G-III Apparel Group (NASDAQ:GIII) Releases Earnings Results, Beats Expectations By $0.38 EPS

G-III Apparel Group (NASDAQ:GIII) posted its quarterly earnings results on Sunday. The textile maker reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.38, MarketWatch Earnings reports. G-III Apparel Group had a return on equity of 2.85% and a net margin of 1.15%. The firm had revenue of $519.90 million for the quarter, compared to the consensus estimate of $462.60 million. During the same period in the previous year, the business earned ($0.75) earnings per share. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year.

Shares of NASDAQ:GIII traded up $0.18 on Tuesday, hitting $34.98. The company had a trading volume of 22,531 shares, compared to its average volume of 507,460. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.31 and a current ratio of 3.34. G-III Apparel Group has a 52-week low of $9.30 and a 52-week high of $35.80. The business has a 50 day moving average of $32.05. The firm has a market capitalization of $1.69 billion, a P/E ratio of 75.65, a PEG ratio of 1.19 and a beta of 2.98.

A number of research firms recently weighed in on GIII. KeyCorp lifted their price target on G-III Apparel Group from $30.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, March 19th. Telsey Advisory Group boosted their target price on G-III Apparel Group from $33.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday. Barclays boosted their target price on G-III Apparel Group from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Tuesday. B. Riley boosted their target price on G-III Apparel Group from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Piper Sandler boosted their target price on G-III Apparel Group from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $31.50.

In other news, Director Thomas Brosig sold 8,188 shares of the company’s stock in a transaction on Monday, April 12th. The stock was sold at an average price of $31.35, for a total value of $256,693.80. Following the sale, the director now directly owns 29,548 shares in the company, valued at $926,329.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Wayne S. Miller sold 65,783 shares of the company’s stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $33.71, for a total value of $2,217,544.93. Following the completion of the sale, the chief operating officer now owns 249,201 shares in the company, valued at $8,400,565.71. The disclosure for this sale can be found here. 9.60% of the stock is owned by corporate insiders.

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 for G-III Apparel Group (NASDAQ:GIII)

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