KeyCorp Weighs in on G-III Apparel Group, Ltd.’s Q1 2019 Earnings (GIII)

G-III Apparel Group, Ltd. (NASDAQ:GIII) – Stock analysts at KeyCorp issued their Q1 2019 earnings estimates for shares of G-III Apparel Group in a research note issued to investors on Wednesday. KeyCorp analyst E. Yruma anticipates that the textile maker will post earnings of $0.03 per share for the quarter. KeyCorp has a “Buy” rating and a $45.00 price objective on the stock. KeyCorp also issued estimates for G-III Apparel Group’s Q2 2019 earnings at $0.02 EPS.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Tuesday, December 5th. The textile maker reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.13. G-III Apparel Group had a return on equity of 5.65% and a net margin of 1.58%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company posted $1.50 EPS. G-III Apparel Group’s revenue for the quarter was up 15.9% on a year-over-year basis.

A number of other equities analysts have also weighed in on the company. Piper Jaffray Companies reiterated a “buy” rating on shares of G-III Apparel Group in a research report on Thursday, February 1st. Barclays increased their price target on G-III Apparel Group from $29.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, January 25th. BidaskClub lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. B. Riley reiterated a “neutral” rating and issued a $36.00 price target on shares of G-III Apparel Group in a research report on Friday, December 22nd. Finally, Zacks Investment Research upgraded G-III Apparel Group from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $35.45.

G-III Apparel Group (NASDAQ GIII) traded down $1.00 during trading hours on Monday, hitting $35.76. The company had a trading volume of 226,000 shares, compared to its average volume of 571,651. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.52 and a quick ratio of 1.91. G-III Apparel Group has a fifty-two week low of $18.00 and a fifty-two week high of $40.96. The firm has a market cap of $1,804.22, a price-to-earnings ratio of 42.57, a price-to-earnings-growth ratio of 1.20 and a beta of 0.24.

In other news, Director Bokhorst Willem Van sold 7,518 shares of G-III Apparel Group stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $37.51, for a total transaction of $282,000.18. Following the completion of the sale, the director now directly owns 48,667 shares in the company, valued at approximately $1,825,499.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Sammy Aaron sold 51,000 shares of G-III Apparel Group stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $33.62, for a total value of $1,714,620.00. Following the sale, the insider now owns 556,152 shares of the company’s stock, valued at $18,697,830.24. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of G-III Apparel Group by 16.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,599 shares of the textile maker’s stock valued at $465,000 after buying an additional 1,736 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of G-III Apparel Group during the 4th quarter valued at about $776,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of G-III Apparel Group by 67.1% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 26,010 shares of the textile maker’s stock valued at $959,000 after buying an additional 10,440 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of G-III Apparel Group by 41.8% during the 4th quarter. Macquarie Group Ltd. now owns 178,756 shares of the textile maker’s stock valued at $6,594,000 after buying an additional 52,694 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of G-III Apparel Group by 2,669.2% during the 4th quarter. Millennium Management LLC now owns 502,825 shares of the textile maker’s stock valued at $18,549,000 after buying an additional 484,667 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

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About G-III Apparel Group

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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

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