G-III Apparel Group (GIII) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS
G-III Apparel Group (NASDAQ:GIII) announced its quarterly earnings data on Thursday. The textile maker reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.07, MarketWatch Earnings reports. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned $1.67 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. G-III Apparel Group updated its FY 2019 guidance to $2.67-2.77 EPS and its FY19 guidance to $2.67-2.77 EPS.
NASDAQ:GIII opened at $34.91 on Friday. The company has a current ratio of 2.12, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.00 billion, a P/E ratio of 21.82, a PEG ratio of 1.04 and a beta of 0.33. G-III Apparel Group has a 12 month low of $30.36 and a 12 month high of $51.20.
In related news, COO Wayne S. Miller sold 19,448 shares of the business’s 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 sale, the chief operating officer now directly owns 248,621 shares in the company, valued at $9,967,215.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.80% of the stock is currently owned by insiders.
Several equities analysts have recently commented on the company. Piper Jaffray Companies set a $50.00 price objective on G-III Apparel Group and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research downgraded G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 13th. BidaskClub upgraded G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 2nd. Cowen set a $45.00 price objective on G-III Apparel Group and gave the company a “buy” rating in a research report on Thursday, October 18th. Finally, B. Riley upgraded G-III Apparel Group from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Thursday, October 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. G-III Apparel Group currently has an average rating of “Buy” and a consensus target price of $50.27.
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G-III Apparel Group Company Profile
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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