Zacks: Brokerages Expect G-III Apparel Group (GIII) Will Announce Quarterly Sales of $570.14 Million

Wall Street analysts expect G-III Apparel Group (NASDAQ:GIII) to announce sales of $570.14 million for the current quarter, Zacks reports. Four analysts have provided estimates for G-III Apparel Group’s earnings. The highest sales estimate is $570.80 million and the lowest is $569.70 million. G-III Apparel Group posted sales of $529.04 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.8%. The firm is expected to report its next earnings report on Tuesday, June 5th.

On average, analysts expect that G-III Apparel Group will report full-year sales of $2.94 billion for the current fiscal year, with estimates ranging from $2.93 billion to $2.94 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.09 billion per share, with estimates ranging from $3.02 billion to $3.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow G-III Apparel Group.

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G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, March 22nd. The textile maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.10. G-III Apparel Group had a net margin of 2.21% and a return on equity of 7.44%. The business had revenue of $714.90 million for the quarter, compared to analyst estimates of $707.64 million. During the same period in the previous year, the business earned ($0.16) EPS. The firm’s revenue was up 18.5% on a year-over-year basis.

Several brokerages have recently weighed in on GIII. BidaskClub upgraded shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 7th. ValuEngine upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Thursday, March 29th. Buckingham Research decreased their target price on shares of G-III Apparel Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, March 23rd. B. Riley set a $38.00 target price on shares of G-III Apparel Group and gave the company a “hold” rating in a research report on Friday, March 23rd. Finally, Telsey Advisory Group decreased their target price on shares of G-III Apparel Group from $53.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. G-III Apparel Group has a consensus rating of “Buy” and an average target price of $36.82.

In other G-III Apparel Group news, Director Laura H. Pomerantz sold 1,191 shares of the business’s stock in a transaction dated Friday, April 13th. The shares were sold at an average price of $38.91, for a total value of $46,341.81. Following 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 document filed with the SEC, which is available through this link. Also, COO Wayne S. Miller sold 28,000 shares of the business’s stock in a transaction dated Monday, April 9th. The shares were sold at an average price of $38.56, for a total transaction of $1,079,680.00. Following the completion of the transaction, the chief operating officer now owns 203,381 shares in the company, valued at $7,842,371.36. The disclosure for this sale can be found here. 9.70% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in GIII. Elkfork Partners LLC acquired a new position in shares of G-III Apparel Group during the fourth quarter worth approximately $156,000. CIBC Asset Management Inc acquired a new position in shares of G-III Apparel Group during the fourth quarter worth approximately $210,000. Amalgamated Bank acquired a new position in shares of G-III Apparel Group during the fourth quarter worth approximately $230,000. Jane Street Group LLC acquired a new position in shares of G-III Apparel Group during the third quarter worth approximately $236,000. Finally, Parametrica Management Ltd acquired a new position in shares of G-III Apparel Group during the fourth quarter worth approximately $326,000. Hedge funds and other institutional investors own 98.19% of the company’s stock.

Shares of G-III Apparel Group stock traded down $0.57 during trading on Friday, hitting $37.71. 401,910 shares of the company’s stock traded hands, compared to its average volume of 607,811. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 2.76. G-III Apparel Group has a twelve month low of $18.00 and a twelve month high of $40.96. The firm has a market cap of $1,877.86, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 1.25 and a beta of 0.21.

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G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, manufactures, and markets men's and women's apparel. It operates in two segments, Wholesale Operations and Retail Operations. The company's 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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