Wall Street brokerages predict that G-III Apparel Group, Ltd. (NASDAQ:GIII) will announce $1.08 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for G-III Apparel Group’s earnings. G-III Apparel Group posted sales of $1.02 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.9%. The company is expected to announce its next quarterly earnings results on Tuesday, December 4th.
On average, analysts expect that G-III Apparel Group will report full year sales of $3.07 billion for the current fiscal year, with estimates ranging from $3.06 billion to $3.10 billion. For the next financial year, analysts forecast that the business will report sales of $3.24 billion per share, with estimates ranging from $3.18 billion to $3.28 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for G-III Apparel Group.
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 (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.19. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The company had revenue of $624.70 million for the quarter, compared to the consensus estimate of $590.16 million. During the same period in the previous year, the business earned ($0.15) EPS. G-III Apparel Group’s revenue for the quarter was up 16.1% compared to the same quarter last year.
GIII has been the topic of several analyst reports. ValuEngine downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Friday, September 7th. TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b-” rating in a report on Tuesday, June 26th. Piper Jaffray Companies set a $51.00 price objective on G-III Apparel Group and gave the stock a “buy” rating in a report on Thursday, September 6th. Telsey Advisory Group lifted their price objective on G-III Apparel Group from $48.00 to $54.00 and gave the stock an “outperform” rating in a report on Saturday, June 9th. Finally, Cowen set a $54.00 price objective on G-III Apparel Group and gave the stock a “buy” rating in a report on Wednesday, June 6th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. G-III Apparel Group presently has an average rating of “Buy” and a consensus target price of $51.91.
In related news, CEO Morris Goldfarb sold 770,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $47.32, for a total transaction of $36,436,400.00. Following the completion of the transaction, the chief executive officer now owns 3,812,427 shares in the company, valued at approximately $180,404,045.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bokhorst Willem Van sold 2,000 shares of the business’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 value of $94,000.00. Following the transaction, the director now owns 54,774 shares of the company’s stock, valued at approximately $2,574,378. The disclosure for this sale can be found here. Insiders sold a total of 781,323 shares of company stock valued at $36,940,985 over the last quarter. Company insiders own 9.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in G-III Apparel Group by 6.5% during the 2nd quarter. BlackRock Inc. now owns 5,782,367 shares of the textile maker’s stock valued at $256,736,000 after purchasing an additional 351,433 shares during the period. Dimensional Fund Advisors LP boosted its position in G-III Apparel Group by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,131,311 shares of the textile maker’s stock valued at $155,668,000 after purchasing an additional 42,293 shares during the period. Channing Capital Management LLC boosted its position in G-III Apparel Group by 5.7% during the 2nd quarter. Channing Capital Management LLC now owns 1,404,008 shares of the textile maker’s stock valued at $62,338,000 after purchasing an additional 75,585 shares during the period. Royal Bank of Canada boosted its position in G-III Apparel Group by 14.6% during the 1st quarter. Royal Bank of Canada now owns 1,295,215 shares of the textile maker’s stock valued at $48,803,000 after purchasing an additional 164,565 shares during the period. Finally, WS Management Lllp boosted its position in G-III Apparel Group by 3.2% during the 1st quarter. WS Management Lllp now owns 963,100 shares of the textile maker’s stock valued at $36,290,000 after purchasing an additional 30,000 shares during the period.
GIII stock opened at $46.90 on Friday. The company has a current ratio of 2.12, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45. G-III Apparel Group has a 52-week low of $23.19 and a 52-week high of $51.20. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.21 and a beta of 0.17.
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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