Zacks: Analysts Anticipate G-III Apparel Group, Ltd. (GIII) Will Post Earnings of $0.44 Per Share - Fairfield Current
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Wall Street analysts expect G-III Apparel Group, Ltd. (NASDAQ:GIII) to post $0.44 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for G-III Apparel Group’s earnings, with estimates ranging from $0.42 to $0.46. G-III Apparel Group reported earnings per share of $0.26 in the same quarter last year, which indicates a positive year over year growth rate of 69.2%. The company is scheduled to report its next earnings results on Thursday, March 28th.
According to Zacks, analysts expect that G-III Apparel Group will report full year earnings of $2.75 per share for the current year, with EPS estimates ranging from $2.71 to $2.76. For the next financial year, analysts forecast that the company will post earnings of $3.06 per share, with EPS estimates ranging from $2.94 to $3.17. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow G-III Apparel Group.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, December 6th. The textile maker reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. G-III Apparel Group had a return on equity of 11.60% and a net margin of 3.75%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company posted $1.67 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year.
A number of brokerages have recently issued reports on GIII. TheStreet lowered G-III Apparel Group from a “b-” rating to a “c+” rating in a research report on Thursday. Zacks Investment Research lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Barclays lifted their target price on G-III Apparel Group from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, September 7th. Piper Jaffray Companies set a $50.00 target price on G-III Apparel Group and gave the stock a “buy” rating in a research report on Thursday, December 6th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $47.00 target price (down from $54.00) on shares of G-III Apparel Group in a research report on Friday, December 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. G-III Apparel Group has a consensus rating of “Buy” and a consensus target price of $47.45.
In related news, COO Wayne S. Miller sold 19,448 shares of G-III Apparel Group stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $40.09, for a total value of $779,670.32. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.80% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in G-III Apparel Group by 4.0% during the third quarter. BlackRock Inc. now owns 6,012,393 shares of the textile maker’s stock worth $289,737,000 after purchasing an additional 230,026 shares in the last quarter. Vanguard Group Inc. raised its holdings in G-III Apparel Group by 10.9% during the third quarter. Vanguard Group Inc. now owns 4,346,116 shares of the textile maker’s stock worth $209,439,000 after purchasing an additional 426,960 shares in the last quarter. Vanguard Group Inc raised its holdings in G-III Apparel Group by 10.9% during the third quarter. Vanguard Group Inc now owns 4,346,116 shares of the textile maker’s stock worth $209,439,000 after purchasing an additional 426,960 shares in the last quarter. FMR LLC raised its holdings in G-III Apparel Group by 20.1% during the third quarter. FMR LLC now owns 3,239,941 shares of the textile maker’s stock worth $156,132,000 after purchasing an additional 543,174 shares in the last quarter. Finally, Standard Life Aberdeen plc raised its holdings in G-III Apparel Group by 3.9% during the third quarter. Standard Life Aberdeen plc now owns 1,327,655 shares of the textile maker’s stock worth $63,980,000 after purchasing an additional 50,107 shares in the last quarter.
NASDAQ:GIII opened at $27.78 on Friday. G-III Apparel Group has a 12 month low of $25.43 and a 12 month high of $51.20. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 0.67 and a beta of 0.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 2.54.
About G-III Apparel Group
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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