G-III Apparel Group (GIII) Updates FY19 Earnings Guidance

G-III Apparel Group (NASDAQ:GIII) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.98-2.08 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.13. The company issued revenue guidance of ~$2.94 billion, compared to the consensus revenue estimate of $3.08 billion.

Shares of GIII stock opened at $34.84 on Friday. The firm has a market cap of $1,620.16, a P/E ratio of 27.87, a PEG ratio of 1.08 and a beta of 0.26. The company has a quick ratio of 1.91, a current ratio of 3.52 and a debt-to-equity ratio of 0.66. G-III Apparel Group has a 1-year low of $18.00 and a 1-year high of $40.96.

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G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, March 22nd. The textile maker reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. The firm had revenue of $714.90 million during the quarter, compared to analyst estimates of $707.64 million. G-III Apparel Group had a net margin of 2.21% and a return on equity of 7.57%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) EPS. research analysts predict that G-III Apparel Group will post 2.03 earnings per share for the current year.

A number of equities research analysts have recently weighed in on GIII shares. Zacks Investment Research upgraded shares of G-III Apparel Group from a hold rating to a strong-buy rating and set a $40.00 price objective for the company in a report on Thursday, December 7th. KeyCorp restated a buy rating and issued a $45.00 price objective on shares of G-III Apparel Group in a report on Thursday, January 11th. Piper Jaffray Companies set a $33.00 price objective on shares of G-III Apparel Group and gave the stock a buy rating in a report on Thursday, November 30th. Cowen set a $32.00 price objective on shares of G-III Apparel Group and gave the stock a hold rating in a report on Thursday, November 30th. Finally, BidaskClub lowered shares of G-III Apparel Group from a buy rating to a hold rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $36.82.

In related news, Director Bokhorst Willem Van sold 7,518 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $37.51, for a total transaction of $282,000.18. Following the completion of the sale, the director now directly owns 48,667 shares in the company, valued at approximately $1,825,499.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.60% of the company’s stock.

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About G-III Apparel Group

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

Earnings History and Estimates for G-III Apparel Group (NASDAQ:GIII)

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