Oxford Industries (NYSE:OXM) Updates FY 2022 Earnings Guidance

Oxford Industries (NYSE:OXMGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $10.25-$10.60 for the period, compared to the consensus earnings per share estimate of $10.02. The company issued revenue guidance of $1.38 billion-$1.41 billion, compared to the consensus revenue estimate of $1.31 billion. Oxford Industries also updated its Q3 2022 guidance to $1.10-$1.30 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Oxford Industries from $130.00 to $135.00 and gave the company an overweight rating in a research report on Tuesday. Citigroup raised shares of Oxford Industries from a sell rating to a neutral rating and raised their target price for the company from $92.00 to $105.00 in a research note on Wednesday. KeyCorp raised their target price on shares of Oxford Industries from $110.00 to $120.00 and gave the company an overweight rating in a research note on Friday, September 2nd. Finally, StockNews.com downgraded shares of Oxford Industries from a buy rating to a hold rating in a research note on Friday, September 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Oxford Industries currently has an average rating of Moderate Buy and a consensus target price of $121.50.

Oxford Industries Stock Performance

OXM stock opened at $92.19 on Thursday. The company has a market capitalization of $1.47 billion, a PE ratio of 9.24 and a beta of 1.45. Oxford Industries has a one year low of $76.21 and a one year high of $119.50. The company’s 50 day moving average price is $99.04 and its two-hundred day moving average price is $92.45.

Oxford Industries (NYSE:OXMGet Rating) last posted its quarterly earnings results on Thursday, September 1st. The textile maker reported $3.61 EPS for the quarter, topping the consensus estimate of $3.48 by $0.13. The firm had revenue of $363.43 million for the quarter, compared to the consensus estimate of $363.92 million. Oxford Industries had a net margin of 13.09% and a return on equity of 32.27%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $3.24 earnings per share. On average, research analysts predict that Oxford Industries will post 10.51 EPS for the current year.

Oxford Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, October 13th. Oxford Industries’s dividend payout ratio is 22.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OXM. PNC Financial Services Group Inc. grew its holdings in shares of Oxford Industries by 52.5% in the first quarter. PNC Financial Services Group Inc. now owns 4,283 shares of the textile maker’s stock worth $388,000 after purchasing an additional 1,475 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Oxford Industries by 5.8% in the first quarter. Bank of Montreal Can now owns 5,204 shares of the textile maker’s stock worth $488,000 after purchasing an additional 286 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Oxford Industries by 62.5% in the first quarter. MetLife Investment Management LLC now owns 8,637 shares of the textile maker’s stock worth $782,000 after purchasing an additional 3,323 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Oxford Industries by 2.9% in the first quarter. Rhumbline Advisers now owns 46,460 shares of the textile maker’s stock worth $4,205,000 after purchasing an additional 1,311 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Oxford Industries by 14.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,688 shares of the textile maker’s stock worth $1,239,000 after purchasing an additional 1,685 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

About Oxford Industries

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Oxford Industries, Inc, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men's and women's sportswear and related products under the Tommy Bahama brand; women's and girl's dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children's apparel and swimwear under the Lilly Pulitzer brand; and men's shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.

Further Reading

Earnings History and Estimates for Oxford Industries (NYSE:OXM)

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