G-III Apparel Group, Ltd. (NASDAQ:GIII) announced its quarterly earnings results on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.06. The company earned $603.30 million during the quarter, compared to analysts’ expectations of $622.76 million. G-III Apparel Group had a net margin of 3.46% and a return on equity of 9.13%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. G-III Apparel Group updated its Q1 guidance to ($0.35-0.45) EPS and its FY18 guidance to $0.99-1.09 EPS.
G-III Apparel Group (NASDAQ:GIII) opened at 22.92 on Monday. G-III Apparel Group has a 12-month low of $21.30 and a 12-month high of $51.81. The firm’s 50-day moving average is $25.05 and its 200 day moving average is $27.88. The stock has a market capitalization of $1.11 billion, a P/E ratio of 13.44 and a beta of 0.53.
A number of equities analysts have recently issued reports on the stock. Piper Jaffray Companies set a $22.00 price target on shares of G-III Apparel Group and gave the company a “hold” rating in a report on Sunday, December 4th. Stifel Nicolaus cut their price target on shares of G-III Apparel Group from $26.00 to $25.00 and set a “hold” rating for the company in a report on Friday, January 6th. Zacks Investment Research upgraded shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a report on Monday, March 13th. Brean Capital reiterated a “buy” rating and issued a $37.00 price target (down previously from $39.00) on shares of G-III Apparel Group in a report on Tuesday, January 10th. Finally, Telsey Advisory Group cut their price target on shares of G-III Apparel Group from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, January 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. G-III Apparel Group presently has a consensus rating of “Hold” and a consensus price target of $31.14.
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Institutional investors have recently made changes to their positions in the stock. Genesee Valley Trust Co. purchased a new position in shares of G-III Apparel Group during the third quarter valued at about $210,000. Profit Investment Management LLC increased its position in shares of G-III Apparel Group by 11.8% in the third quarter. Profit Investment Management LLC now owns 63,557 shares of the company’s stock valued at $1,853,000 after buying an additional 6,684 shares during the period. Nationwide Fund Advisors increased its position in shares of G-III Apparel Group by 5.9% in the third quarter. Nationwide Fund Advisors now owns 184,264 shares of the company’s stock valued at $5,371,000 after buying an additional 10,308 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of G-III Apparel Group by 139.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 455,500 shares of the company’s stock valued at $13,278,000 after buying an additional 265,000 shares during the period. Finally, New Jersey Better Educational Savings Trust purchased a new position in shares of G-III Apparel Group during the third quarter valued at about $496,000. 95.33% of the stock is owned by institutional investors.
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.
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