G-III Apparel Group (NASDAQ:GIII) Releases Earnings Results, Misses Estimates By $0.05 EPS

G-III Apparel Group (NASDAQ:GIII – Get Rating) released its quarterly earnings results on Thursday. The textile maker reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05), Briefing.com reports. The business had revenue of $854.20 million for the quarter, compared to the consensus estimate of $769.28 million. G-III Apparel Group had a net margin of 5.66% and a return on equity of 10.70%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock opened at $15.27 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.68 and a current ratio of 3.09. The firm’s 50-day simple moving average is $15.94 and its 200-day simple moving average is $16.60. G-III Apparel Group has a twelve month low of $11.60 and a twelve month high of $31.70. The firm has a market cap of $725.16 million, a P/E ratio of 4.24, a price-to-earnings-growth ratio of 0.31 and a beta of 2.65.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of G-III Apparel Group in a report on Thursday. They issued a “sell” rating on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $14.00 target price on shares of G-III Apparel Group in a report on Monday. Piper Sandler dropped their target price on shares of G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, December 21st. UBS Group dropped their target price on shares of G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, December 8th. Finally, Wells Fargo & Company decreased their price target on shares of G-III Apparel Group from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.38.

Institutional Trading of G-III Apparel Group

Institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors boosted its position in shares of G-III Apparel Group by 48.4% during the 1st quarter. Captrust Financial Advisors now owns 6,665 shares of the textile maker’s stock valued at $180,000 after acquiring an additional 2,175 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of G-III Apparel Group during the 1st quarter valued at about $203,000. Delphia USA Inc. acquired a new stake in shares of G-III Apparel Group during the 1st quarter valued at about $277,000. Fortis Capital Advisors LLC acquired a new stake in shares of G-III Apparel Group during the 4th quarter valued at about $148,000. Finally, Natixis Advisors L.P. acquired a new stake in shares of G-III Apparel Group during the 1st quarter valued at about $298,000. 88.79% of the stock is currently owned by institutional investors and hedge funds.

About G-III Apparel Group

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G-III Apparel Group Ltd. engages in the designing, sourcing, and marketing of women’s apparel. The firm’s product range includes outerwear, dresses, sportswear, swimwear, women’s suits and performance wear, as well as handbags, footwear, small leather goods, cold weather accessories, and luggage. It operates through the Wholesale and Retail segments.