Zacks: Brokerages Anticipate G-III Apparel Group, Ltd. (GIII) Will Announce Earnings of $1.82 Per Share

Analysts expect G-III Apparel Group, Ltd. (NASDAQ:GIII) to report $1.82 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for G-III Apparel Group’s earnings. G-III Apparel Group posted earnings per share of $1.67 in the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, December 4th.

According to Zacks, analysts expect that G-III Apparel Group will report full-year earnings of $2.61 per share for the current fiscal year, with EPS estimates ranging from $2.55 to $2.63. For the next financial year, analysts anticipate that the company will report earnings of $2.99 per share, with EPS estimates ranging from $2.94 to $3.02. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover G-III Apparel Group.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 6th. The textile maker reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.19. The company had revenue of $624.70 million for the quarter, compared to analyst estimates of $590.16 million. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) earnings per share.

A number of equities analysts have weighed in on GIII shares. BidaskClub raised G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 11th. Buckingham Research boosted their price objective on G-III Apparel Group from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. ValuEngine downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Piper Jaffray Companies set a $51.00 target price on G-III Apparel Group and gave the company a “buy” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research downgraded G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $50.64.

NASDAQ GIII traded down $0.34 on Monday, reaching $41.76. 646,636 shares of the company were exchanged, compared to its average volume of 605,242. The firm has a market capitalization of $2.05 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 1.06 and a beta of 0.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 2.12. G-III Apparel Group has a fifty-two week low of $25.54 and a fifty-two week high of $51.20.

In other G-III Apparel Group news, COO Wayne S. Miller sold 19,448 shares of G-III Apparel Group stock in a transaction on Monday, October 8th. The stock was sold at an average price of $40.09, for a total value of $779,670.32. Following the sale, the chief operating officer now owns 248,621 shares in the company, valued at $9,967,215.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.80% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. UBS Group AG raised its holdings in shares of G-III Apparel Group by 688.1% in the 1st quarter. UBS Group AG now owns 28,545 shares of the textile maker’s stock valued at $1,076,000 after buying an additional 24,923 shares during the period. Legal & General Group Plc raised its holdings in shares of G-III Apparel Group by 5.6% in the 1st quarter. Legal & General Group Plc now owns 88,169 shares of the textile maker’s stock valued at $3,290,000 after buying an additional 4,713 shares during the period. Xact Kapitalforvaltning AB purchased a new stake in shares of G-III Apparel Group in the 1st quarter valued at $246,000. Principal Financial Group Inc. raised its holdings in shares of G-III Apparel Group by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 333,867 shares of the textile maker’s stock valued at $12,580,000 after buying an additional 11,171 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of G-III Apparel Group by 592.3% in the 1st quarter. Allianz Asset Management GmbH now owns 166,000 shares of the textile maker’s stock valued at $6,255,000 after buying an additional 142,023 shares during the period.

G-III Apparel Group Company Profile

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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