G-III Apparel Group, Ltd. (NASDAQ:GIII) Expected to Post Quarterly Sales of $601.42 Million

Brokerages predict that G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Rating) will post $601.42 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for G-III Apparel Group’s earnings. The lowest sales estimate is $600.40 million and the highest is $601.96 million. G-III Apparel Group reported sales of $519.91 million in the same quarter last year, which indicates a positive year over year growth rate of 15.7%. The company is scheduled 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 $3.04 billion for the current financial year, with estimates ranging from $3.01 billion to $3.11 billion. For the next financial year, analysts forecast that the firm will report sales of $3.19 billion, with estimates ranging from $3.07 billion to $3.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side 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, beating analysts’ consensus estimates of $0.64 by $0.34. G-III Apparel Group had a return on equity of 13.97% and a net margin of 7.25%. The business had revenue of $748.20 million during the quarter, compared to analyst estimates of $740.17 million. During the same quarter in the previous year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 42.2% compared to the same quarter last year.

GIII has been the subject of several recent research reports. Telsey Advisory Group lowered their price objective on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, March 14th. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 10th. Finally, TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b-” rating in a report on Friday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and an average price target of $33.00.

Shares of GIII opened at $22.58 on Thursday. The firm has a market cap of $1.09 billion, a P/E ratio of 5.56 and a beta of 2.51. The stock has a 50 day simple moving average of $27.01 and a two-hundred day simple moving average of $27.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.24 and a quick ratio of 2.23. G-III Apparel Group has a 1 year low of $20.40 and a 1 year high of $35.80.

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 transaction of $435,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its holdings in G-III Apparel Group by 204.4% in 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 period. Barclays PLC grew its position in G-III Apparel Group by 48.8% during the third quarter. Barclays PLC now owns 46,828 shares of the textile maker’s stock valued at $1,325,000 after buying an additional 15,364 shares during the period. Alliancebernstein L.P. increased its holdings in G-III Apparel Group by 23.0% during the third quarter. Alliancebernstein L.P. now owns 87,004 shares of the textile maker’s stock valued at $2,462,000 after buying an additional 16,262 shares during the last quarter. Allianz Asset Management GmbH bought a new position in G-III Apparel Group in the third quarter worth approximately $1,214,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of G-III Apparel Group by 38.8% during the 3rd quarter. Goldman Sachs Group Inc. now owns 169,812 shares of the textile maker’s stock worth $4,805,000 after acquiring an additional 47,450 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

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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