$650.37 Million in Sales Expected for G-III Apparel Group, Ltd. (GIII) This Quarter

Brokerages forecast that G-III Apparel Group, Ltd. (NASDAQ:GIII) will post $650.37 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for G-III Apparel Group’s earnings, with the lowest sales estimate coming in at $650.00 million and the highest estimate coming in at $651.40 million. G-III Apparel Group posted sales of $611.74 million in the same quarter last year, which suggests a positive year over year growth rate of 6.3%. The business is scheduled to issue its next earnings report on Tuesday, June 4th.

On average, analysts expect that G-III Apparel Group will report full-year sales of $3.28 billion for the current year, with estimates ranging from $3.27 billion to $3.29 billion. For the next year, analysts forecast that the business will report sales of $3.48 billion, with estimates ranging from $3.44 billion to $3.52 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover G-III Apparel Group.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, March 21st. The textile maker reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.11. The business had revenue of $766.80 million for the quarter, compared to the consensus estimate of $767.89 million. G-III Apparel Group had a net margin of 4.49% and a return on equity of 12.74%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS.

A number of research firms recently weighed in on GIII. ValuEngine lowered shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a report on Monday, May 13th. BidaskClub lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Piper Jaffray Companies lowered shares of G-III Apparel Group from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $43.00 to $35.00 in a report on Tuesday, May 14th. TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b-” rating in a report on Thursday, March 21st. Finally, Zacks Investment Research lowered shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. G-III Apparel Group has a consensus rating of “Hold” and a consensus price target of $46.55.

GIII traded down $1.11 during trading hours on Friday, reaching $30.73. 641,600 shares of the stock traded hands, compared to its average volume of 511,827. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 0.65 and a beta of 1.00. G-III Apparel Group has a fifty-two week low of $25.43 and a fifty-two week high of $51.20. The company has a current ratio of 2.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.33.

In other G-III Apparel Group news, Director Laura H. Pomerantz sold 821 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $40.43, for a total transaction of $33,193.03. Following the completion of the transaction, the director now directly owns 39,682 shares of the company’s stock, valued at approximately $1,604,343.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura H. Pomerantz sold 2,105 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $41.52, for a total transaction of $87,399.60. Following the transaction, the director now directly owns 36,756 shares of the company’s stock, valued at $1,526,109.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,692 shares of company stock valued at $3,086,681. 8.60% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Financial Architects Inc acquired a new position in G-III Apparel Group during the 4th quarter worth $28,000. Bruderman Asset Management LLC acquired a new position in G-III Apparel Group during the 4th quarter worth $33,000. Meeder Asset Management Inc. grew its holdings in G-III Apparel Group by 1,396.0% during the 4th quarter. Meeder Asset Management Inc. now owns 1,511 shares of the textile maker’s stock worth $41,000 after acquiring an additional 1,410 shares in the last quarter. Acadian Asset Management LLC grew its holdings in G-III Apparel Group by 1,780.0% during the 4th quarter. Acadian Asset Management LLC now owns 1,974 shares of the textile maker’s stock worth $55,000 after acquiring an additional 1,869 shares in the last quarter. Finally, Huntington National Bank grew its holdings in G-III Apparel Group by 170.8% during the 4th quarter. Huntington National Bank now owns 2,445 shares of the textile maker’s stock worth $68,000 after acquiring an additional 1,542 shares in the last quarter.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, 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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Earnings History and Estimates for G-III Apparel Group (NASDAQ:GIII)

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