Shares of VF Corp (NYSE:VF) gained in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $0.17, which beat analysts’ consensus estimate of $0.14 per share. Sales decreased by 2.8% year-over-year, with revenue hitting $2.74 billion. This beat analysts’ expectations of $2.72 billion.
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VF Corp management offered some projections as well for Fiscal Year 2024. Management looks for revenue to be flat or slightly up on a constant-dollar basis, owing to an increasing challenge in the U.S. wholesale market. Meanwhile, earnings per share are projected between $2.05 and $2.25, against a consensus figure of $2.08.
Overall, Wall Street has a consensus price target of $27.27 on VFC stock, implying 43.68% upside potential, as indicated by the graphic above.
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