G-III Apparel Group (NASDAQ:GIII) Issues Earnings Results

G-III Apparel Group (NASDAQ:GIII) released its quarterly earnings data on Wednesday. The textile maker reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.45, MarketWatch Earnings reports. G-III Apparel Group had a net margin of 2.57% and a return on equity of 6.50%. The firm had revenue of $297.20 million for the quarter, compared to the consensus estimate of $327.68 million. During the same period last year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was down 53.8% on a year-over-year basis.

Shares of NASDAQ GIII opened at $14.43 on Friday. The company’s 50-day simple moving average is $11.22 and its 200-day simple moving average is $11.88. G-III Apparel Group has a 52-week low of $2.96 and a 52-week high of $34.42. The firm has a market cap of $681.86 million, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 22.46 and a beta of 2.52. The company has a quick ratio of 2.74, a current ratio of 2.48 and a debt-to-equity ratio of 0.33.

A number of equities research analysts recently commented on GIII shares. Zacks Investment Research cut shares of G-III Apparel Group from a “hold” rating to a “sell” rating and set a $12.00 target price for the company. in a research report on Friday, May 29th. B. Riley decreased their target price on shares of G-III Apparel Group from $25.00 to $23.00 in a research report on Thursday. Stifel Nicolaus increased their target price on shares of G-III Apparel Group from $8.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Telsey Advisory Group increased their target price on shares of G-III Apparel Group from $10.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, June 5th. Finally, Piper Sandler decreased their target price on shares of G-III Apparel Group from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $16.55.

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

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