G-III Apparel Group (NASDAQ:GIII) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

G-III Apparel Group (NASDAQ:GIII) issued its earnings results on Friday. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09, FiscalAI reports. The business had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. G-III Apparel Group had a return on equity of 6.70% and a net margin of 2.28%.The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. G-III Apparel Group updated its FY 2027 guidance to 2.150-2.250 EPS and its Q2 2027 guidance to 0.150-0.250 EPS.

G-III Apparel Group Trading Down 0.8%

Shares of NASDAQ GIII opened at $32.04 on Friday. The company’s 50-day moving average price is $30.13 and its 200 day moving average price is $29.77. G-III Apparel Group has a 52 week low of $20.33 and a 52 week high of $34.83. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 21.36 and a beta of 1.29.

G-III Apparel Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Monday, June 22nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, June 22nd. G-III Apparel Group’s dividend payout ratio is presently 26.67%.

Institutional Trading of G-III Apparel Group

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its position in G-III Apparel Group by 231.9% during the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after buying an additional 1,243 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of G-III Apparel Group during the second quarter valued at $41,000. Strs Ohio acquired a new stake in shares of G-III Apparel Group during the first quarter valued at $77,000. State of Wyoming increased its position in G-III Apparel Group by 102.6% during the 4th quarter. State of Wyoming now owns 4,817 shares of the textile maker’s stock worth $140,000 after purchasing an additional 2,439 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in G-III Apparel Group in the 2nd quarter valued at about $109,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GIII. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price objective (down from $34.00) on shares of G-III Apparel Group in a research report on Monday, March 9th. UBS Group lowered their price target on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. BTIG Research reiterated a “buy” rating and issued a $34.00 price target on shares of G-III Apparel Group in a report on Wednesday, March 18th. Finally, Zacks Research raised shares of G-III Apparel Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.00.

About G-III Apparel Group

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.