G-III Apparel Group (NASDAQ:GIII) Posts Earnings Results, Beats Estimates By $0.25 EPS

G-III Apparel Group (NASDAQ:GIII) released its earnings results on Thursday. The textile maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.25, Briefing.com reports. The business had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. G-III Apparel Group had a net margin of 5.76% and a return on equity of 12.75%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share.

G-III Apparel Group Price Performance

Shares of GIII stock traded up $1.63 during trading hours on Friday, hitting $32.18. 1,179,265 shares of the company’s stock were exchanged, compared to its average volume of 598,175. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $35.68. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 8.42 and a beta of 2.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.79 and a quick ratio of 2.62. The stock’s 50-day moving average is $26.18 and its 200-day moving average is $27.77.

Analyst Ratings Changes

A number of equities analysts have recently commented on GIII shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday. Barclays lifted their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, KeyCorp boosted their price target on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.80.

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 through 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.