G-III Apparel Group, Ltd. (NASDAQ:GIII) Expected to Post Quarterly Sales of $1.17 Billion

Equities analysts expect that G-III Apparel Group, Ltd. (NASDAQ:GIII) will report sales of $1.17 billion for the current quarter, according to Zacks. Three analysts have provided estimates for G-III Apparel Group’s earnings. The highest sales estimate is $1.18 billion and the lowest is $1.17 billion. G-III Apparel Group reported sales of $1.07 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.3%. The business is scheduled to report its next quarterly earnings results on Thursday, December 5th.

According to Zacks, analysts expect that G-III Apparel Group will report full year sales of $3.31 billion for the current fiscal year, with estimates ranging from $3.30 billion to $3.33 billion. For the next financial year, analysts anticipate that the business will report sales of $3.40 billion, with estimates ranging from $3.20 billion to $3.49 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow G-III Apparel Group.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, September 5th. The textile maker reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The firm had revenue of $643.90 million during the quarter, compared to the consensus estimate of $656.16 million. G-III Apparel Group had a return on equity of 12.37% and a net margin of 4.53%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share.

Several equities research analysts have recently weighed in on GIII shares. B. Riley decreased their price target on G-III Apparel Group from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Telsey Advisory Group cut G-III Apparel Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $34.00 to $20.00 in a research note on Tuesday, September 3rd. Stifel Nicolaus set a $22.00 price target on G-III Apparel Group and gave the company a “hold” rating in a research note on Friday, September 6th. Bank of America cut G-III Apparel Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $35.00 to $21.00 in a research note on Wednesday, September 4th. Finally, KeyCorp decreased their price target on G-III Apparel Group from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.73.

G-III Apparel Group stock traded up $0.60 during trading hours on Tuesday, hitting $24.55. The stock had a trading volume of 303,395 shares, compared to its average volume of 699,850. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 1.24 and a beta of 1.52. The business’s 50 day simple moving average is $23.05 and its 200-day simple moving average is $30.08. The company has a quick ratio of 0.88, a current ratio of 2.08 and a debt-to-equity ratio of 0.71. G-III Apparel Group has a one year low of $18.18 and a one year high of $44.36.

In other news, CEO Morris Goldfarb purchased 40,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were acquired at an average price of $26.47 per share, for a total transaction of $1,058,800.00. Following the completion of the acquisition, the chief executive officer now owns 3,250,483 shares in the company, valued at $86,040,285.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of G-III Apparel Group by 9.6% in the second quarter. BlackRock Inc. now owns 6,841,163 shares of the textile maker’s stock valued at $201,268,000 after purchasing an additional 599,647 shares in the last quarter. Vanguard Group Inc. lifted its holdings in G-III Apparel Group by 2.9% during the second quarter. Vanguard Group Inc. now owns 4,714,343 shares of the textile maker’s stock worth $138,696,000 after acquiring an additional 131,899 shares during the period. Invesco Ltd. lifted its holdings in G-III Apparel Group by 9.3% during the second quarter. Invesco Ltd. now owns 2,455,719 shares of the textile maker’s stock worth $72,248,000 after acquiring an additional 209,171 shares during the period. Victory Capital Management Inc. lifted its holdings in G-III Apparel Group by 45.9% during the second quarter. Victory Capital Management Inc. now owns 2,266,955 shares of the textile maker’s stock worth $66,694,000 after acquiring an additional 713,195 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in G-III Apparel Group by 46.3% during the second quarter. Nuveen Asset Management LLC now owns 1,181,061 shares of the textile maker’s stock worth $34,747,000 after acquiring an additional 373,781 shares during the period.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, 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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Earnings History and Estimates for G-III Apparel Group (NASDAQ:GIII)

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