Brokers Set Expectations for G-III Apparel Group, Ltd.’s Q1 2024 Earnings (NASDAQ:GIII)

G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Rating) – Analysts at Telsey Advisory Group decreased their Q1 2024 earnings per share (EPS) estimates for shares of G-III Apparel Group in a research report issued on Monday, March 13th. Telsey Advisory Group analyst D. Telsey now forecasts that the textile maker will earn $0.64 per share for the quarter, down from their prior estimate of $0.67. Telsey Advisory Group has a “Market Perform” rating and a $14.00 price objective on the stock. The consensus estimate for G-III Apparel Group’s current full-year earnings is $2.93 per share. Telsey Advisory Group also issued estimates for G-III Apparel Group’s Q2 2024 earnings at $0.39 EPS.

A number of other research analysts have also weighed in on GIII. CL King lowered G-III Apparel Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $28.00 to $22.00 in a research note on Thursday, December 1st. UBS Group dropped their price target on shares of G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, December 8th. Wells Fargo & Company decreased their price target on shares of G-III Apparel Group from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, December 1st. Barclays reduced their target price on G-III Apparel Group from $18.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 6th. Finally, KeyCorp restated an “overweight” rating and set a $18.00 price target (up from $17.00) on shares of G-III Apparel Group in a research note on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, G-III Apparel Group has a consensus rating of “Hold” and an average target price of $19.13.

G-III Apparel Group Stock Performance

Shares of GIII opened at $15.47 on Wednesday. G-III Apparel Group has a 1 year low of $11.60 and a 1 year high of $31.70. The company’s 50 day simple moving average is $15.92 and its 200 day simple moving average is $16.61. The company has a market capitalization of $734.67 million, a price-to-earnings ratio of 4.26, a PEG ratio of 0.31 and a beta of 2.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.68 and a current ratio of 3.09.

Institutional Investors Weigh In On G-III Apparel Group

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC boosted its position in G-III Apparel Group by 704.6% in the 3rd quarter. CWM LLC now owns 2,092 shares of the textile maker’s stock valued at $31,000 after buying an additional 1,832 shares during the last quarter. Signaturefd LLC increased its holdings in G-III Apparel Group by 456.3% during the 4th quarter. Signaturefd LLC now owns 2,281 shares of the textile maker’s stock worth $31,000 after purchasing an additional 1,871 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of G-III Apparel Group in the 2nd quarter valued at approximately $69,000. Captrust Financial Advisors boosted its stake in shares of G-III Apparel Group by 48.4% during the 1st quarter. Captrust Financial Advisors now owns 6,665 shares of the textile maker’s stock valued at $180,000 after buying an additional 2,175 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in shares of G-III Apparel Group by 15.0% during the second quarter. Mutual of America Capital Management LLC now owns 7,243 shares of the textile maker’s stock worth $147,000 after buying an additional 945 shares in the last quarter. 88.79% of the stock is owned by institutional investors and hedge funds.

G-III Apparel Group Company Profile

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G-III Apparel Group Ltd. engages in the designing, sourcing, and marketing of women’s apparel. The firm’s product range includes outerwear, dresses, sportswear, swimwear, women’s suits and performance wear, as well as handbags, footwear, small leather goods, cold weather accessories, and luggage. It operates through the Wholesale and Retail segments.