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

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

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $15.03 on Friday. The company has a current ratio of 3.09, a quick ratio of 1.68 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $15.97 and its 200 day moving average price is $16.59. G-III Apparel Group has a 52 week low of $11.60 and a 52 week high of $31.70. The stock has a market cap of $713.76 million, a price-to-earnings ratio of 4.18, a PEG ratio of 0.31 and a beta of 2.65.

Analysts Set New Price Targets

Several brokerages recently weighed in on GIII. Telsey Advisory Group reaffirmed a “market perform” rating and set a $14.00 price target on shares of G-III Apparel Group in a report on Monday, March 13th. Barclays increased their price target on G-III Apparel Group from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday. Piper Sandler decreased their price target on G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, December 21st. StockNews.com began coverage on G-III Apparel Group in a report on Thursday. They set a “sell” rating for the company. Finally, UBS Group decreased their price target on G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, December 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.38.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIII. BlackRock Inc. grew its position in shares of G-III Apparel Group by 3.0% in the first quarter. BlackRock Inc. now owns 7,583,681 shares of the textile maker’s stock valued at $205,139,000 after purchasing an additional 218,715 shares during the last quarter. Vanguard Group Inc. lifted its stake in G-III Apparel Group by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 4,874,631 shares of the textile maker’s stock valued at $131,858,000 after buying an additional 332,865 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in G-III Apparel Group by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,299,935 shares of the textile maker’s stock valued at $89,266,000 after buying an additional 37,415 shares in the last quarter. Madison Avenue Partners LP purchased a new stake in G-III Apparel Group in the 4th quarter valued at approximately $25,716,000. Finally, State Street Corp lifted its stake in G-III Apparel Group by 1.7% in the 2nd quarter. State Street Corp now owns 1,674,108 shares of the textile maker’s stock valued at $33,867,000 after buying an additional 28,751 shares in the last quarter. Institutional investors and hedge funds 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.