Superior Group of Companies (NASDAQ:SGC) Releases Earnings Results, Beats Expectations By $0.13 EPS

Superior Group of Companies (NASDAQ:SGC) issued its quarterly earnings data on Wednesday. The textile maker reported $0.33 EPS for the quarter, topping the consensus estimate of $0.20 by $0.13, Zacks reports. The company had revenue of $149.69 million during the quarter, compared to analyst estimates of $143.03 million. Superior Group of Companies had a return on equity of 6.74% and a net margin of 2.37%. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Superior Group of Companies updated its FY 2024 guidance to 0.730-0.790 EPS.

Superior Group of Companies Trading Down 2.0 %

Shares of Superior Group of Companies stock traded down $0.35 during trading on Friday, reaching $17.44. The company’s stock had a trading volume of 62,480 shares, compared to its average volume of 93,337. The company has a quick ratio of 1.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.36. Superior Group of Companies has a 52-week low of $9.86 and a 52-week high of $21.80. The firm’s 50-day moving average is $15.12 and its two-hundred day moving average is $17.06. The company has a market cap of $292.54 million, a price-to-earnings ratio of 21.01, a PEG ratio of 2.22 and a beta of 1.42.

Superior Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.21%. Superior Group of Companies’s payout ratio is 67.47%.

Insider Buying and Selling

In related news, insider Jake Himelstein bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $13.00 per share, for a total transaction of $26,000.00. Following the acquisition, the insider now directly owns 40,825 shares of the company’s stock, valued at $530,725. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Benstock acquired 10,000 shares of Superior Group of Companies stock in a transaction on Friday, August 16th. The shares were acquired at an average cost of $13.45 per share, with a total value of $134,500.00. Following the transaction, the chief executive officer now owns 583,848 shares in the company, valued at $7,852,755.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jake Himelstein acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $13.00 per share, with a total value of $26,000.00. Following the completion of the acquisition, the insider now directly owns 40,825 shares in the company, valued at approximately $530,725. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,500 shares of company stock worth $206,700 in the last 90 days. 27.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on SGC shares. StockNews.com cut shares of Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. DA Davidson reiterated a “buy” rating and issued a $24.00 target price on shares of Superior Group of Companies in a research report on Tuesday, October 8th. Finally, Barrington Research lowered their price target on Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 21st.

About Superior Group of Companies

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Branded Products, Healthcare Apparel, and Contact Centers. The Branded Products segment produces and sells customized merchandising solutions, promotional products, and branded uniform to chain retailer, food service, entertainment, technology, transportation, and other industries under BAMKO and HPI brands.