G-III Apparel Group (GIII) Laps the Stock Market: Here's Why
The most recent trading session ended with G-III Apparel Group (GIII) standing at $31.34, reflecting a +1.23% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.96% for the day. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 1.3%.
Prior to today's trading, shares of the clothing and accessories maker had lost 0.74% over the past month. This has lagged the Consumer Discretionary sector's gain of 2.64% and the S&P 500's gain of 3.69% in that time.
Investors will be eagerly watching for the performance of G-III Apparel Group in its upcoming earnings disclosure. On that day, G-III Apparel Group is projected to report earnings of $0.67 per share, which would represent year-over-year growth of 63.41%. In the meantime, our current consensus estimate forecasts the revenue to be $817.35 million, indicating a 4.34% decline compared to the corresponding quarter of the prior year.
Investors might also notice recent changes to analyst estimates for G-III Apparel Group. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, G-III Apparel Group possesses a Zacks Rank of #1 (Strong Buy).
With respect to valuation, G-III Apparel Group is currently being traded at a Forward P/E ratio of 7.84. This represents a discount compared to its industry's average Forward P/E of 13.17.
The Textile - Apparel industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 98, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report
