G-III Apparel Group (NASDAQ:GIII) Issues Quarterly Earnings Results, Beats Estimates By $0.17 EPS

G-III Apparel Group (NASDAQ:GIIIGet Free Report) announced its earnings results on Thursday. The textile maker reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.17, reports. G-III Apparel Group had a net margin of 5.76% and a return on equity of 12.84%. The company had revenue of $609.75 million during the quarter, compared to analyst estimates of $615.10 million.

G-III Apparel Group Price Performance

GIII stock opened at $26.85 on Friday. The firm has a 50 day moving average price of $28.33 and a 200-day moving average price of $30.02. G-III Apparel Group has a 52-week low of $18.47 and a 52-week high of $35.68. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 7.03 and a beta of 2.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.31 and a current ratio of 3.36.

Hedge Funds Weigh In On G-III Apparel Group

Several large investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new stake in shares of G-III Apparel Group during the first quarter valued at approximately $35,000. Quest Partners LLC bought a new stake in shares of G-III Apparel Group during the fourth quarter valued at approximately $56,000. DekaBank Deutsche Girozentrale bought a new stake in shares of G-III Apparel Group during the third quarter valued at approximately $97,000. Allspring Global Investments Holdings LLC bought a new stake in shares of G-III Apparel Group during the first quarter valued at approximately $171,000. Finally, Counterpoint Mutual Funds LLC grew its position in G-III Apparel Group by 12.0% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 5,998 shares of the textile maker’s stock worth $204,000 after purchasing an additional 644 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GIII shares. UBS Group cut their target price on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Friday. Barclays restated an “underweight” rating and set a $23.00 price target (down from $30.00) on shares of G-III Apparel Group in a research report on Monday, March 4th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research note on Monday, June 3rd. Finally, TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, G-III Apparel Group has a consensus rating of “Hold” and a consensus target price of $27.60.

Read Our Latest Report on G-III Apparel Group

G-III Apparel Group Company Profile

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G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.

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

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