G-III Apparel Group, Ltd. (GIII) Expected to Post Quarterly Sales of $590.48 Million

Equities research analysts expect G-III Apparel Group, Ltd. (NASDAQ:GIII) to announce sales of $590.48 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for G-III Apparel Group’s earnings. The lowest sales estimate is $589.00 million and the highest is $591.50 million. G-III Apparel Group reported sales of $538.01 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.8%. The company is expected to announce its next quarterly earnings report on Wednesday, September 5th.

On average, analysts expect that G-III Apparel Group will report full-year sales of $2.98 billion for the current fiscal year, with estimates ranging from $2.97 billion to $2.98 billion. For the next fiscal year, analysts expect that the business will report sales of $3.15 billion per share, with estimates ranging from $3.09 billion to $3.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover G-III Apparel Group.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Tuesday, June 5th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.27. The company had revenue of $611.70 million during the quarter, compared to analysts’ expectations of $570.59 million. G-III Apparel Group had a return on equity of 9.15% and a net margin of 2.85%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) earnings per share.



Several research analysts have recently commented on GIII shares. Zacks Investment Research lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. BidaskClub upgraded G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 7th. ValuEngine upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. KeyCorp raised their price target on G-III Apparel Group from $45.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 6th. Finally, Stifel Nicolaus raised their price target on G-III Apparel Group from $33.00 to $45.00 and gave the stock a “hold” rating in a research report on Wednesday, June 6th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. G-III Apparel Group presently has a consensus rating of “Buy” and an average target price of $47.17.

In related news, Director Bokhorst Willem Van sold 9,323 shares of G-III Apparel Group stock in a transaction on Friday, July 13th. The stock was sold at an average price of $44.04, for a total value of $410,584.92. Following the completion of the transaction, the director now directly owns 45,451 shares in the company, valued at $2,001,662.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey David Goldfarb sold 20,000 shares of G-III Apparel Group stock in a transaction on Friday, June 8th. The shares were sold at an average price of $49.08, for a total value of $981,600.00. Following the completion of the transaction, the executive vice president now owns 406,043 shares of the company’s stock, valued at $19,928,590.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 967,513 shares of company stock valued at $45,759,996. 9.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in GIII. Millennium Management LLC lifted its holdings in G-III Apparel Group by 2,669.2% during the 4th quarter. Millennium Management LLC now owns 502,825 shares of the textile maker’s stock worth $18,549,000 after buying an additional 484,667 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in G-III Apparel Group during the 4th quarter worth about $8,400,000. Elk Creek Partners LLC purchased a new stake in G-III Apparel Group during the 1st quarter worth about $6,736,000. Columbus Circle Investors lifted its holdings in G-III Apparel Group by 11.3% during the 1st quarter. Columbus Circle Investors now owns 1,701,637 shares of the textile maker’s stock worth $64,118,000 after buying an additional 172,747 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of G-III Apparel Group by 77.3% during the first quarter. New York State Common Retirement Fund now owns 389,943 shares of the textile maker’s stock worth $14,693,000 after purchasing an additional 169,958 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

GIII stock traded down $0.09 during midday trading on Friday, hitting $44.81. 257,158 shares of the company’s stock were exchanged, compared to its average volume of 636,040. The company has a quick ratio of 1.33, a current ratio of 2.35 and a debt-to-equity ratio of 0.41. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 1.27 and a beta of 0.31. G-III Apparel Group has a 1-year low of $22.66 and a 1-year high of $51.20.

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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