G-III Apparel Group (NASDAQ:GIII) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.72-1.82 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.86. The company issued revenue guidance of ~$1.08 billion, compared to the consensus revenue estimate of $1.07 billion.G-III Apparel Group also updated its FY19 guidance to $2.52-2.62 EPS.
NASDAQ GIII opened at $46.05 on Friday. The company has a market cap of $2.17 billion, a PE ratio of 28.78, a PEG ratio of 1.25 and a beta of 0.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.35 and a quick ratio of 1.33. G-III Apparel Group has a 1-year low of $23.19 and a 1-year high of $51.20.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 6th. The textile maker reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.19. The company had revenue of $624.70 million during the quarter, compared to analyst estimates of $590.16 million. G-III Apparel Group had a net margin of 2.85% and a return on equity of 9.15%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) earnings per share. equities analysts predict that G-III Apparel Group will post 2.35 earnings per share for the current year.
GIII has been the subject of a number of research reports. TheStreet raised shares of G-III Apparel Group from a c+ rating to a b- rating in a report on Tuesday, June 26th. Needham & Company LLC initiated coverage on shares of G-III Apparel Group in a report on Thursday, June 21st. They issued a buy rating and a $53.00 price target for the company. Buckingham Research raised their price target on shares of G-III Apparel Group from $45.00 to $55.00 and gave the company a buy rating in a report on Wednesday, June 6th. Cowen set a $54.00 price target on shares of G-III Apparel Group and gave the company a buy rating in a report on Wednesday, June 6th. Finally, BidaskClub lowered shares of G-III Apparel Group from a strong-buy rating to a buy rating in a report on Tuesday, July 3rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. G-III Apparel Group currently has an average rating of Buy and a consensus price target of $48.55.
In other G-III Apparel Group news, CEO Morris Goldfarb sold 770,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $47.32, for a total value of $36,436,400.00. Following the transaction, the chief executive officer now directly owns 3,812,427 shares of the company’s stock, valued at $180,404,045.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bokhorst Willem Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $47.00, for a total transaction of $94,000.00. Following the completion of the transaction, the director now directly owns 54,774 shares in the company, valued at $2,574,378. The disclosure for this sale can be found here. In the last three months, insiders sold 942,513 shares of company stock valued at $44,534,646. 9.80% of the stock is currently owned by company insiders.
G-III Apparel Group Company Profile
G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.
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