G-III Apparel Group (NASDAQ:GIII) issued an update on its FY 2020 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.15-3.25 for the period, compared to the Thomson Reuters consensus estimate of $3.17. The company issued revenue guidance of $3.3-3.3 billion, compared to the consensus revenue estimate of $3.25 billion.G-III Apparel Group also updated its FY20 guidance to ~$3.15-3.25 EPS.
GIII traded up $4.91 during trading on Thursday, reaching $23.75. The stock had a trading volume of 333,185 shares, compared to its average volume of 701,995. The stock’s 50 day moving average is $23.83 and its two-hundred day moving average is $31.56. The company has a current ratio of 2.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $922.99 million, a price-to-earnings ratio of 8.38, a P/E/G ratio of 0.54 and a beta of 1.47. G-III Apparel Group has a one year low of $18.18 and a one year high of $50.83.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $643.90 million during the quarter, compared to the consensus estimate of $656.16 million. G-III Apparel Group had a return on equity of 12.59% and a net margin of 4.53%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, equities research analysts predict that G-III Apparel Group will post 3.26 earnings per share for the current year.
A number of equities analysts have issued reports on GIII shares. Telsey Advisory Group downgraded G-III Apparel Group from an outperform rating to a market perform rating and decreased their price objective for the stock from $34.00 to $20.00 in a report on Tuesday. ValuEngine downgraded G-III Apparel Group from a hold rating to a sell rating in a report on Monday, May 13th. Zacks Investment Research downgraded G-III Apparel Group from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. KeyCorp reduced their price target on G-III Apparel Group from $52.00 to $45.00 and set an overweight rating for the company in a report on Thursday, June 6th. Finally, Stifel Nicolaus downgraded G-III Apparel Group from a buy rating to a hold rating and reduced their price target for the company from $37.00 to $20.00 in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. G-III Apparel Group presently has a consensus rating of Hold and an average target price of $33.30.
In other G-III Apparel Group news, CEO Morris Goldfarb acquired 37,106 shares of G-III Apparel Group stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average cost of $25.39 per share, for a total transaction of $942,121.34. Following the acquisition, the chief executive officer now owns 3,210,483 shares of the company’s stock, valued at $81,514,163.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is owned by company insiders.
G-III Apparel Group Company Profile
G-III Apparel Group, Ltd. designs, sources, 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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