G-III Apparel Group (NASDAQ:GIII) Announces Earnings Results, Beats Estimates By $0.33 EPS

G-III Apparel Group (NASDAQ:GIII - Get Free Report) announced its earnings results on Tuesday. The textile maker reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.33, Zacks reports. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter last year, the business posted $2.78 earnings per share. The company's quarterly revenue was up 1.9% on a year-over-year basis. G-III Apparel Group updated its FY 2025 guidance to 4.100-4.200 EPS and its FY25 guidance to $4.10-$4.20 EPS.

G-III Apparel Group Stock Up 10.4 %

NASDAQ:GIII traded up $3.29 on Tuesday, hitting $34.87. 1,026,853 shares of the company's stock traded hands, compared to its average volume of 560,893. The firm has a 50-day moving average price of $30.64 and a 200-day moving average price of $28.64. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.53 billion, a PE ratio of 8.60 and a beta of 2.14. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $35.68.

Insider Buying and Selling

In other news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at $118,869,051.30. The trade was a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Telsey Advisory Group reissued a "market perform" rating and set a $32.00 target price on shares of G-III Apparel Group in a research note on Tuesday. Guggenheim assumed coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They set a "buy" rating and a $36.00 price objective for the company. Barclays lifted their target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an "underweight" rating in a report on Friday, September 6th. StockNews.com raised G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Monday, December 2nd. Finally, KeyCorp lifted their price target on G-III Apparel Group from $32.00 to $34.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $30.50.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through 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.