G-III Apparel Group (GIII) Posts Quarterly Earnings Results

G-III Apparel Group (NASDAQ:GIII) posted its quarterly earnings results on Tuesday. The textile maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.54 by $0.13, Bloomberg Earnings reports. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. G-III Apparel Group had a net margin of 1.23% and a return on equity of 4.65%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $1.50 earnings per share. G-III Apparel Group updated its FY18 guidance to $1.42-1.52 EPS.

Shares of G-III Apparel Group (NASDAQ:GIII) opened at $34.30 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.75 and a quick ratio of 1.09. The stock has a market cap of $1,469.57, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 1.48 and a beta of 0.29. G-III Apparel Group has a one year low of $18.00 and a one year high of $35.03.

GIII has been the subject of several research reports. BidaskClub upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. FBR & Co restated a “buy” rating and set a $33.00 price target on shares of G-III Apparel Group in a report on Tuesday, September 5th. Buckingham Research raised their price target on shares of G-III Apparel Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. KeyCorp restated a “buy” rating and set a $41.00 price target on shares of G-III Apparel Group in a report on Thursday, August 24th. Finally, Zacks Investment Research upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Saturday, September 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $34.18.

In other G-III Apparel Group news, Director Alan Feller sold 2,000 shares of G-III Apparel Group stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $29.22, for a total value of $58,440.00. Following the completion of the sale, the director now directly owns 20,609 shares in the company, valued at $602,194.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Wayne S. Miller sold 50,000 shares of G-III Apparel Group stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $29.56, for a total transaction of $1,478,000.00. Following the completion of the transaction, the chief operating officer now directly owns 269,531 shares in the company, valued at approximately $7,967,336.36. The disclosure for this sale can be found here. Insiders sold 57,000 shares of company stock valued at $1,682,990 over the last quarter. Corporate insiders own 9.70% of the company’s stock.

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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.

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

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