Oxford Industries (NYSE:OXM) Releases Q1 2024 Earnings Guidance

Oxford Industries (NYSE:OXM) issued an update on its first quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.600-2.800 for the period, compared to the consensus estimate of 3.580. The company issued revenue guidance of $395.0 million-$415.0 million, compared to the consensus revenue estimate of $419.2 million. Oxford Industries also updated its FY 2024 guidance to 9.300-9.700 EPS.

Oxford Industries Trading Down 0.1 %

NYSE OXM opened at $112.40 on Friday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 30.46 and a beta of 1.59. Oxford Industries has a one year low of $82.33 and a one year high of $113.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.37 and a quick ratio of 0.63. The business’s fifty day moving average is $101.70 and its 200-day moving average is $96.79.

Oxford Industries (NYSE:OXM) last announced its quarterly earnings data on Thursday, March 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.02). Oxford Industries had a net margin of 3.86% and a return on equity of 26.08%. The firm had revenue of $404.43 million during the quarter, compared to the consensus estimate of $408.28 million. During the same quarter in the prior year, the firm posted $2.28 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that Oxford Industries will post 10.28 EPS for the current year.

Oxford Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $2.68 annualized dividend and a yield of 2.38%. This is a positive change from Oxford Industries’s previous quarterly dividend of $0.65. Oxford Industries’s dividend payout ratio is currently 70.46%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OXM. Telsey Advisory Group reaffirmed a market perform rating and issued a $102.00 target price on shares of Oxford Industries in a research note on Monday, March 25th. UBS Group boosted their price objective on Oxford Industries from $105.00 to $106.00 and gave the company a neutral rating in a research report on Tuesday, March 19th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Oxford Industries presently has a consensus rating of Hold and an average price target of $103.20.

Hedge Funds Weigh In On Oxford Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in OXM. Steward Partners Investment Advisory LLC bought a new position in shares of Oxford Industries during the fourth quarter valued at approximately $25,000. Coppell Advisory Solutions Corp. bought a new position in shares of Oxford Industries during the fourth quarter valued at approximately $35,000. Quarry LP raised its holdings in shares of Oxford Industries by 602.0% during the second quarter. Quarry LP now owns 358 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 307 shares in the last quarter. UBS Group AG raised its holdings in shares of Oxford Industries by 51.4% during the third quarter. UBS Group AG now owns 501 shares of the textile maker’s stock valued at $45,000 after acquiring an additional 170 shares in the last quarter. Finally, State of Wyoming raised its holdings in shares of Oxford Industries by 154.2% during the fourth quarter. State of Wyoming now owns 943 shares of the textile maker’s stock valued at $88,000 after acquiring an additional 572 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

About Oxford Industries

Oxford Industries, Inc, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men's and women's sportswear and related products under the Tommy Bahama brand; women's and girl's dresses and sportswear, scarves, bags, jewelry, and belts, as well as children's apparel, swim, footwear, and licensed products under the Lilly Pulitzer brand; and men, women, and kids products under the Southern Tide brand.