Brokerages expect G-III Apparel Group, Ltd. (NASDAQ: GIII) reports revenue of $ 463.83 million for the current fiscal quarter, Zacks reports. Six analysts have estimated G-III Apparel Group earnings. The highest sales estimate is $ 471.70 million and the lowest is $ 460.80 million. G-III Apparel Group posted sales of $ 297.21 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 56.1 percent. The company is expected to release its next earnings report on Wednesday, September 8.
Zacks says analysts expect G-III Apparel Group to report annual revenue of $ 2.58 billion for the current fiscal year, with estimates ranging from $ 2.57 billion to $ 2.60 billion of dollars. For the next fiscal year, analysts predict the company will post revenue of $ 2.79 billion, with estimates ranging from $ 2.75 billion to $ 2.87 billion. Zacks sales averages are an average based on a survey of sales-side research analysts who provide coverage for G-III Apparel Group.
G-III Apparel Group (NASDAQ: GIII) last released its quarterly results on Sunday, June 6. The textile maker reported earnings per share (EPS) of $ 0.53 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.15 of $ 0.38. G-III Apparel Group recorded a return on equity of 7.54% and a net margin of 4.11%. The company posted revenue of $ 519.90 million in the quarter, compared to analysts’ expectations of $ 462.60 million. In the same quarter of the previous year, the company posted ($ 0.75) earnings per share. The company’s revenue for the quarter increased 28.3% compared to the same quarter last year.
Several research analysts recently published reports on the company. Zacks Investment Research downgraded G-III Apparel Group from a “buy” rating to a “keep” rating and set a price target of $ 36.00 for the company. in a research note on Wednesday, May 19. KeyCorp raised its price target on G-III Apparel Group from $ 30.00 to $ 38.00 and assigned the company an “overweight” rating in a report released on Friday, March 19. Barclays raised its price target on G-III Apparel Group from $ 27.00 to $ 30.00 and gave the company an “underweight” rating in a report released on Tuesday, June 8. Telsey Advisory Group raised its price target on G-III Apparel Group from $ 33.00 to $ 38.00 and gave the company a “market performance” rating in a report released on Tuesday, June 8. Finally, B. Riley increased his price target on G-III Apparel Group from $ 39.00 to $ 41.00 and gave the company a “buy” rating in a report released on Tuesday, June 8. One analyst rated the stock with a sell rating, four issued a conservation rating, and two assigned a buy rating to the company’s stock. G-III Apparel Group has a consensus rating of “Hold” and a consensus target price of $ 33.57.
NASDAQ: GIII opened at $ 30.52 on Friday. G-III Apparel Group has a one-year minimum of $ 9.30 and a one-year maximum of $ 35.80. The company has a market cap of $ 1.48 billion, a PE ratio of 16.86, a price / earnings-growth ratio of 1.01 and a beta of 2.99. The stock has a fifty-day simple moving average of $ 32.70. The company has a debt to equity ratio of 0.38, a quick ratio of 2.81 and a current ratio of 3.81.
In addition, director Alan Feller sold 10,000 shares in a transaction dated Thursday, June 17. The stock was sold for an average price of $ 31.85, for a total value of $ 318,500.00. After the sale closes, the director now directly owns 25,654 shares of the company, valued at approximately $ 817,079.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Additionally, director Thomas Brosig sold 8,188 shares in a transaction dated Monday, April 12. The stock was sold for an average price of $ 31.35, for a total value of $ 256,693.80. Following the completion of the sale, the Director now directly owns 29,548 shares of the company, valued at $ 926,329.80. Disclosure of this sale can be found here. Company insiders own 9.60% of the company’s shares.
A number of institutional investors have recently changed their positions in the stock. Public Employees Retirement System of Ohio increased its stake in G-III Apparel Group by 3.7% in the 1st quarter. The Ohio State Employee Retirement System now owns 9,444 shares of the textile maker worth $ 285,000 after acquiring 339 more shares in the last quarter. Mutual of America Capital Management LLC increased its stake in G-III Apparel Group by 7.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 5,812 shares of the textile maker valued at $ 175,000 after acquiring 411 additional shares in the last quarter. PNC Financial Services Group Inc. increased its stake in G-III Apparel Group by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 16,867 shares of the textile maker valued at $ 509,000 after acquiring 442 additional shares in the last quarter. Advisor Partners LLC increased its stake in G-III Apparel Group by 5.5% in the 4th quarter. Advisor Partners LLC now owns 12,834 shares of the textile maker valued at $ 305,000 after acquiring 673 additional shares in the last quarter. Finally, LPL Financial LLC raised its stake in G-III Apparel Group from 7.3% in the 4th quarter. LPL Financial LLC now owns 11,850 shares of the textile maker valued at $ 281,000 after acquiring 805 additional shares in the last quarter. 94.43% of the shares are held by hedge funds and other institutional investors.
About the G-III clothing group
G-III Apparel Group, Ltd. designs, sources and markets apparel for women and men in the United States and around the world. 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, shoes, small leather goods, cold weather accessories and luggage.
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