Oxford Industries (NYSE:OXM) Releases FY 2024 Earnings Guidance

Oxford Industries (NYSE:OXM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 6.500-6.700 for the period, compared to the consensus estimate of 7.060. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. Oxford Industries also updated its Q4 guidance to $1.18-$1.38 EPS.

Oxford Industries Stock Up 1.0 %

NYSE OXM traded up $0.82 on Wednesday, hitting $84.11. The company’s stock had a trading volume of 592,799 shares, compared to its average volume of 277,951. Oxford Industries has a 1-year low of $72.24 and a 1-year high of $113.88. The company’s 50-day moving average is $77.75 and its 200 day moving average is $88.93. The firm has a market cap of $1.32 billion, a PE ratio of 46.21 and a beta of 1.56.

Oxford Industries (NYSE:OXM) last posted its quarterly earnings data on Wednesday, December 11th. The textile maker reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.20). Oxford Industries had a return on equity of 21.93% and a net margin of 1.92%. The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $316.84 million. During the same quarter last year, the company earned $1.01 earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities analysts expect that Oxford Industries will post 7.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Oxford Industries from $92.00 to $65.00 and set a “sell” rating on the stock in a research note on Friday, September 13th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $86.00 price objective on shares of Oxford Industries in a research note on Wednesday, December 4th. Finally, UBS Group dropped their price objective on shares of Oxford Industries from $101.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th.

Insider Transactions at Oxford Industries

In other news, EVP Scott Grassmyer sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $86.77, for a total value of $129,721.15. Following the completion of the transaction, the executive vice president now directly owns 31,428 shares in the company, valued at approximately $2,727,007.56. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.70% of the company’s stock.

About Oxford Industries

Oxford Industries, Inc, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men's and women's sportswear and related products under the Tommy Bahama brand; and women's and girl's dresses and sportswear, scarves, bags, jewelry, and belts, as well as children's apparel, swim, footwear, and licensed products under the Lilly Pulitzer brand.