G-III Apparel Group (GIII) Posts Earnings Results

G-III Apparel Group (NASDAQ:GIII) released its quarterly earnings results on Wednesday. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03, Briefing.com reports. The business had revenue of $633.60 million during the quarter, compared to the consensus estimate of $650.03 million. G-III Apparel Group had a return on equity of 12.74% and a net margin of 4.49%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS.

Shares of NASDAQ:GIII opened at $24.51 on Thursday. The company has a market cap of $1.32 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.67 and a beta of 1.37. The company has a quick ratio of 1.17, a current ratio of 2.16 and a debt-to-equity ratio of 0.33. G-III Apparel Group has a 12-month low of $23.99 and a 12-month high of $50.83.

A number of equities research analysts have issued reports on the company. ValuEngine downgraded G-III Apparel Group from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. BidaskClub downgraded G-III Apparel Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Zacks Investment Research downgraded G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Telsey Advisory Group cut their price target on G-III Apparel Group from $47.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b-” rating in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $45.36.

In related news, Director Laura H. Pomerantz sold 2,105 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $41.52, for a total transaction of $87,399.60. Following the completion of the transaction, the director now directly owns 36,756 shares in the company, valued at approximately $1,526,109.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Sammy Aaron sold 71,766 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $41.33, for a total value of $2,966,088.78. Following the transaction, the insider now owns 434,969 shares of the company’s stock, valued at $17,977,268.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,692 shares of company stock valued at $3,086,681. 8.60% of the stock is currently owned by corporate insiders.

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About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, 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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Earnings History for G-III Apparel Group (NASDAQ:GIII)

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