Equities research analysts forecast that G-III Apparel Group, Ltd. (NASDAQ:GIII) will announce sales of $659.24 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for G-III Apparel Group’s earnings, with the highest sales estimate coming in at $660.35 million and the lowest estimate coming in at $657.70 million. G-III Apparel Group reported sales of $624.70 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, September 5th.
On average, analysts expect that G-III Apparel Group will report full-year sales of $3.27 billion for the current fiscal year, with estimates ranging from $3.25 billion to $3.28 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.47 billion, with estimates ranging from $3.44 billion to $3.49 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover G-III Apparel Group.
G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Wednesday, June 5th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. G-III Apparel Group had a return on equity of 12.59% and a net margin of 4.53%. The company had revenue of $633.60 million for the quarter, compared to analysts’ expectations of $650.03 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. G-III Apparel Group’s revenue was up 3.6% compared to the same quarter last year.
Several analysts have issued reports on the company. BidaskClub cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Piper Jaffray Companies cut G-III Apparel Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $43.00 to $35.00 in a research report on Tuesday, May 14th. Zacks Investment Research cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. TheStreet cut G-III Apparel Group from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th. Finally, Bank of America dropped their target price on G-III Apparel Group from $43.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $41.70.
NASDAQ:GIII traded up $0.31 during midday trading on Friday, hitting $25.70. The stock had a trading volume of 866,350 shares, compared to its average volume of 907,820. G-III Apparel Group has a one year low of $23.34 and a one year high of $50.83. The stock has a market cap of $1.24 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 0.72 and a beta of 1.37. The company has a quick ratio of 1.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.59.
In other news, Director Laura H. Pomerantz sold 2,105 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $41.52, for a total transaction of $87,399.60. Following the completion of the sale, the director now owns 36,756 shares in the company, valued at approximately $1,526,109.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Laura H. Pomerantz sold 821 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $40.43, for a total value of $33,193.03. Following the sale, the director now owns 39,682 shares of the company’s stock, valued at approximately $1,604,343.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,692 shares of company stock valued at $3,086,681. Company insiders own 8.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Blueshift Asset Management LLC purchased a new stake in shares of G-III Apparel Group during the 4th quarter valued at $267,000. Legal & General Group Plc raised its stake in G-III Apparel Group by 0.6% in the 4th quarter. Legal & General Group Plc now owns 102,158 shares of the textile maker’s stock worth $2,846,000 after acquiring an additional 587 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in G-III Apparel Group by 29.8% in the 4th quarter. Dana Investment Advisors Inc. now owns 72,261 shares of the textile maker’s stock worth $2,015,000 after acquiring an additional 16,596 shares during the last quarter. Menta Capital LLC raised its stake in G-III Apparel Group by 37.9% in the 1st quarter. Menta Capital LLC now owns 12,371 shares of the textile maker’s stock worth $494,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Intrust Bank NA raised its stake in G-III Apparel Group by 44.3% in the 4th quarter. Intrust Bank NA now owns 7,546 shares of the textile maker’s stock worth $210,000 after acquiring an additional 2,316 shares during the last quarter.
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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