KeyCorp Comments on G-III Apparel Group, Ltd.’s FY2018 Earnings (GIII)
G-III Apparel Group, Ltd. (NASDAQ:GIII) – Stock analysts at KeyCorp boosted their FY2018 earnings per share estimates for shares of G-III Apparel Group in a research note issued to investors on Wednesday. KeyCorp analyst E. Yruma now expects that the textile maker will post earnings per share of $1.55 for the year, up from their prior forecast of $1.52. KeyCorp currently has a “Buy” rating and a $45.00 target price on the stock. KeyCorp also issued estimates for G-III Apparel Group’s Q4 2018 earnings at $0.20 EPS, Q3 2019 earnings at $1.80 EPS, Q4 2019 earnings at $0.20 EPS and FY2019 earnings at $2.02 EPS.
G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 5th. The textile maker reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.13. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. G-III Apparel Group had a net margin of 1.58% and a return on equity of 5.65%. G-III Apparel Group’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $1.50 EPS.
G-III Apparel Group (GIII) traded up $1.54 on Friday, reaching $40.16. 701,200 shares of the company’s stock were exchanged, compared to its average volume of 811,175. G-III Apparel Group has a 12 month low of $18.00 and a 12 month high of $40.27. The company has a quick ratio of 1.91, a current ratio of 3.52 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1,910.00, a price-to-earnings ratio of 47.81, a PEG ratio of 1.74 and a beta of 0.28.
Several hedge funds and other institutional investors have recently modified their holdings of GIII. Schwab Charles Investment Management Inc. grew its stake in shares of G-III Apparel Group by 35.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 360,430 shares of the textile maker’s stock worth $8,993,000 after purchasing an additional 94,248 shares during the period. Rhumbline Advisers grew its stake in shares of G-III Apparel Group by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 88,067 shares of the textile maker’s stock worth $2,197,000 after purchasing an additional 3,977 shares during the period. SG Americas Securities LLC acquired a new stake in shares of G-III Apparel Group during the 2nd quarter worth approximately $193,000. Legal & General Group Plc grew its stake in shares of G-III Apparel Group by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 81,951 shares of the textile maker’s stock worth $2,045,000 after purchasing an additional 6,598 shares during the period. Finally, Swiss National Bank grew its stake in G-III Apparel Group by 7.8% in the 2nd quarter. Swiss National Bank now owns 72,900 shares of the textile maker’s stock valued at $1,819,000 after acquiring an additional 5,300 shares during the period.
In other news, Director Bokhorst Willem Van sold 7,518 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 48,667 shares of the company’s stock, valued at approximately $1,825,499.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Sammy Aaron sold 51,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $33.62, for a total transaction of $1,714,620.00. Following the sale, the insider now directly owns 556,152 shares in the company, valued at approximately $18,697,830.24. The disclosure for this sale can be found here. 9.70% of the stock is owned by company insiders.
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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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