Superior Group of Companies (NASDAQ:SGC) Updates FY 2024 Earnings Guidance

Superior Group of Companies (NASDAQ:SGC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.730-0.790 for the period, compared to the consensus earnings per share estimate of 0.740. The company issued revenue guidance of $563.0 million-$570.0 million, compared to the consensus revenue estimate of $564.2 million.

Superior Group of Companies Stock Performance

Shares of SGC stock traded down $0.35 during trading hours on Friday, reaching $17.44. 62,470 shares of the company traded hands, compared to its average volume of 93,337. The firm has a 50-day moving average price of $15.12 and a 200 day moving average price of $17.06. The company has a market cap of $292.47 million, a P/E ratio of 21.01, a P/E/G ratio of 2.22 and a beta of 1.42. Superior Group of Companies has a 12-month low of $9.86 and a 12-month high of $21.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.82 and a quick ratio of 1.82.

Superior Group of Companies (NASDAQ:SGC) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The firm had revenue of $131.74 million during the quarter, compared to the consensus estimate of $136.60 million. Superior Group of Companies had a return on equity of 6.74% and a net margin of 2.37%. During the same quarter in the previous year, the company earned $0.08 earnings per share. As a group, sell-side analysts predict that Superior Group of Companies will post 0.74 earnings per share for the current fiscal year.

Superior Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.21%. The ex-dividend date is Wednesday, November 13th. Superior Group of Companies’s dividend payout ratio is currently 67.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com cut Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. DA Davidson reissued a “buy” rating and issued a $24.00 price target on shares of Superior Group of Companies in a report on Tuesday, October 8th. Finally, Barrington Research dropped their price target on Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, August 21st.

Insiders Place Their Bets

In other news, insider Jake Himelstein acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $26,000.00. Following the completion of the transaction, the insider now directly owns 40,825 shares in the company, valued at approximately $530,725. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Superior Group of Companies news, Director Loreen M. Spencer purchased 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $13.20 per share, with a total value of $46,200.00. Following the completion of the purchase, the director now directly owns 7,266 shares in the company, valued at $95,911.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jake Himelstein acquired 2,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $13.00 per share, with a total value of $26,000.00. Following the transaction, the insider now directly owns 40,825 shares of the company’s stock, valued at $530,725. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,500 shares of company stock worth $206,700 in the last 90 days. 27.10% of the stock is currently owned by corporate insiders.

About Superior Group of Companies

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Branded Products, Healthcare Apparel, and Contact Centers. The Branded Products segment produces and sells customized merchandising solutions, promotional products, and branded uniform to chain retailer, food service, entertainment, technology, transportation, and other industries under BAMKO and HPI brands.