Oxford Industries (NYSE:OXM) Shares Gap Down Following Weak Earnings

Shares of Oxford Industries, Inc. (NYSE:OXM) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $83.66, but opened at $75.65. Oxford Industries shares last traded at $80.10, with a volume of 347,525 shares changing hands.

The textile maker reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.23). Oxford Industries had a net margin of 1.92% and a return on equity of 22.19%. The business had revenue of $419.89 million during the quarter, compared to analysts’ expectations of $438.16 million. During the same period last year, the company earned $3.45 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis.

Oxford Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, October 18th. Oxford Industries’s payout ratio is currently 108.50%.

Analysts Set New Price Targets

Several brokerages have weighed in on OXM. Telsey Advisory Group cut their price target on Oxford Industries from $110.00 to $86.00 and set a “market perform” rating for the company in a report on Thursday. Citigroup dropped their target price on shares of Oxford Industries from $92.00 to $65.00 and set a “sell” rating for the company in a research report on Friday. Finally, UBS Group decreased their price target on Oxford Industries from $101.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.40.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OXM. Vanguard Group Inc. lifted its position in shares of Oxford Industries by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,767,543 shares of the textile maker’s stock worth $198,672,000 after purchasing an additional 4,869 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Oxford Industries by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 735,045 shares of the textile maker’s stock valued at $73,507,000 after acquiring an additional 5,767 shares in the last quarter. Pacer Advisors Inc. bought a new position in Oxford Industries during the second quarter worth $54,882,000. Victory Capital Management Inc. boosted its holdings in Oxford Industries by 21.7% in the second quarter. Victory Capital Management Inc. now owns 496,092 shares of the textile maker’s stock worth $49,684,000 after purchasing an additional 88,345 shares during the period. Finally, Wellington Management Group LLP increased its stake in Oxford Industries by 7.9% during the fourth quarter. Wellington Management Group LLP now owns 403,340 shares of the textile maker’s stock valued at $40,334,000 after purchasing an additional 29,493 shares during the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Oxford Industries Stock Up 1.3 %

The stock’s fifty day simple moving average is $92.74 and its two-hundred day simple moving average is $100.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.32 and a quick ratio of 0.68. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 34.47 and a beta of 1.53.

Oxford Industries Company Profile

Oxford Industries, Inc, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men's and women's sportswear and related products under the Tommy Bahama brand; and women's and girl's dresses and sportswear, scarves, bags, jewelry, and belts, as well as children's apparel, swim, footwear, and licensed products under the Lilly Pulitzer brand.