B. Riley Equities Analysts Lift Earnings Estimates for G-III Apparel Group, Ltd. (GIII)

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G-III Apparel Group, Ltd. (NASDAQ:GIII) – Investment analysts at B. Riley lifted their FY2020 earnings estimates for shares of G-III Apparel Group in a report issued on Thursday, March 21st. B. Riley analyst S. Anderson now expects that the textile maker will post earnings per share of $3.31 for the year, up from their prior forecast of $3.13.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, March 21st. The textile maker reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.11. G-III Apparel Group had a return on equity of 12.94% and a net margin of 4.49%. The firm had revenue of $766.80 million for the quarter, compared to analysts’ expectations of $767.89 million. During the same period last year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis.

Several other equities research analysts have also recently issued reports on GIII. TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b-” rating in a report on Thursday. ValuEngine upgraded G-III Apparel Group from a “sell” rating to a “hold” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective (up from $50.00) on shares of G-III Apparel Group in a report on Friday. Zacks Investment Research cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 6th. Finally, Barclays lifted their price objective on G-III Apparel Group from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. G-III Apparel Group presently has a consensus rating of “Buy” and an average price target of $46.58.

GIII stock opened at $37.75 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 2.54. G-III Apparel Group has a 12-month low of $25.43 and a 12-month high of $51.20. The stock has a market capitalization of $1.86 billion, a P/E ratio of 13.20, a PEG ratio of 0.60 and a beta of 0.97.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in shares of G-III Apparel Group by 1.6% during the third quarter. Wells Fargo & Company MN now owns 111,432 shares of the textile maker’s stock worth $5,371,000 after purchasing an additional 1,782 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of G-III Apparel Group by 534.6% during the third quarter. JPMorgan Chase & Co. now owns 79,624 shares of the textile maker’s stock worth $3,837,000 after purchasing an additional 67,077 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of G-III Apparel Group by 89.0% during the third quarter. Alliancebernstein L.P. now owns 138,698 shares of the textile maker’s stock worth $6,684,000 after purchasing an additional 65,303 shares during the last quarter. AXA grew its holdings in shares of G-III Apparel Group by 53.1% during the third quarter. AXA now owns 173,813 shares of the textile maker’s stock worth $8,376,000 after purchasing an additional 60,300 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of G-III Apparel Group by 4.4% during the third quarter. Bank of New York Mellon Corp now owns 1,297,470 shares of the textile maker’s stock worth $62,524,000 after purchasing an additional 54,953 shares during the last quarter.

G-III Apparel Group Company Profile

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

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