G-III Apparel Group (NASDAQ:GIII) Shares Gap Up on Strong Earnings

G-III Apparel Group, LTD. (NASDAQ:GIII)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $29.67, but opened at $33.83. G-III Apparel Group shares last traded at $31.2350, with a volume of 218,398 shares traded.

The textile maker reported $1.90 EPS for the quarter, beating the consensus estimate of $1.60 by $0.30. G-III Apparel Group had a return on equity of 9.51% and a net margin of 4.89%.The business had revenue of $988.65 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $2.59 EPS. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. G-III Apparel Group has set its FY 2026 guidance at 2.800-2.900 EPS.

G-III Apparel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.3%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Telsey Advisory Group set a $34.00 price objective on shares of G-III Apparel Group in a research note on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of G-III Apparel Group in a report on Tuesday, October 14th. UBS Group set a $32.00 price target on G-III Apparel Group and gave the stock a “neutral” rating in a research note on Wednesday. KeyCorp reissued an “overweight” rating and set a $35.00 price objective (up previously from $33.00) on shares of G-III Apparel Group in a report on Wednesday. Finally, BTIG Research raised their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.20.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Byrne Asset Management LLC acquired a new position in shares of G-III Apparel Group during the second quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its stake in shares of G-III Apparel Group by 105.2% in the third quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock worth $31,000 after acquiring an additional 591 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in G-III Apparel Group by 5,154.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker’s stock worth $32,000 after acquiring an additional 1,134 shares during the period. Federated Hermes Inc. bought a new stake in G-III Apparel Group in the 3rd quarter valued at $40,000. Finally, Raymond James Financial Inc. bought a new stake in G-III Apparel Group in the 2nd quarter valued at $41,000. 92.13% of the stock is owned by institutional investors.

G-III Apparel Group Stock Performance

The firm’s 50-day simple moving average is $28.01 and its 200-day simple moving average is $26.07. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.46 and a beta of 1.30.

About G-III Apparel Group

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.