$768.24 Million in Sales Expected for G-III Apparel Group, Ltd. (GIII) This Quarter

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Brokerages predict that G-III Apparel Group, Ltd. (NASDAQ:GIII) will report $768.24 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for G-III Apparel Group’s earnings, with estimates ranging from $763.00 million to $770.70 million. G-III Apparel Group posted sales of $714.90 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The business is expected to announce its next earnings results on Thursday, March 28th.

On average, analysts expect that G-III Apparel Group will report full year sales of $3.08 billion for the current year, with estimates ranging from $3.07 billion to $3.08 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.29 billion, with estimates ranging from $3.18 billion to $3.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow G-III Apparel Group.

Several equities analysts have commented on the stock. KeyCorp reissued a “buy” rating on shares of G-III Apparel Group in a research note on Sunday, December 9th. BidaskClub cut shares of G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 8th. Zacks Investment Research cut shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Bank of America started coverage on shares of G-III Apparel Group in a research note on Friday, March 1st. They set a “buy” rating and a $45.00 target price on the stock. Finally, Barclays restated a “hold” rating and set a $43.00 price objective on shares of G-III Apparel Group in a research report on Friday, December 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $45.83.

Large investors have recently bought and sold shares of the company. Financial Architects Inc bought a new position in shares of G-III Apparel Group during the 4th quarter valued at about $28,000. Bruderman Asset Management LLC acquired a new position in shares of G-III Apparel Group in the fourth quarter worth about $33,000. Meeder Asset Management Inc. boosted its holdings in shares of G-III Apparel Group by 1,396.0% in the fourth quarter. Meeder Asset Management Inc. now owns 1,511 shares of the textile maker’s stock worth $41,000 after buying an additional 1,410 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of G-III Apparel Group by 1,780.0% in the fourth quarter. Acadian Asset Management LLC now owns 1,974 shares of the textile maker’s stock worth $55,000 after buying an additional 1,869 shares during the period. Finally, Huntington National Bank boosted its holdings in shares of G-III Apparel Group by 170.8% in the fourth quarter. Huntington National Bank now owns 2,445 shares of the textile maker’s stock worth $68,000 after buying an additional 1,542 shares during the period.

G-III Apparel Group stock traded down $0.22 during trading hours on Friday, hitting $35.70. 228,947 shares of the company traded hands, compared to its average volume of 465,759. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 0.58 and a beta of 0.97. The company has a current ratio of 2.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. G-III Apparel Group has a 1-year low of $25.43 and a 1-year high of $51.20.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, manufactures, 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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