Jerash Holdings (US) (NASDAQ:JRSH) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Jerash Holdings (US) (NASDAQ:JRSH) posted its earnings results on Tuesday. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03, FiscalAI reports. The company had revenue of $50.23 million for the quarter, compared to analysts’ expectations of $47.90 million. Jerash Holdings (US) had a net margin of 2.77% and a return on equity of 7.68%.

Jerash Holdings (US) Trading Down 2.6%

Jerash Holdings (US) stock traded down $0.14 during midday trading on Wednesday, reaching $5.19. 25,413 shares of the stock traded hands, compared to its average volume of 370,678. The company has a 50-day simple moving average of $4.44 and a two-hundred day simple moving average of $3.63. Jerash Holdings has a 12-month low of $2.85 and a 12-month high of $5.60. The firm has a market cap of $65.91 million, a PE ratio of 13.66 and a beta of 1.03. The company has a current ratio of 2.70, a quick ratio of 1.31 and a debt-to-equity ratio of 0.04.

Jerash Holdings (US) Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.20 annualized dividend and a yield of 3.9%. Jerash Holdings (US)’s dividend payout ratio is presently 52.63%.

Institutional Trading of Jerash Holdings (US)

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in shares of Jerash Holdings (US) by 18.3% in the fourth quarter. Renaissance Technologies LLC now owns 180,424 shares of the company’s stock valued at $550,000 after purchasing an additional 27,954 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Jerash Holdings (US) by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 97,495 shares of the company’s stock worth $297,000 after buying an additional 6,597 shares during the period. Geode Capital Management LLC lifted its holdings in Jerash Holdings (US) by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 63,541 shares of the company’s stock worth $194,000 after buying an additional 4,528 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in Jerash Holdings (US) by 70.6% during the 3rd quarter. Susquehanna International Group LLP now owns 269,014 shares of the company’s stock worth $893,000 after buying an additional 111,359 shares in the last quarter. Finally, State Street Corp boosted its position in Jerash Holdings (US) by 27.6% in the 4th quarter. State Street Corp now owns 21,705 shares of the company’s stock valued at $66,000 after buying an additional 4,700 shares during the period. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on JRSH. Wall Street Zen raised shares of Jerash Holdings (US) from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 28th. Weiss Ratings raised shares of Jerash Holdings (US) from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Finally, DA Davidson increased their price objective on shares of Jerash Holdings (US) from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $6.00.

Jerash Holdings (US) Company Profile

Jerash Holdings (NASDAQ:JRSH) is a global designer, manufacturer and marketer of intimate apparel, sportswear and swimwear. Founded in 1994 in the Jerash special economic zone of Jordan, the company has built a vertically integrated production model that spans product design, raw material sourcing, fabric printing, sewing and finishing. By controlling each stage of the manufacturing process, Jerash maintains strict quality standards and achieves competitive lead times for its apparel collections.

Operating state-of-the-art facilities in Jordan with a workforce of more than 10,000 employees, Jerash produces both proprietary brands and private-label merchandise for major retailers.