$709.63 Million in Sales Expected for G-III Apparel Group, Ltd. (GIII) This Quarter

Equities research analysts predict that G-III Apparel Group, Ltd. (NASDAQ:GIII) will report sales of $709.63 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for G-III Apparel Group’s earnings. The highest sales estimate is $720.00 million and the lowest is $702.70 million. G-III Apparel Group reported sales of $603.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.6%. The firm is scheduled to announce its next earnings report on Monday, March 26th.

According to Zacks, analysts expect that G-III Apparel Group will report full-year sales of $709.63 million for the current year, with estimates ranging from $2.39 billion to $2.93 billion. For the next year, analysts anticipate that the business will report sales of $3.04 billion per share, with estimates ranging from $2.81 billion to $3.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow G-III Apparel Group.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Tuesday, December 5th. The textile maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.13. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. G-III Apparel Group had a net margin of 1.58% and a return on equity of 5.65%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.50 EPS.

A number of analysts have recently issued reports on GIII shares. Zacks Investment Research downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Piper Jaffray Companies set a $33.00 price target on shares of G-III Apparel Group and gave the stock a “buy” rating in a report on Thursday, October 19th. Cowen set a $30.00 price target on shares of G-III Apparel Group and gave the stock a “hold” rating in a report on Thursday, October 12th. KeyCorp restated a “buy” rating and set a $45.00 price target on shares of G-III Apparel Group in a report on Thursday, January 11th. Finally, BidaskClub downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $35.45.

In related news, Director Bokhorst Willem Van sold 7,518 shares of the 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 completion of the transaction, the director now owns 48,667 shares of the company’s stock, valued at approximately $1,825,499.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Sammy Aaron sold 51,000 shares of the 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 transaction, the insider now directly owns 556,152 shares of the company’s stock, valued at approximately $18,697,830.24. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Flinton Capital Management LLC boosted its position in shares of G-III Apparel Group by 87.0% during the 2nd quarter. Flinton Capital Management LLC now owns 4,032 shares of the textile maker’s stock worth $101,000 after purchasing an additional 1,876 shares during the period. Zions Bancorporation purchased a new position in shares of G-III Apparel Group during the 3rd quarter worth approximately $151,000. Invictus RG purchased a new position in G-III Apparel Group in the 3rd quarter valued at approximately $185,000. CIBC Asset Management Inc purchased a new position in G-III Apparel Group in the 4th quarter valued at approximately $210,000. Finally, Turner Investments LLC purchased a new position in G-III Apparel Group in the 3rd quarter valued at approximately $218,000.

Shares of G-III Apparel Group (GIII) opened at $35.98 on Monday. The stock has a market cap of $1,765.93, a P/E ratio of 30.49, a PEG ratio of 1.19 and a beta of 0.24. The company has a current ratio of 3.52, a quick ratio of 1.91 and a debt-to-equity ratio of 0.66. G-III Apparel Group has a 1-year low of $18.00 and a 1-year high of $40.96.

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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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Earnings History and Estimates for G-III Apparel Group (NASDAQ:GIII)

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