Oxford Industries (NYSE:OXM) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Oxford Industries (NYSE:OXM) released its earnings results on Wednesday. The textile maker reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.12, FiscalAI reports. The firm had revenue of $391.40 million during the quarter, compared to analyst estimates of $391.76 million. Oxford Industries had a negative net margin of 1.89% and a positive return on equity of 5.68%.

Oxford Industries Trading Up 1.6%

OXM stock traded up $0.68 during trading on Wednesday, hitting $43.84. The company had a trading volume of 632,037 shares, compared to its average volume of 332,953. The firm has a market capitalization of $652.79 million, a P/E ratio of -22.60 and a beta of 1.03. Oxford Industries has a 52-week low of $30.57 and a 52-week high of $55.76. The company has a 50 day simple moving average of $42.72 and a 200-day simple moving average of $39.27. The company has a quick ratio of 0.48, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Oxford Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 17th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a $2.80 annualized dividend and a yield of 6.4%. This is a boost from Oxford Industries’s previous quarterly dividend of $0.69. Oxford Industries’s payout ratio is -144.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Oxford Industries in the 3rd quarter worth approximately $38,000. BNP Paribas Financial Markets grew its position in shares of Oxford Industries by 44.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,507 shares of the textile maker’s stock worth $61,000 after buying an additional 466 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Oxford Industries by 127.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,812 shares of the textile maker’s stock worth $73,000 after buying an additional 1,014 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Oxford Industries by 700.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,000 shares of the textile maker’s stock worth $161,000 after buying an additional 3,500 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Oxford Industries in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Oxford Industries from $33.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Citigroup raised their target price on shares of Oxford Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 30th. Truist Financial set a $43.00 price target on shares of Oxford Industries in a research note on Thursday, June 4th. Wall Street Zen raised shares of Oxford Industries from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Finally, Zacks Research raised shares of Oxford Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $42.50.

Oxford Industries Company Profile

Oxford Industries, Inc, incorporated in 1942 and headquartered in Atlanta, Georgia, is a leading designer, marketer and distributor of high-quality men’s and women’s lifestyle apparel and accessories. The company’s product portfolio features a mix of owned brands and licensed partnerships that span casual, resort and performance categories. Key owned brands include Tommy Bahama, renowned for its island-inspired menswear and women’s sportswear, and Southern Tide, which offers coastal-focused clothing and footwear.