G-III Apparel Group, Ltd. (GIII) Updates Q3 Earnings Guidance
G-III Apparel Group, Ltd. (NASDAQ:GIII) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $2.75-2.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.14, American Banking and Market News reports. The company issued revenue guidance of ~$805 million, compared to the consensus revenue estimate of $785.27 million.G-III Apparel Group also updated its FY15 guidance to $4.00-4.15 EPS.
Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) opened at 84.18 on Wednesday. G-III Apparel Group, Ltd. has a 52-week low of $49.25 and a 52-week high of $84.95. The stock’s 50-day moving average is $80.46 and its 200-day moving average is $76.15. The company has a market cap of $1.729 billion and a price-to-earnings ratio of 22.34.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.16 by $0.13. The company had revenue of $424.00 million for the quarter, compared to the consensus estimate of $391.00 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, analysts predict that G-III Apparel Group, Ltd. will post $4.11 earnings per share for the current fiscal year.
GIII has been the subject of a number of recent research reports. Analysts at Wunderlich initiated coverage on shares of G-III Apparel Group in a research note on Friday, August 15th. They set a buy rating and a $92.00 price target on the stock. On a related note, analysts at Cowen and Company raised their price target on shares of G-III Apparel Group from $86.00 to $90.00 in a research note on Thursday, July 17th. They now have an outperform rating on the stock. Finally, analysts at Barclays reiterated an overweight rating on shares of G-III Apparel Group in a research note on Friday, June 27th. They now have a $92.00 price target on the stock, up previously from $85.00. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $90.86.
G-III Apparel Group, Ltd. (NASDAQ:GIII) designs, manufactures and markets a range of apparel, including outerwear, dresses, sportswear, women’s suits and women’s performance wear, as well as luggage and women’s handbags, small leather goods and cold weather accessories.
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