Equities analysts forecast that G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Rating) will post $601.42 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for G-III Apparel Group’s earnings, with estimates ranging from $600.40 million to $601.96 million. G-III Apparel Group posted sales of $519.91 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.7%. The company is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that G-III Apparel Group will report full year sales of $3.01 billion for the current year. For the next fiscal year, analysts anticipate that the business will post sales of $3.12 billion, with estimates ranging from $3.07 billion to $3.18 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for G-III Apparel Group.
G-III Apparel Group (NASDAQ:GIII – Get Rating) last posted its earnings results on Thursday, March 17th. The textile maker reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.34. The firm had revenue of $748.20 million for the quarter, compared to analyst estimates of $740.17 million. G-III Apparel Group had a return on equity of 13.97% and a net margin of 7.25%. The company’s revenue for the quarter was up 42.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share.
GIII opened at $27.32 on Thursday. The business’s 50-day moving average price is $27.61 and its two-hundred day moving average price is $28.22. G-III Apparel Group has a 1 year low of $22.50 and a 1 year high of $35.80. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 6.73 and a beta of 2.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.24 and a quick ratio of 2.23.
In related news, CFO Neal Nackman sold 15,000 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $29.06, for a total value of $435,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Sammy Aaron sold 60,000 shares of the stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $29.82, for a total value of $1,789,200.00. The disclosure for this sale can be found here. 9.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GIII. First Trust Advisors LP boosted its position in G-III Apparel Group by 204.4% during the first quarter. First Trust Advisors LP now owns 61,029 shares of the textile maker’s stock valued at $2,439,000 after acquiring an additional 40,981 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of G-III Apparel Group by 1,388.0% during the 3rd quarter. SG Americas Securities LLC now owns 52,006 shares of the textile maker’s stock worth $1,472,000 after purchasing an additional 48,511 shares in the last quarter. Deutsche Bank AG boosted its position in shares of G-III Apparel Group by 534.7% during the 3rd quarter. Deutsche Bank AG now owns 193,478 shares of the textile maker’s stock worth $5,475,000 after purchasing an additional 162,995 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of G-III Apparel Group by 10.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 21,692 shares of the textile maker’s stock worth $615,000 after purchasing an additional 1,999 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of G-III Apparel Group by 424.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 7,602 shares of the textile maker’s stock worth $237,000 after purchasing an additional 6,153 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors and hedge funds.
G-III Apparel Group Company Profile (Get Rating)
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.
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