Equities research analysts predict that G-III Apparel Group, Ltd. (NASDAQ:GIII) will report sales of $590.48 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for G-III Apparel Group’s earnings, with the lowest sales estimate coming in at $589.00 million and the highest estimate coming in at $591.50 million. G-III Apparel Group reported sales of $538.01 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.8%. The company is expected to issue its next quarterly earnings results on Wednesday, September 5th.
According to Zacks, analysts expect that G-III Apparel Group will report full year sales of $2.98 billion for the current year, with estimates ranging from $2.97 billion to $2.98 billion. For the next financial year, analysts forecast that the firm will report sales of $3.15 billion per share, with estimates ranging from $3.09 billion to $3.19 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover G-III Apparel Group.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Tuesday, June 5th. The textile maker reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.27. G-III Apparel Group had a return on equity of 9.15% and a net margin of 2.85%. The firm had revenue of $611.70 million for the quarter, compared to analysts’ expectations of $570.59 million. During the same period in the prior year, the firm posted ($0.21) earnings per share. The firm’s quarterly revenue was up 15.6% on a year-over-year basis.
A number of research analysts recently commented on GIII shares. KeyCorp upped their price objective on G-III Apparel Group from $45.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, June 6th. BidaskClub cut G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a report on Friday, April 20th. Zacks Investment Research cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 8th. Telsey Advisory Group upped their price target on G-III Apparel Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, June 1st. Finally, Needham & Company LLC initiated coverage on G-III Apparel Group in a research note on Thursday, June 21st. They set a “buy” rating and a $53.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $47.17.
In other G-III Apparel Group news, CEO Morris Goldfarb sold 770,000 shares of the company’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $47.32, for a total transaction of $36,436,400.00. Following the transaction, the chief executive officer now directly owns 3,812,427 shares in the company, valued at $180,404,045.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey David Goldfarb sold 20,000 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $49.08, for a total value of $981,600.00. Following the transaction, the executive vice president now owns 406,043 shares in the company, valued at $19,928,590.44. The disclosure for this sale can be found here. Insiders have sold 987,381 shares of company stock worth $46,475,433 over the last 90 days. 9.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Nvwm LLC purchased a new stake in shares of G-III Apparel Group during the first quarter worth $121,000. Elkfork Partners LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth $156,000. SG Americas Securities LLC purchased a new stake in shares of G-III Apparel Group during the first quarter worth $172,000. Amalgamated Bank purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth $230,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of G-III Apparel Group during the first quarter worth $246,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.
G-III Apparel Group traded up $0.89, reaching $46.57, during trading hours on Thursday, according to Marketbeat.com. The company’s stock had a trading volume of 397,600 shares, compared to its average volume of 672,844. G-III Apparel Group has a fifty-two week low of $21.65 and a fifty-two week high of $51.20. The stock has a market capitalization of $2.27 billion, a PE ratio of 29.11, a P/E/G ratio of 1.31 and a beta of 0.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.33 and a current ratio of 2.35.
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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