Oxford Industries (NYSE:OXM) Issues Q1 2024 Earnings Guidance

Oxford Industries (NYSE:OXM) issued an update on its first quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.600-2.800 for the period, compared to the consensus earnings per share estimate of 3.580. The company issued revenue guidance of $395.0 million-$415.0 million, compared to the consensus revenue estimate of $419.2 million. Oxford Industries also updated its FY 2024 guidance to 9.300-9.700 EPS.

Oxford Industries Stock Down 0.1 %

Shares of Oxford Industries stock traded down $0.07 during trading hours on Thursday, reaching $112.40. 298,588 shares of the company’s stock were exchanged, compared to its average volume of 174,246. The stock has a market cap of $1.76 billion, a P/E ratio of 11.78 and a beta of 1.59. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $101.06 and a two-hundred day moving average of $96.53. Oxford Industries has a fifty-two week low of $82.33 and a fifty-two week high of $113.88.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OXM shares. UBS Group lifted their price objective on Oxford Industries from $105.00 to $106.00 and gave the stock a neutral rating in a research note on Tuesday, March 19th. Telsey Advisory Group reissued a market perform rating and set a $102.00 price objective on shares of Oxford Industries in a report on Monday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $103.20.

Hedge Funds Weigh In On Oxford Industries

Institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV lifted its stake in shares of Oxford Industries by 2.9% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 3,702 shares of the textile maker’s stock valued at $391,000 after buying an additional 105 shares in the last quarter. Comerica Bank raised its stake in Oxford Industries by 0.5% in the fourth quarter. Comerica Bank now owns 22,843 shares of the textile maker’s stock valued at $2,284,000 after purchasing an additional 115 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Oxford Industries by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,108 shares of the textile maker’s stock worth $601,000 after acquiring an additional 149 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Oxford Industries by 8.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,221 shares of the textile maker’s stock valued at $197,000 after purchasing an additional 166 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in shares of Oxford Industries by 5.5% in the 1st quarter. First Republic Investment Management Inc. now owns 3,205 shares of the textile maker’s stock worth $338,000 after acquiring an additional 166 shares during the last quarter. Institutional investors own 91.16% 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; 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; and men, women, and kids products under the Southern Tide brand.