G-III Apparel Group (NASDAQ:GIII) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of $2.67-2.77 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.61. The company issued revenue guidance of $3.08 billion, compared to the consensus revenue estimate of $3.06 billion.G-III Apparel Group also updated its FY 2019 guidance to $2.67-2.77 EPS.
Shares of GIII opened at $32.85 on Friday. The firm has a market cap of $1.72 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.85 and a beta of 0.33. The company has a current ratio of 2.12, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45. G-III Apparel Group has a one year low of $30.36 and a one year high of $51.20.
G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, December 6th. The textile maker reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. G-III Apparel Group had a return on equity of 11.83% and a net margin of 3.75%. G-III Apparel Group’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 earnings per share. Sell-side analysts anticipate that G-III Apparel Group will post 2.75 EPS for the current year.
GIII has been the topic of a number of research analyst reports. ValuEngine lowered G-III Apparel Group from a buy rating to a hold rating in a report on Friday, September 7th. Buckingham Research lowered their target price on G-III Apparel Group from $57.00 to $50.00 and set a buy rating on the stock in a report on Wednesday, October 17th. Piper Jaffray Companies set a $51.00 target price on G-III Apparel Group and gave the stock a buy rating in a report on Thursday, September 6th. BidaskClub raised G-III Apparel Group from a buy rating to a strong-buy rating in a report on Friday, November 2nd. Finally, B. Riley raised G-III Apparel Group from a neutral rating to a buy rating and set a $47.00 target price on the stock in a report on Thursday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. G-III Apparel Group presently has a consensus rating of Buy and an average price target of $47.91.
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 transaction, the chief operating officer now owns 248,621 shares of the company’s stock, valued at approximately $9,967,215.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.80% of the company’s stock.
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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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