G-III Apparel Group (NASDAQ:GIII) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

G-III Apparel Group (NASDAQ:GIII) 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, Briefing.com reports. The business had revenue of $633.60 million for the quarter, compared to the consensus estimate of $650.03 million. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. G-III Apparel Group’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share.

GIII stock traded up $0.85 during midday trading on Friday, reaching $29.42. The stock had a trading volume of 827,855 shares, compared to its average volume of 630,522. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 0.81 and a beta of 1.37. G-III Apparel Group has a twelve month low of $23.34 and a twelve month high of $50.83. The business’s fifty day moving average price is $28.47. The company has a current ratio of 2.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59.

Several research analysts recently commented on the company. BidaskClub cut G-III Apparel Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Piper Jaffray Companies cut G-III Apparel Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $43.00 to $35.00 in a research report on Tuesday, May 14th. KeyCorp reduced their target price on G-III Apparel Group from $52.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. ValuEngine cut G-III Apparel Group from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Finally, Bank of America cut their price objective on G-III Apparel Group from $43.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $41.70.

In related news, Director Laura H. Pomerantz sold 821 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $40.43, for a total value of $33,193.03. Following the completion of the transaction, the director now directly owns 39,682 shares in the company, valued at approximately $1,604,343.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura H. Pomerantz sold 2,105 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $41.52, for a total value of $87,399.60. Following the completion of the transaction, the director now owns 36,756 shares of the company’s stock, valued at $1,526,109.12. The disclosure for this sale can be found here. Insiders have sold a total of 74,692 shares of company stock valued at $3,086,681 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.

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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Earnings History for G-III Apparel Group (NASDAQ:GIII)

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