G-III Apparel Group, LTD. (NASDAQ:GIII) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• G-III Apparel Group has a consensus “Hold” rating among seven analysts: three buys, three holds and one sell. The average 12-month price target is $33.00, below the stock’s reported $33.72 opening price.
• The company’s latest quarter exceeded expectations, with an adjusted loss of $0.21 per share versus the $0.30 consensus loss and revenue of $535.96 million versus estimates of $529.07 million, although revenue declined 8.2% year over year.
• Institutional ownership is high at 92.13%, with BlackRock and several other major investors recently establishing positions. G-III also pays a quarterly dividend of $0.10 per share, implying a 1.2% annual yield.

G-III Apparel Group, LTD. (NASDAQ:GIII - Get Free Report) has been assigned an average rating of "Hold" from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $33.00.

Several brokerages have recently commented on GIII. Wall Street Zen cut shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Saturday. Telsey Advisory Group reissued a "market perform" rating and issued a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Weiss Ratings upgraded G-III Apparel Group from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. Zacks Research downgraded G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Finally, BTIG Research lifted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, June 5th.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds have recently added to or reduced their stakes in GIII. BlackRock Inc. acquired a new position in G-III Apparel Group in the second quarter valued at approximately $232,832,000. Norges Bank acquired a new stake in shares of G-III Apparel Group during the 4th quarter worth approximately $36,200,000. Bank of America Corp DE acquired a new stake in shares of G-III Apparel Group during the 2nd quarter worth approximately $14,963,000. Balyasny Asset Management L.P. bought a new stake in shares of G-III Apparel Group in the 2nd quarter worth approximately $7,546,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of G-III Apparel Group in the 2nd quarter worth approximately $9,113,000. Institutional investors and hedge funds own 92.13% of the company's stock.

G-III Apparel Group Price Performance

GIII opened at $33.72 on Wednesday. The stock has a market capitalization of $1.42 billion, a PE ratio of 11.92 and a beta of 1.28. The firm's fifty day moving average price is $34.75 and its 200 day moving average price is $31.66. G-III Apparel Group has a 12-month low of $24.61 and a 12-month high of $37.54.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.09. The firm had revenue of $535.96 million for the quarter, compared to the consensus estimate of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The firm's revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. 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. On average, equities research analysts forecast that G-III Apparel Group will post 2.24 earnings per share for the current fiscal year.

G-III Apparel Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 22nd were paid a dividend of $0.10 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.40 annualized dividend and a yield of 1.2%. G-III Apparel Group's dividend payout ratio (DPR) is 14.13%.

About G-III Apparel Group

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.

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