G-III Apparel Group (NASDAQ:GIII) Releases Earnings Results, Misses Expectations By $0.05 EPS

G-III Apparel Group (NASDAQ:GIII – Get Rating) posted its earnings results on Thursday. The textile maker reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05), Briefing.com reports. The firm had revenue of $854.20 million for the quarter, compared to analysts’ expectations of $769.28 million. G-III Apparel Group had a return on equity of 10.70% and a net margin of 5.66%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $15.27 on Friday. G-III Apparel Group has a fifty-two week low of $11.60 and a fifty-two week high of $31.70. The company has a 50 day simple moving average of $15.94 and a two-hundred day simple moving average of $16.60. The company has a market capitalization of $725.16 million, a price-to-earnings ratio of 4.24, a P/E/G ratio of 0.31 and a beta of 2.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.68 and a current ratio of 3.09.

Hedge Funds Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Fortis Capital Advisors LLC bought a new position in shares of G-III Apparel Group during the fourth quarter valued at approximately $148,000. Virtu Financial LLC bought a new stake in shares of G-III Apparel Group during the fourth quarter valued at approximately $153,000. Advisor Partners II LLC increased its position in shares of G-III Apparel Group by 8.4% during the fourth quarter. Advisor Partners II LLC now owns 12,348 shares of the textile maker’s stock valued at $169,000 after acquiring an additional 956 shares in the last quarter. Captrust Financial Advisors increased its position in shares of G-III Apparel Group by 48.4% during the first quarter. Captrust Financial Advisors now owns 6,665 shares of the textile maker’s stock valued at $180,000 after acquiring an additional 2,175 shares in the last quarter. Finally, Delphia USA Inc. bought a new stake in shares of G-III Apparel Group during the fourth quarter valued at approximately $181,000. Institutional investors own 88.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. KeyCorp reissued an “overweight” rating and issued a $18.00 price target (up from $17.00) on shares of G-III Apparel Group in a research note on Monday, January 30th. StockNews.com assumed coverage on shares of G-III Apparel Group in a research note on Thursday. They issued a “sell” rating for the company. CL King downgraded shares of G-III Apparel Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $22.00 in a research note on Thursday, December 1st. Telsey Advisory Group reissued a “market perform” rating and issued a $14.00 price target on shares of G-III Apparel Group in a research note on Monday. Finally, Piper Sandler decreased their price target on shares of G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, December 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.38.

About G-III Apparel Group

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G-III Apparel Group Ltd. engages in the designing, sourcing, and marketing of women’s apparel. The firm’s product range includes outerwear, dresses, sportswear, swimwear, women’s suits and performance wear, as well as handbags, footwear, small leather goods, cold weather accessories, and luggage. It operates through the Wholesale and Retail segments.