Wall Street brokerages expect G-III Apparel Group, Ltd. (NASDAQ:GIII) to post earnings per share of $1.82 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for G-III Apparel Group’s earnings. G-III Apparel Group posted earnings per share of $1.67 in the same quarter last year, which indicates a positive year over year growth rate of 9%. The business is expected to issue its next quarterly earnings report on Tuesday, December 4th.
According to Zacks, analysts expect that G-III Apparel Group will report full year earnings of $2.61 per share for the current financial year, with EPS estimates ranging from $2.57 to $2.62. For the next financial year, analysts forecast that the business will report earnings of $2.93 per share, with EPS estimates ranging from $2.76 to $3.02. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for G-III Apparel Group.
G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, September 6th. The textile maker reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.19. The business had revenue of $624.70 million during the quarter, compared to analysts’ expectations of $590.16 million. G-III Apparel Group had a net margin of 3.39% and a return on equity of 10.67%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) earnings per share.
A number of analysts have recently commented on GIII shares. ValuEngine cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b-” rating in a research note on Tuesday, June 26th. Piper Jaffray Companies set a $51.00 target price on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday, September 6th. Needham & Company LLC set a $56.00 target price on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Friday, September 7th. Finally, Cowen boosted their target price on shares of G-III Apparel Group from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, September 6th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. G-III Apparel Group presently has an average rating of “Buy” and a consensus price target of $51.55.
Shares of GIII stock traded down $0.81 on Thursday, reaching $38.00. 20,417 shares of the company were exchanged, compared to its average volume of 644,790. The stock has a market capitalization of $2.37 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.23 and a beta of 0.08. The company has a quick ratio of 0.99, a current ratio of 2.12 and a debt-to-equity ratio of 0.45. G-III Apparel Group has a 1 year low of $23.19 and a 1 year high of $51.20.
In related news, COO Wayne S. Miller sold 19,448 shares of the business’s stock in a transaction dated Monday, October 8th. The shares were sold at an average price of $40.09, for a total transaction of $779,670.32. Following the transaction, the chief operating officer now directly owns 248,621 shares in the company, valued at $9,967,215.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GIII. Acadian Asset Management LLC acquired a new position in G-III Apparel Group in the 2nd quarter valued at about $193,000. Everence Capital Management Inc. acquired a new position in G-III Apparel Group in the 2nd quarter valued at about $227,000. Xact Kapitalforvaltning AB acquired a new position in G-III Apparel Group in the 1st quarter valued at about $246,000. Brown Advisory Inc. acquired a new position in G-III Apparel Group in the 1st quarter valued at about $264,000. Finally, AMP Capital Investors Ltd acquired a new position in G-III Apparel Group in the 2nd quarter valued at about $266,000.
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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