G-III Apparel Group (GIII) Issues Earnings Results, Beats Estimates By $0.13 EPS
G-III Apparel Group (NASDAQ:GIII) announced its quarterly earnings results on Tuesday. The textile maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.13, Bloomberg Earnings reports. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. G-III Apparel Group had a return on equity of 4.65% and a net margin of 1.23%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.50 earnings per share. G-III Apparel Group updated its FY18 guidance to $1.42-1.52 EPS.
Shares of G-III Apparel Group (NASDAQ GIII) opened at $34.30 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.56. G-III Apparel Group has a 52 week low of $18.00 and a 52 week high of $35.03. The firm has a market capitalization of $1,469.57, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 1.48 and a beta of 0.29.
A number of brokerages recently issued reports on GIII. Piper Jaffray Companies set a $33.00 price target on G-III Apparel Group and gave the company a “buy” rating in a report on Thursday, November 30th. Cowen set a $23.00 price target on G-III Apparel Group and gave the company a “hold” rating in a report on Monday, August 14th. BidaskClub raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. ValuEngine raised G-III Apparel Group from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Barclays began coverage on G-III Apparel Group in a report on Tuesday, September 19th. They issued an “underweight” rating and a $28.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $34.18.
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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.
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