G-III Apparel Group, Ltd. (GIII) Expected to Post Earnings of -$0.10 Per Share

Analysts expect G-III Apparel Group, Ltd. (NASDAQ:GIII) to report ($0.10) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for G-III Apparel Group’s earnings, with the highest EPS estimate coming in at $0.01 and the lowest estimate coming in at ($0.23). G-III Apparel Group posted earnings of ($0.15) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 33.3%. The company is scheduled to issue its next quarterly earnings results on Wednesday, September 5th.

On average, analysts expect that G-III Apparel Group will report full-year earnings of $2.15 per share for the current financial year, with EPS estimates ranging from $1.95 to $2.37. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.46 per share, with EPS estimates ranging from $2.09 to $2.70. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover G-III Apparel Group.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Tuesday, June 5th. The textile maker reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.27. The company had revenue of $611.70 million during the quarter, compared to the consensus estimate of $570.59 million. G-III Apparel Group had a return on equity of 9.15% and a net margin of 2.85%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share.

Several brokerages have recently weighed in on GIII. Stifel Nicolaus raised their target price on G-III Apparel Group from $33.00 to $45.00 and gave the company a “hold” rating in a research note on Wednesday. ValuEngine downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday, April 21st. Buckingham Research raised their target price on G-III Apparel Group from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. CL King began coverage on G-III Apparel Group in a research note on Friday, May 4th. They set a “buy” rating and a $42.00 target price for the company. Finally, BidaskClub upgraded G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 7th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $44.64.

Shares of G-III Apparel Group traded up $0.17, hitting $48.77, during trading hours on Friday, Marketbeat reports. 1,192,261 shares of the company’s stock traded hands, compared to its average volume of 653,757. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.76 and a quick ratio of 1.17. The company has a market capitalization of $2.34 billion, a PE ratio of 30.77, a P/E/G ratio of 1.37 and a beta of 0.25. G-III Apparel Group has a twelve month low of $21.65 and a twelve month high of $51.20.

In related news, Director Laura H. Pomerantz sold 1,191 shares of G-III Apparel Group stock in a transaction dated Friday, April 13th. The stock was sold at an average price of $38.91, for a total value of $46,341.81. Following the completion of the transaction, the director now directly owns 32,766 shares in the company, valued at $1,274,925.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Wayne S. Miller sold 28,000 shares of G-III Apparel Group stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $38.56, for a total value of $1,079,680.00. Following the completion of the transaction, the chief operating officer now owns 203,381 shares of the company’s stock, valued at $7,842,371.36. The disclosure for this sale can be found here. 9.80% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of GIII. Millennium Management LLC grew its stake in G-III Apparel Group by 2,669.2% in the fourth quarter. Millennium Management LLC now owns 502,825 shares of the textile maker’s stock worth $18,549,000 after purchasing an additional 484,667 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in G-III Apparel Group by 310.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 474,184 shares of the textile maker’s stock worth $17,493,000 after purchasing an additional 358,585 shares in the last quarter. Victory Capital Management Inc. grew its stake in G-III Apparel Group by 22.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,245,267 shares of the textile maker’s stock worth $45,938,000 after purchasing an additional 228,015 shares in the last quarter. Renaissance Technologies LLC acquired a new position in G-III Apparel Group in the fourth quarter worth about $8,400,000. Finally, Elk Creek Partners LLC acquired a new position in G-III Apparel Group in the first quarter worth about $6,736,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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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Earnings History and Estimates for G-III Apparel Group (NASDAQ:GIII)

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