G-III Apparel Group (GIII) Announces Earnings Results
G-III Apparel Group (NASDAQ:GIII) announced its earnings results on Thursday. The textile maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.16 by $0.10, Bloomberg Earnings reports. The company had revenue of $714.90 million for the quarter, compared to analysts’ expectations of $707.64 million. G-III Apparel Group had a return on equity of 5.65% and a net margin of 1.58%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) earnings per share. G-III Apparel Group updated its FY19 guidance to $1.98-2.08 EPS.
G-III Apparel Group (GIII) opened at $33.01 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.91 and a current ratio of 3.52. G-III Apparel Group has a one year low of $18.00 and a one year high of $40.96. The stock has a market capitalization of $1,841.03, a price-to-earnings ratio of 39.30, a PEG ratio of 1.23 and a beta of 0.26.
Several analysts have recently commented on the company. B. Riley set a $38.00 target price on G-III Apparel Group and gave the stock a “hold” rating in a report on Friday. Telsey Advisory Group decreased their target price on G-III Apparel Group from $53.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday. BidaskClub upgraded G-III Apparel Group from a “sell” rating to a “hold” rating in a report on Friday. Barclays increased their target price on G-III Apparel Group from $29.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, January 25th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of G-III Apparel Group in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $35.91.
Institutional investors and hedge funds have recently modified their holdings of the company. Elkfork Partners LLC acquired a new position in shares of G-III Apparel Group during the fourth quarter valued at $156,000. Zions Bancorporation acquired a new position in shares of G-III Apparel Group during the third quarter valued at $151,000. CIBC Asset Management Inc acquired a new position in shares of G-III Apparel Group during the fourth quarter valued at $210,000. Amalgamated Bank acquired a new position in shares of G-III Apparel Group during the fourth quarter valued at $230,000. Finally, Invictus RG acquired a new position in shares of G-III Apparel Group during the third quarter valued at $185,000. 98.30% of the stock is currently owned by institutional investors and hedge funds.
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About G-III Apparel Group
G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.
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