Equities analysts forecast that G-III Apparel Group, Ltd. (NASDAQ:GIII) will announce $1.08 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for G-III Apparel Group’s earnings. G-III Apparel Group reported sales of $1.02 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.9%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, December 4th.
According to Zacks, analysts expect that G-III Apparel Group will report full year sales of $3.07 billion for the current fiscal year, with estimates ranging from $3.06 billion to $3.10 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.23 billion, with estimates ranging from $3.18 billion to $3.28 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover G-III Apparel Group.
G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, September 6th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.19. G-III Apparel Group had a net margin of 3.39% and a return on equity of 10.67%. The firm had revenue of $624.70 million during the quarter, compared to analysts’ expectations of $590.16 million. During the same period in the previous year, the business posted ($0.15) EPS. The business’s revenue was up 16.1% compared to the same quarter last year.
Several equities analysts recently issued reports on GIII shares. TheStreet upgraded shares of G-III Apparel Group from a “c+” rating to a “b-” rating in a research note on Tuesday, June 26th. BidaskClub upgraded shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 11th. Buckingham Research boosted their target price on shares of G-III Apparel Group from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, September 7th. ValuEngine cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Finally, Needham & Company LLC started coverage on shares of G-III Apparel Group in a research note on Thursday, June 21st. They issued a “buy” rating and a $53.00 target price for the company. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $52.18.
Shares of GIII traded up $0.05 during trading hours on Wednesday, hitting $40.28. The stock had a trading volume of 978,800 shares, compared to its average volume of 644,214. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.12 and a quick ratio of 0.99. G-III Apparel Group has a fifty-two week low of $23.19 and a fifty-two week high of $51.20. The stock has a market cap of $2.37 billion, a P/E ratio of 24.94, a P/E/G ratio of 1.23 and a beta of 0.08.
In other G-III Apparel Group news, Director Bokhorst Willem Van sold 9,323 shares of the company’s stock in a transaction on Friday, July 13th. The shares were sold at an average price of $44.04, for a total transaction of $410,584.92. Following the completion of the transaction, the director now directly owns 45,451 shares in the company, valued at $2,001,662.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.80% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Copper Rock Capital Partners LLC acquired a new stake in shares of G-III Apparel Group in the third quarter valued at about $24,060,000. Millennium Management LLC raised its position in shares of G-III Apparel Group by 87.2% in the first quarter. Millennium Management LLC now owns 941,324 shares of the textile maker’s stock valued at $35,469,000 after buying an additional 438,499 shares during the last quarter. BlackRock Inc. raised its position in shares of G-III Apparel Group by 6.5% in the second quarter. BlackRock Inc. now owns 5,782,367 shares of the textile maker’s stock valued at $256,736,000 after buying an additional 351,433 shares during the last quarter. OppenheimerFunds Inc. raised its position in shares of G-III Apparel Group by 745.4% in the second quarter. OppenheimerFunds Inc. now owns 376,984 shares of the textile maker’s stock valued at $16,739,000 after buying an additional 332,389 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of G-III Apparel Group by 1,640.5% in the second quarter. Jennison Associates LLC now owns 271,525 shares of the textile maker’s stock valued at $12,056,000 after buying an additional 255,925 shares during the last quarter.
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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