G-III Apparel Group (GIII) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

G-III Apparel Group (NASDAQ:GIII) issued its quarterly earnings data on Tuesday. The textile maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.13, Bloomberg Earnings reports. G-III Apparel Group had a net margin of 1.58% and a return on equity of 5.77%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. G-III Apparel Group updated its FY18 guidance to $1.42-1.52 EPS.

Shares of G-III Apparel Group (GIII) opened at $35.07 on Thursday. The company has a market cap of $1,672.41, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 1.56 and a beta of 0.29. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.75 and a quick ratio of 1.09. G-III Apparel Group has a 12 month low of $18.00 and a 12 month high of $35.95.

In other G-III Apparel Group news, Director Alan Feller sold 5,000 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $29.31, for a total value of $146,550.00. Following the completion of the sale, the director now owns 20,609 shares in the company, valued at $604,049.79. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Wayne S. Miller sold 50,000 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $29.56, for a total transaction of $1,478,000.00. Following the completion of the sale, the chief operating officer now owns 269,531 shares of the company’s stock, valued at approximately $7,967,336.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,000 shares of company stock valued at $1,682,990. Corporate insiders own 9.60% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Piper Jaffray Companies set a $36.00 price objective on shares of G-III Apparel Group and gave the stock a “buy” rating in a research report on Wednesday. Telsey Advisory Group increased their target price on shares of G-III Apparel Group from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday. Cowen set a $32.00 target price on shares of G-III Apparel Group and gave the stock a “hold” rating in a report on Thursday, November 30th. Buckingham Research restated a “buy” rating and set a $35.00 target price (up previously from $30.00) on shares of G-III Apparel Group in a report on Thursday, September 7th. Finally, Stifel Nicolaus increased their target price on shares of G-III Apparel Group from $20.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. G-III Apparel Group has an average rating of “Buy” and a consensus target price of $34.18.

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About G-III Apparel Group

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

Earnings History for G-III Apparel Group (NASDAQ:GIII)

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