G-III Apparel Group (NASDAQ:GIII) issued an update on its FY 2020 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.25-3.35 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.29. The company issued revenue guidance of $3.28-3.28 billion, compared to the consensus revenue estimate of $3.28 billion.G-III Apparel Group also updated its FY20 guidance to $3.25-3.35 EPS.
Shares of GIII 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 stock has a market cap of $1.39 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.81 and a beta of 1.37. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 2.17. The company’s 50 day simple moving average is $28.47. G-III Apparel Group has a one year low of $23.34 and a one year high of $50.83.
G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Wednesday, June 5th. The textile maker reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. The business had revenue of $633.60 million during 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 revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, analysts anticipate that G-III Apparel Group will post 3.27 earnings per share for the current fiscal year.
In other G-III Apparel Group news, Vice Chairman Sammy Aaron sold 71,766 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $41.33, for a total transaction of $2,966,088.78. Following the sale, the insider now directly owns 434,969 shares of the company’s stock, valued at approximately $17,977,268.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Morris Goldfarb bought 37,106 shares of G-III Apparel Group stock in a transaction on Thursday, June 13th. The shares were acquired at an average cost of $25.39 per share, for a total transaction of $942,121.34. Following the completion of the acquisition, the chief executive officer now directly owns 3,210,483 shares in the company, valued at $81,514,163.37. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 74,692 shares of company stock valued at $3,086,681. 8.60% of the stock is owned by corporate insiders.
About G-III Apparel Group
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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