FY2023 EPS Estimates for G-III Apparel Group, Ltd. Lowered by Analyst (NASDAQ:GIII)

G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Rating) – Stock analysts at Telsey Advisory Group dropped their FY2023 EPS estimates for shares of G-III Apparel Group in a note issued to investors on Monday, March 13th. Telsey Advisory Group analyst D. Telsey now anticipates that the textile maker will post earnings per share of $2.88 for the year, down from their prior estimate of $2.95. Telsey Advisory Group currently has a “Market Perform” rating and a $14.00 target price on the stock. The consensus estimate for G-III Apparel Group’s current full-year earnings is $2.93 per share. Telsey Advisory Group also issued estimates for G-III Apparel Group’s Q4 2023 earnings at $0.44 EPS, Q3 2024 earnings at $1.57 EPS, Q4 2024 earnings at $0.66 EPS and FY2024 earnings at $3.25 EPS.

Other analysts have also issued reports about the stock. CL King lowered shares of G-III Apparel Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $22.00 in a research report on Thursday, December 1st. UBS Group decreased their target price on shares of G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, December 8th. Wells Fargo & Company decreased their target price on shares of G-III Apparel Group from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 1st. Barclays decreased their target price on shares of G-III Apparel Group from $18.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 6th. Finally, StockNews.com downgraded shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a report on Thursday, December 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Hold” and a consensus target price of $19.13.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $15.33 on Tuesday. The company has a current ratio of 3.09, a quick ratio of 1.68 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $728.02 million, a PE ratio of 4.36, a PEG ratio of 0.31 and a beta of 2.65. The firm’s fifty day simple moving average is $15.90 and its 200 day simple moving average is $16.66. G-III Apparel Group has a 1 year low of $11.60 and a 1 year high of $31.70.

Institutional Investors Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC raised its stake in shares of G-III Apparel Group by 704.6% during the third quarter. CWM LLC now owns 2,092 shares of the textile maker’s stock worth $31,000 after buying an additional 1,832 shares during the last quarter. Signaturefd LLC grew its holdings in G-III Apparel Group by 456.3% during the fourth quarter. Signaturefd LLC now owns 2,281 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 1,871 shares during the period. Lazard Asset Management LLC acquired a new position in G-III Apparel Group during the second quarter valued at approximately $69,000. Captrust Financial Advisors grew its holdings in G-III Apparel Group by 48.4% during the first quarter. Captrust Financial Advisors now owns 6,665 shares of the textile maker’s stock valued at $180,000 after purchasing an additional 2,175 shares during the period. Finally, Mutual of America Capital Management LLC grew its holdings in G-III Apparel Group by 15.0% during the second quarter. Mutual of America Capital Management LLC now owns 7,243 shares of the textile maker’s stock valued at $147,000 after purchasing an additional 945 shares during the period. 88.79% of the stock is owned by institutional investors.

About G-III Apparel Group

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G-III Apparel Group Ltd. engages in the designing, sourcing, and marketing of women’s apparel. The firm’s product range includes outerwear, dresses, sportswear, swimwear, women’s suits and performance wear, as well as handbags, footwear, small leather goods, cold weather accessories, and luggage. It operates through the Wholesale and Retail segments.