G-III Apparel Group, Ltd. (NASDAQ:GIII)’s share price shot up 11.1% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $40.53 and last traded at $39.07. 2,233,017 shares changed hands during trading, an increase of 330% from the average session volume of 519,773 shares. The stock had previously closed at $35.16.
The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. G-III Apparel Group had a return on equity of 11.60% and a net margin of 3.75%. The company had revenue of $766.80 million for the quarter, compared to the consensus estimate of $767.89 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis.
Several equities research analysts have weighed in on the company. BidaskClub cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 15th. TheStreet cut G-III Apparel Group from a “b-” rating to a “c+” rating in a research note on Thursday, December 27th. KeyCorp cut their target price on G-III Apparel Group from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, December 7th. Zacks Investment Research cut G-III Apparel Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Finally, Stifel Nicolaus upgraded G-III Apparel Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $28.50 to $40.00 in a research note on Sunday, December 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $45.83.
The company has a current ratio of 2.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.75 billion, a PE ratio of 24.42, a P/E/G ratio of 0.57 and a beta of 0.97.
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G-III Apparel Group Company Profile (NASDAQ:GIII)
G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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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