G-III Apparel Group, Ltd. (NASDAQ:GIII) Expected to Post Quarterly Sales of $461.66 Million

Equities analysts expect G-III Apparel Group, Ltd. (NASDAQ:GIII) to report $461.66 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for G-III Apparel Group’s earnings, with the highest sales estimate coming in at $510.69 million and the lowest estimate coming in at $380.60 million. G-III Apparel Group posted sales of $633.55 million in the same quarter last year, which suggests a negative year-over-year growth rate of 27.1%. The business is scheduled to report its next quarterly earnings results on Wednesday, June 3rd.

According to Zacks, analysts expect that G-III Apparel Group will report full-year sales of $2.64 billion for the current year, with estimates ranging from $2.50 billion to $2.88 billion. For the next year, analysts forecast that the business will post sales of $2.89 billion, with estimates ranging from $2.64 billion to $3.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow G-III Apparel Group.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, March 19th. The textile maker reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. The firm had revenue of $754.60 million during the quarter, compared to the consensus estimate of $799.07 million. G-III Apparel Group had a return on equity of 12.74% and a net margin of 4.55%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share.

Several equities research analysts have recently weighed in on GIII shares. Needham & Company LLC decreased their price objective on G-III Apparel Group from $32.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 20th. Wells Fargo & Co decreased their price objective on G-III Apparel Group from $42.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Cowen downgraded G-III Apparel Group from an “outperform” rating to a “market perform” rating and set a $8.00 price objective for the company. in a report on Tuesday, March 24th. BidaskClub downgraded G-III Apparel Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus decreased their price objective on G-III Apparel Group from $22.00 to $8.00 and set a “hold” rating for the company in a report on Friday, March 20th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.91.

In other G-III Apparel Group news, Director Thomas Brosig acquired 8,000 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was purchased at an average price of $6.06 per share, for a total transaction of $48,480.00. Following the completion of the transaction, the director now owns 23,626 shares of the company’s stock, valued at approximately $143,173.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Morris Goldfarb acquired 20,200 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was acquired at an average price of $6.54 per share, with a total value of $132,108.00. Following the transaction, the chief executive officer now directly owns 3,236,845 shares of the company’s stock, valued at approximately $21,168,966.30. The disclosure for this purchase can be found here. Insiders have bought 58,949 shares of company stock valued at $409,053 in the last 90 days. Company insiders own 8.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its position in G-III Apparel Group by 23.0% in the first quarter. State of Alaska Department of Revenue now owns 39,985 shares of the textile maker’s stock worth $307,000 after acquiring an additional 7,488 shares in the last quarter. Macquarie Group Ltd. raised its position in G-III Apparel Group by 4.6% in the fourth quarter. Macquarie Group Ltd. now owns 63,319 shares of the textile maker’s stock worth $2,121,000 after acquiring an additional 2,780 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of G-III Apparel Group by 33.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,585,952 shares of the textile maker’s stock valued at $53,130,000 after buying an additional 397,210 shares in the last quarter. Norges Bank purchased a new position in shares of G-III Apparel Group in the fourth quarter valued at $13,947,000. Finally, Geode Capital Management LLC increased its position in shares of G-III Apparel Group by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 585,998 shares of the textile maker’s stock valued at $19,630,000 after buying an additional 9,337 shares in the last quarter. Hedge funds and other institutional investors own 99.74% of the company’s stock.

Shares of GIII stock traded up $1.73 during trading hours on Tuesday, hitting $9.16. The stock had a trading volume of 3,476,800 shares, compared to its average volume of 1,029,560. The firm has a market capitalization of $272.69 million, a PE ratio of 3.09, a PEG ratio of 0.50 and a beta of 2.32. G-III Apparel Group has a twelve month low of $2.96 and a twelve month high of $43.98. The stock’s 50 day moving average is $15.00 and its 200 day moving average is $25.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.23 and a quick ratio of 1.33.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, 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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