withdrawal of full-year guidance are negative signals that have led to a significant drop in share price and lowered price targets from analysts. This suggests a bearish short-term outlook for the stock.
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