G-III Apparel Group (NASDAQ:GIII) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.030-0.130 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.070. The company issued revenue guidance of $460 million-460 million, compared to the consensus revenue estimate of $485.80 million.G-III Apparel Group also updated its FY 2022 guidance to $2.600-2.700 EPS.
NASDAQ GIII traded down $0.90 during mid-day trading on Thursday, reaching $33.24. 430,479 shares of the stock were exchanged, compared to its average volume of 508,949. G-III Apparel Group has a one year low of $9.30 and a one year high of $35.80. The company has a 50 day moving average of $32.23. The stock has a market cap of $1.61 billion, a PE ratio of 72.57, a P/E/G ratio of 1.15 and a beta of 2.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.31 and a current ratio of 3.34.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Sunday, June 6th. The textile maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.38. The business had revenue of $519.90 million during the quarter, compared to analysts’ expectations of $462.60 million. G-III Apparel Group had a net margin of 4.11% and a return on equity of 7.64%. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period last year, the company posted ($0.75) earnings per share. Sell-side analysts expect that G-III Apparel Group will post 2.62 EPS for the current fiscal year.
In related news, Director Thomas Brosig sold 8,188 shares of the business’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $31.35, for a total transaction of $256,693.80. Following the transaction, the director now directly owns 29,548 shares in the company, valued at $926,329.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Wayne S. Miller sold 65,783 shares of the business’s stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $33.71, for a total transaction of $2,217,544.93. Following the transaction, the chief operating officer now owns 249,201 shares in the company, valued at $8,400,565.71. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by insiders.
About G-III Apparel Group
G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates in 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.
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