G-III Apparel Group (GIII) Issues FY 2019 Earnings Guidance
G-III Apparel Group (NASDAQ:GIII) updated its FY 2019 earnings guidance on Thursday. The company provided EPS guidance of $2.67-2.77 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.64. The company issued revenue guidance of $3.08-3.08 billion, compared to the consensus revenue estimate of $3.06 billion.G-III Apparel Group also updated its FY19 guidance to $2.67-2.77 EPS.
Several research firms have commented on GIII. BidaskClub cut shares of G-III Apparel Group from a strong-buy rating to a buy rating in a report on Saturday. ValuEngine cut shares of G-III Apparel Group from a sell rating to a strong sell rating in a report on Friday. Barclays reiterated a hold rating and set a $43.00 price target on shares of G-III Apparel Group in a report on Friday. Needham & Company LLC set a $50.00 price target on shares of G-III Apparel Group and gave the stock a buy rating in a report on Friday. They noted that the move was a valuation call. Finally, KeyCorp lowered their price target on shares of G-III Apparel Group from $58.00 to $52.00 and set an overweight rating for the company in a report on Friday. One investment 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. G-III Apparel Group currently has an average rating of Buy and an average target price of $47.91.
Shares of G-III Apparel Group stock opened at $32.85 on Friday. G-III Apparel Group has a 12-month low of $30.36 and a 12-month high of $51.20. The company has a quick ratio of 0.99, a current ratio of 2.12 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $1.72 billion, a PE ratio of 13.53, a P/E/G ratio of 0.85 and a beta of 0.33.
In other news, COO Wayne S. Miller sold 19,448 shares of the company’s stock in a transaction on Monday, October 8th. The shares were sold at an average price of $40.09, for a total value of $779,670.32. Following the completion of the transaction, the chief operating officer now owns 248,621 shares in the company, valued at approximately $9,967,215.89. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate 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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