G-III Apparel Group (NASDAQ:GIII) Shares Gap Up on Better-Than-Expected Earnings

G-III Apparel Group, LTD. (NASDAQ:GIII)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $32.04, but opened at $35.84. G-III Apparel Group shares last traded at $34.43, with a volume of 153,274 shares changing hands.

The textile maker reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. The business had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a net margin of 2.28% and a return on equity of 6.70%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS.

G-III Apparel Group Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on GIII shares. BTIG Research reaffirmed a “buy” rating and issued a $34.00 target price on shares of G-III Apparel Group in a research report on Wednesday, March 18th. Telsey Advisory Group reissued 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 note on Monday, March 9th. Zacks Research upgraded G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, UBS Group lowered their target price on 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. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and a consensus target price of $29.00.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors have recently bought and sold shares of GIII. GAMMA Investing LLC increased its holdings in shares of G-III Apparel Group by 107.7% during the 4th quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 488 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in G-III Apparel Group by 105.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock worth $31,000 after purchasing an additional 591 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in G-III Apparel Group during the fourth quarter worth approximately $34,000. Federated Hermes Inc. bought a new stake in G-III Apparel Group during the third quarter worth approximately $40,000. Finally, Parallel Advisors LLC grew its holdings 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 valued at $52,000 after purchasing an additional 1,243 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Stock Up 7.3%

The stock’s 50-day moving average price is $30.13 and its 200 day moving average price is $29.77. The company has a market cap of $1.45 billion, a P/E ratio of 22.97 and a beta of 1.29.

G-III Apparel Group Company Profile

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.