VF Corp Analysts Lower Their Forecasts After Downbeat Earnings

V.F. Corp VFC reported mixed financial results for its fiscal second quarter and withdrew guidance.

VF Corp reported quarterly sales of $3.03 billion, beating estimates of $3.02 billion. The company reported earnings of 63 cents per share, which missed estimates of 66 cents per share,.

The company withdrew its full-year revenue and earnings guidance. The company said it expects full-year free cash flow of approximately $600 million, down from previous guidance of $900 million.

VF Corp shares dipped 13.7% to trade at $14.78 on Tuesday.

These analysts made changes to their price targets on VF Corp following earnings announcement.

• Telsey Advisory Group cut the price target on VF Corp from $27 to $20. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
• Wedbush lowered the price target on VF Corp from $20 to $15. Wedbush analyst Tom Nikic maintained a Neutral rating.
• BMO Capital slashed the price target on VF Corp from $22 to $18. BMO Capital analyst Simeon Siegel maintained a Market Perform rating.
• Stifel cut the price target on VF Corp from $27 to $24. Stifel analyst Jim Duffy maintained a Buy rating.

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