KeyCorp Comments on G-III Apparel Group, Ltd.’s FY2018 Earnings (GIII)
G-III Apparel Group, Ltd. (NASDAQ:GIII) – Analysts at KeyCorp boosted their FY2018 earnings estimates for shares of G-III Apparel Group in a research report issued on Wednesday. KeyCorp analyst E. Yruma now anticipates that the textile maker will post earnings per share of $1.55 for the year, up from their prior estimate of $1.52. KeyCorp has a “Buy” rating and a $45.00 price target on the stock. KeyCorp also issued estimates for G-III Apparel Group’s Q4 2018 earnings at $0.20 EPS, Q3 2019 earnings at $1.80 EPS, Q4 2019 earnings at $0.20 EPS and FY2019 earnings at $2.02 EPS.
A number of other equities analysts also recently commented on GIII. B. Riley reissued a “buy” rating on shares of G-III Apparel Group in a research report on Wednesday, November 1st. Piper Jaffray Companies reissued a “buy” rating on shares of G-III Apparel Group in a research report on Wednesday. BidaskClub raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Cowen set a $30.00 price target on G-III Apparel Group and gave the company a “hold” rating in a report on Thursday, October 12th. Finally, Barclays initiated coverage on G-III Apparel Group in a report on Tuesday, September 19th. They issued an “underweight” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $35.00.
Shares of G-III Apparel Group (GIII) traded up $1.54 during trading on Friday, hitting $40.16. The stock had a trading volume of 701,200 shares, compared to its average volume of 811,175. G-III Apparel Group has a 1-year low of $18.00 and a 1-year high of $40.27. The firm has a market capitalization of $1,910.00, a P/E ratio of 47.81, a PEG ratio of 1.74 and a beta of 0.28. 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 (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 5th. The textile maker reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.13. G-III Apparel Group had a return on equity of 5.65% and a net margin of 1.58%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $1.50 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. California Public Employees Retirement System lifted its stake in G-III Apparel Group by 11.9% in the third quarter. California Public Employees Retirement System now owns 97,244 shares of the textile maker’s stock valued at $2,822,000 after buying an additional 10,344 shares during the last quarter. Zions Bancorporation purchased a new stake in G-III Apparel Group in the third quarter valued at approximately $151,000. Jane Street Group LLC purchased a new stake in G-III Apparel Group in the third quarter valued at approximately $236,000. Engineers Gate Manager LP purchased a new stake in G-III Apparel Group in the third quarter valued at approximately $1,011,000. Finally, Invictus RG purchased a new stake in G-III Apparel Group in the third quarter valued at approximately $185,000.
In related news, Vice Chairman Sammy Aaron sold 51,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $33.62, for a total value of $1,714,620.00. Following the completion of the transaction, the insider now directly owns 556,152 shares of the company’s stock, valued at $18,697,830.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bokhorst Willem Van sold 7,518 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $37.51, for a total value of $282,000.18. Following the completion of the transaction, the director now directly owns 48,667 shares of the company’s stock, valued at $1,825,499.17. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.
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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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