G-III Apparel Group (NASDAQ:GIII) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

G-III Apparel Group (NASDAQ:GIII) released its quarterly earnings results on Friday. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.09, FiscalAI reports. G-III Apparel Group had a return on equity of 6.70% and a net margin of 2.28%.The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. G-III Apparel Group updated its FY 2027 guidance to 2.150-2.250 EPS and its Q2 2027 guidance to 0.150-0.250 EPS.

G-III Apparel Group Price Performance

GIII opened at $32.04 on Friday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 21.36 and a beta of 1.29. The business has a 50-day moving average of $30.13 and a two-hundred day moving average of $29.77. G-III Apparel Group has a 12 month low of $20.33 and a 12 month high of $34.83.

G-III Apparel Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Monday, June 22nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.40 annualized dividend and a yield of 1.2%. G-III Apparel Group’s payout ratio is presently 26.67%.

Analyst Upgrades and Downgrades

GIII has been the subject of several research reports. BTIG Research reaffirmed a “buy” rating and set a $34.00 price target on shares of G-III Apparel Group in a research note on Wednesday, March 18th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price target (down from $34.00) on shares of G-III Apparel Group in a research note on Monday, March 9th. Zacks Research raised G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, UBS Group cut their price target on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and an average price target of $29.00.

Institutional Trading of G-III Apparel Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in G-III Apparel Group by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,936,957 shares of the textile maker’s stock valued at $78,153,000 after buying an additional 15,500 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in G-III Apparel Group by 30.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker’s stock valued at $28,054,000 after buying an additional 247,245 shares during the period. AQR Capital Management LLC grew its holdings in G-III Apparel Group by 19.5% in the 4th quarter. AQR Capital Management LLC now owns 772,319 shares of the textile maker’s stock valued at $22,366,000 after buying an additional 125,942 shares during the period. Bragg Financial Advisors Inc grew its holdings in G-III Apparel Group by 0.5% in the 4th quarter. Bragg Financial Advisors Inc now owns 732,462 shares of the textile maker’s stock valued at $21,212,000 after buying an additional 3,851 shares during the period. Finally, Barclays PLC increased its position in G-III Apparel Group by 54.0% during the 4th quarter. Barclays PLC now owns 717,607 shares of the textile maker’s stock worth $20,782,000 after purchasing an additional 251,502 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

About G-III Apparel Group

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.