G-III Apparel Group (NASDAQ:GIII) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

G-III Apparel Group (NASDAQ:GIII – Get Rating) issued its earnings results on Thursday. The textile maker reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05), Briefing.com reports. The business had revenue of $854.20 million for the quarter, compared to the consensus estimate of $769.28 million. G-III Apparel Group had a net margin of 5.66% and a return on equity of 10.70%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $15.03 on Friday. The stock has a market capitalization of $713.76 million, a PE ratio of 4.18, a P/E/G ratio of 0.31 and a beta of 2.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.68. The business has a 50 day simple moving average of $15.97 and a two-hundred day simple moving average of $16.59. G-III Apparel Group has a 1-year low of $11.60 and a 1-year high of $31.70.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler decreased their target price on G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 21st. StockNews.com assumed coverage on G-III Apparel Group in a research note on Thursday. They set a “sell” rating on the stock. CL King downgraded G-III Apparel Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $28.00 to $22.00 in a research note on Thursday, December 1st. TheStreet downgraded G-III Apparel Group from a “c” rating to a “d+” rating in a research note on Thursday. Finally, UBS Group decreased their target price on G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, December 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, G-III Apparel Group presently has a consensus rating of “Hold” and a consensus target price of $19.38.

Hedge Funds Weigh In On G-III Apparel Group

A number of institutional investors and hedge funds have recently modified their holdings of GIII. Great West Life Assurance Co. Can boosted its holdings in G-III Apparel Group by 1.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 39,973 shares of the textile maker’s stock valued at $1,112,000 after acquiring an additional 428 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in G-III Apparel Group by 2.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,832 shares of the textile maker’s stock valued at $368,000 after acquiring an additional 753 shares during the period. Advisor Partners II LLC boosted its holdings in G-III Apparel Group by 8.4% during the 4th quarter. Advisor Partners II LLC now owns 12,348 shares of the textile maker’s stock valued at $169,000 after acquiring an additional 956 shares during the period. Rhumbline Advisers boosted its holdings in G-III Apparel Group by 1.0% during the 1st quarter. Rhumbline Advisers now owns 128,545 shares of the textile maker’s stock valued at $3,477,000 after acquiring an additional 1,263 shares during the period. Finally, Putnam Investments LLC boosted its holdings in G-III Apparel Group by 9.3% during the 3rd quarter. Putnam Investments LLC now owns 17,841 shares of the textile maker’s stock valued at $266,000 after acquiring an additional 1,522 shares during the period. Hedge funds and other institutional investors own 88.79% of the company’s stock.

About G-III Apparel Group

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G-III Apparel Group Ltd. engages in the designing, sourcing, and marketing of women’s apparel. The firm’s product range includes outerwear, dresses, sportswear, swimwear, women’s suits and performance wear, as well as handbags, footwear, small leather goods, cold weather accessories, and luggage. It operates through the Wholesale and Retail segments.