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Superior Group of Companies, Inc. (SGC)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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18.84-0.41 (-2.13%)
At close: 4:00PM EDT

18.84 0.00 (0.00%)
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Previous Close19.25
Open19.43
Bid8.18 x 1300
Ask24.45 x 1100
Day's Range17.93 - 19.66
52 Week Range6.10 - 19.93
Volume103,579
Avg. Volume44,063
Market Cap288.71M
Beta (5Y Monthly)0.57
PE Ratio (TTM)11.29
EPS (TTM)1.67
Earnings DateJul 29, 2020
Forward Dividend & Yield0.40 (2.08%)
Ex-Dividend DateFeb 11, 2020
1y Target Est21.00
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Superior Uniform (SGC) Q2 Earnings and Revenues Beat Estimates
    Zacks

    Superior Uniform (SGC) Q2 Earnings and Revenues Beat Estimates

    Superior Uniform (SGC) delivered earnings and revenue surprises of 316.67% and 53.04%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?

  • GlobeNewswire

    Superior Group of Companies, Inc. Reports Record Operating Results for the Second Quarter 2020 and Announces Dividend

    * Net sales increased 73 percent including $58.5 million in sales of PPE * Earnings per share (diluted) increased 456 percent to $1.00 * Reduced debt an additional $16.1 million * Reinstates regular $0.10 per share dividend and declares $0.10 per share special dividend * Celebrates 100-year anniversary since its founding in 1920SEMINOLE, Fla., July 29, 2020 (GLOBE NEWSWIRE) -- Superior Group of Companies, Inc. (NASDAQ: SGC), today announced its second quarter operating results for 2020.The Company reported that for the second quarter ended June 30, 2020, net sales increased 73 percent to $159.4 million, compared to second quarter 2019 net sales of $92.3 million. Pretax Income was $18.9 million compared to $3.7 million in 2019. Net income was $15.2 million, or $1.00 per diluted share, compared to $2.8 million, or $0.18 per diluted share, for the second quarter of 2019.  The Board of Directors today declared a regular quarterly dividend of $0.10 per share, payable August 25, 2020, to shareholders of record as of August 11, 2020 and a special dividend of $0.10 per share, payable August 25, 2020, to shareholders of record as of August 11, 2020.Michael Benstock, Chief Executive Officer, commented, “We are extremely proud to report record operating results for the second quarter and first half of 2020.  It is particularly gratifying to see the hard work, flexibility and ingenuity of our team members pay off and to further demonstrate our ability to adapt and thrive in times like these.  The intentional diversity of our business segments and our historical emphasis on essential businesses bodes well for the future of each of our segments.  While some smaller portions of our business were significantly impacted negatively, we were able to more than offset these shortfalls with the successful pivot to selling personal protective equipment (“PPE”) in addition to our legacy healthcare products, both of which continue to be in high demand during the pandemic.   Net sales of PPE were approximately $58.5 million in the second quarter, and we ended the quarter with a very strong backlog, including nearly $52 million of PPE products expected to ship primarily during the third and fourth quarters of this year.  We continue to book additional PPE orders on a regular basis.“As a result of the tremendous cash flow generated from operating activities, we were able to further reduce our outstanding debt an additional $16.1 million in the second quarter and over $34 million in the first half of 2020.  Our very strong balance sheet has positioned us very well to be able to capitalize on opportunities as they arise during these times. “While we don’t generally provide guidance on individual quarters or years, we are confident that we will continue to see significant increases in our net sales and income in comparison with prior year periods for the balance of the year. “We are also pleased to be able to reinstate the regular quarterly dividend and to provide a special dividend equal to the amount that was suspended during the second quarter.”CONFERENCE CALLSuperior Group of Companies will hold a conference call on Wednesday, July 29, 2020 at 10:00 a.m. Eastern Time to discuss the Company’s results. A supplemental slide presentation will be available during the call via the live webcast streaming. Interested individuals may join the teleconference by dialing (844) 861-5505 for U.S. dialers and (412) 317-6586 for International dialers. The Canadian Toll Free number is (866) 605-3852. Please ask to be joined into the Superior Group of Companies call. The live webcast, archived replay and supplemental slide presentation can also be accessed in the investor information section of the Company’s website at www.superiorgroupofcompanies.com.A telephone replay of the teleconference will be available one hour after the end of the call through 10:00 a.m. Eastern Time on August 12, 2020. To access the replay, dial (877) 344-7529 in the United States or (412) 317-0088 from international locations.  Canadian dialers can access the replay at (855) 669-9658.  Please reference conference number 10145740 for all replay access.Disclosure Regarding Forward Looking StatementsCertain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified by use of the words “may,” “will,” “should,” “could,” “expect,” anticipate,” “estimate,” “believe,” “intend,” “project,” “potential,” or “plan” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements in this press release may include, without limitation: (1) the projected impact of the current coronavirus (COVID-19) on our, our customers’, and our suppliers’ businesses, (2) projections of revenue, income, and other items relating to our financial position and results of operations, (3) statements of our plans, objectives, strategies, goals and intentions, (4) statements regarding the capabilities, capacities, market position and expected development of our business operations, and (5) statements of expected industry and general economic trends. Such forward-looking statements are subject to certain risks and uncertainties that may materially adversely affect the anticipated results.  Such risks and uncertainties include, but are not limited to, the following: the impact of competition; the effect of uncertainties related to the current coronavirus (COVID-19) pandemic on the U.S. and global markets, our business, operations, customers, suppliers and employees, including without limitation the length and scope of the restrictions imposed by various governments and success of efforts to find a suitable vaccine, among other factors; general economic conditions, including employment levels, in the areas of the United States of America (“United States”)  in which the Company’s customers are located; changes in the healthcare, industrial, commercial and hospitality industries where uniforms and service apparel are worn; our ability to identify suitable acquisition targets, successfully integrate any acquired businesses, successfully manage our expanding operations, or discover liabilities associated with such business during the diligence process; the price and availability of cotton, polyester and other manufacturing materials; attracting and retaining senior management and key personnel and other factors described in the Company’s filings with the Securities and Exchange Commission, including those described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements made herein and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and we disclaim any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances, except as may be required by law.About Superior Group of Companies, Inc. (SGC):Superior Group of Companies®, formerly Superior Uniform Group, established in 1920, is a combination of companies that help our customers unlock the power of their brands by creating extraordinary brand experiences for their employees and customers. We provide customized support for each of our divisions through our shared services model.Fashion Seal Healthcare®, HPI™ and CID Resources are signature uniform brands of Superior Group of Companies. Each is one of America’s leading providers of uniforms and image apparel in the markets we serve. We specialize in innovative uniform program design, global manufacturing, and state-of-the-art distribution. Every workday, more than 6 million Americans go to work wearing a uniform from Superior Group of Companies.BAMKO®, Tangerine Promotions® and Public Identity® are signature promotional products and branded merchandise brands of Superior Group of Companies. We provide unique custom branding, design, sourcing, and marketing solutions to some of the world’s most successful brands.The Office Gurus® is a global provider of custom call and contact center support. As a true strategic partner, The Office Gurus implements customized solutions for our customers in order to accelerate their growth and improve our customers’ service experiences.SGC’s commitment to service, technology, quality and value-added benefits, as well as our financial strength and resources, provides unparalleled support for our customers’ diverse needs while embracing a “Customer 1st, Every Time!” philosophy and culture in all of our business segments.Visit www.superiorgroupofcompanies.com for more information.Contact: Andrew D. Demott, Jr. COO, CFO & Treasurer (727) 803-7135-OR-Hala Elsherbini  Senior Managing Director Three Part Advisors (214) 442-0016 Comparative figures are as follows:  SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES  CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  (Unaudited)  (In thousands, except shares and per share data)           Three Months Ended June 30,     2020  2019  Net sales $ 159,359 $92,270         Costs and expenses:      Cost of goods sold  103,421  59,927  Selling and administrative expenses  36,298  26,885  Other periodic pension costs  333  547  Interest expense  433  1,259     140,485  88,618  Income before taxes on income  18,874  3,652  Income tax expense  3,700  871  Net income $ 15,174 $2,781         Net income per share:      Basic $ 1.01 $0.19  Diluted $ 1.00 $0.18         Weighted average shares outstanding during the period:      Basic  15,016,062  14,952,802  Diluted  15,171,086  15,287,357         Cash dividends per common share $ - $0.10          SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES  CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  (Unaudited)              Six Months Ended June 30,     2020  2019  Net sales $ 253,604 $178,822         Costs and expenses:      Cost of goods sold  164,215  116,211  Selling and administrative expenses  63,787  52,748  Other periodic pension costs  618  806  Interest expense  1,493  2,429     230,113  172,194  Income before taxes on income  23,491  6,628  Income tax expense  4,950  1,471  Net income $ 18,541 $5,157         Net income per share:      Basic $ 1.23 $0.35  Diluted $ 1.22 $0.34         Weighted average shares outstanding during the period      Basic  15,020,457  14,940,072  Diluted  15,185,992  15,275,006         Cash dividends per common share $ 0.10 $0.20         SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES   CONDENSED CONSOLIDATED BALANCE SHEETS  (Unaudited)  (In thousands, except share and par value data)           June 30, December 31,     2020   2019   ASSETS      Current assets:      Cash and cash equivalents $ 5,102  $9,038   Accounts receivable, less allowance for doubtful accounts of $6,693 and $2,964, respectively  87,064   79,746   Accounts receivable - other  819   1,083   Inventories  72,462   73,379   Contract assets  35,129   38,533   Prepaid expenses and other current assets  11,046   9,934   Total current assets  211,622   211,713   Property, plant and equipment, net  35,656   32,825   Operating lease right-of-use assets  4,595   5,445   Intangible assets, net  60,634   62,536   Goodwill  36,071   36,292   Other assets  9,592   10,122   Total assets $ 358,170  $358,933          LIABILITIES AND SHAREHOLDERS’ EQUITY      Current liabilities:      Accounts payable $ 33,275  $33,271   Other current liabilities  39,348   18,894   Current portion of long-term debt  15,286   15,286   Current portion of acquisition-related contingent liabilities  2,786   1,905   Total current liabilities  90,695   69,356   Long-term debt  69,730   104,003   Long-term pension liability  9,932   10,253   Long-term acquisition-related contingent liabilities  1,742   3,423   Long-term operating lease liabilities  1,880   2,380   Deferred tax liability  4,405   7,042   Other long-term liabilities  5,311   4,922   Commitments and contingencies      Shareholders’ equity:      Preferred stock, $.001 par value - authorized 300,000 shares (none issued)  -   -   Common stock, $.001 par value - authorized 50,000,000 shares, issued and outstanding 15,231,781 and 15,227,604 shares, respectively.  15   15   Additional paid-in capital  58,381   57,442   Retained earnings  124,243   107,581   Accumulated other comprehensive income (loss), net of tax:      Pensions  (6,492)  (7,224)  Cash flow hedges  80   91   Foreign currency translation adjustment  (1,752)  (351)  Total shareholders’ equity  174,475   157,554   Total liabilities and shareholders’ equity $ 358,170  $358,933          SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands)         Six Months Ended June 30,    2020   2019  CASH FLOWS FROM OPERATING ACTIVITIES     Net income $ 18,541  $5,157  Adjustments to reconcile net income to net cash provided by operating activities:    Depreciation and amortization  3,959   4,211  Provision for bad debts - accounts receivable  4,517   361  Share-based compensation expense  1,061   1,032  Deferred income tax benefit  (2,417)  (1,979) Gain on sale of property, plant and equipment  -   (3) Change in fair value of acquisition-related contingent liabilities  1,165   417  Changes in assets and liabilities:     Accounts receivable - trade  (12,261)  (7,230) Accounts receivable - other  264   280  Contract assets  3,404   5,562  Inventories  492   2,113  Prepaid expenses and other current assets  (1,479)  (2,625) Other assets  390   (2,102) Accounts payable and other current liabilities  21,023   (14) Long-term pension liability  639   812  Other long-term liabilities  464   759  Net cash provided by operating activities  39,762   6,751        CASH FLOWS FROM INVESTING ACTIVITIES     Additions to property, plant and equipment  (4,893)  (4,979) Proceeds from disposals of property, plant and equipment  -   3  Net cash used in investing activities  (4,893)  (4,976)       CASH FLOWS FROM FINANCING ACTIVITIES     Proceeds from borrowings of debt  77,525   94,466  Repayment of debt  (111,838)  (88,667) Payment of cash dividends  (1,521)  (3,023) Payment of acquisition-related contingent liability  (1,966)  (961) Proceeds received on exercise of stock options  33   280  Tax (provision) benefit from vesting of acquisition-related restricted stock  (13)  30  Common stock reacquired and retired  (500)  (1,036) Net cash provided by (used in) financing activities  (38,280)  1,089        Effect of currency exchange rates on cash  (525)  41  Net increase (decrease) in cash and cash equivalents  (3,936)  2,905  Cash and cash equivalents balance, beginning of period  9,038   5,362  Cash and cash equivalents balance, end of period $ 5,102  $8,267

  • Superior Uniform (SGC) Earnings Expected to Grow: Should You Buy?
    Zacks

    Superior Uniform (SGC) Earnings Expected to Grow: Should You Buy?

    Superior Uniform (SGC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • GlobeNewswire

    Superior Group of Companies Announces Second Quarter 2020 Earnings Conference Call and Webcast

    SEMINOLE, Fla., July 14, 2020 (GLOBE NEWSWIRE) -- Superior Group of Companies, Inc.® (NASDAQ: SGC) (the “Company”) today announced that it intends to release the results of its operations for the second quarter 2020 before the market opens on Wednesday, July 29, 2020. Michael Benstock, Chief Executive Officer and Andrew D. Demott, Jr., Chief Operating Officer, Chief Financial Officer and Treasurer, will host a teleconference at 10:00 a.m. Eastern Time on that day to discuss the Company’s results and answer appropriate questions.Interested individuals may join the teleconference by dialing (844) 861-5505 for U.S. dialers and (412) 317-6586 for International dialers. The Canadian Toll-Free number is (866) 605-3852. Please ask to be joined into the Superior Group of Companies call. The live webcast and archived replay can also be accessed in the investor information section of the Company’s website at www.superiorgroupofcompanies.com. A telephone replay of the teleconference will be available one hour after the end of the call through 10:00 a.m. Eastern Time on August 12, 2020. To access the replay, dial (877) 344-7529 in the United States or (412) 317-0088 from international locations.  Canadian dialers can access the replay at (855) 669-9658.  Please reference conference number 10145740 for all replay access.About Superior Group of Companies, Inc. (SGC):Superior Group of Companies®, formerly Superior Uniform Group, established in 1920, is a combination of companies that help our customers unlock the power of their brands by creating extraordinary brand experiences for their employees and customers. We provide customized support for each of our divisions through our shared services model.Fashion Seal Healthcare®, HPI™ and CID Resources are signature uniform brands of Superior Group of Companies. Each is one of America’s leading providers of uniforms and image apparel in the markets we serve. We specialize in innovative uniform program design, global manufacturing, and state-of-the-art distribution. Every workday, more than 6 million Americans go to work wearing a uniform from Superior Group of Companies.BAMKO®, Tangerine Promotions® and Public Identity® are signature promotional products and branded merchandise brands of Superior Group of Companies. We provide unique custom branding, design, sourcing, and marketing solutions to some of the world’s most successful brands.The Office Gurus® is a global provider of custom call and contact center support. As a true strategic partner, The Office Gurus implements customized solutions for our customers in order to accelerate their growth and improve our customers’ service experiences.SGC’s commitment to service, technology, quality and value-added benefits, as well as our financial strength and resources, provides unparalleled support for our customers’ diverse needs while embracing a “Customer 1st, Every Time!” philosophy and culture in all of our business segments.Visit www.superiorgroupofcompanies.com for more information. CONTACT: Contact: Andrew D. Demott, Jr. COO, CFO & Treasurer 727-803-7135 -OR- Hala Elsherbini Senior Managing Director Three Part Advisors (972) 458-8000

  • GlobeNewswire

    SUPERIOR GROUP OF COMPANIES CONSOLIDATING HPI DISTRIBUTION CENTER INTO COMPANY’S EUDORA, ARKANSAS DISTRIBUTION CENTER

    SEMINOLE, Fla., June 17, 2020 --  Superior Group of Companies, Inc.® (NASDAQ: SGC) has announced transitioning all HPI® Distribution Center operations in Alpharetta, Georgia.

  • GlobeNewswire

    Superior Group of Companies to Present at the Virtual East Coast IDEAS Investor Conference

    Seminole, Fla., June 15, 2020 -- Superior Group of Companies, Inc. ® (NASDAQ: SGC) today announced that Michael Benstock, Chief Executive Officer and Andy Demott, Chief.

  • GlobeNewswire

    The Office Gurus® Named First Place Call Center and One of the “Best Companies for Young Professionals”

    The Office Gurus®, a division of Superior Group of Companies™, Inc. (SGC), has been awarded first place among Call Centers and fourth place overall in the “Best Companies for Young Professionals” rankings by Employers for Youth. Employers for Youth is a quantitative study that seeks to recognize the best companies for young professionals in Latin America. On its first edition in El Salvador, results were based on employee survey responses across multiple industries.

  • Do Hedge Funds Love Superior Uniform Group Inc (SGC)?
    Insider Monkey

    Do Hedge Funds Love Superior Uniform Group Inc (SGC)?

    We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]

  • A Rising Share Price Has Us Looking Closely At Superior Group of Companies, Inc.'s (NASDAQ:SGC) P/E Ratio
    Simply Wall St.

    A Rising Share Price Has Us Looking Closely At Superior Group of Companies, Inc.'s (NASDAQ:SGC) P/E Ratio

    Those holding Superior Group of Companies (NASDAQ:SGC) shares must be pleased that the share price has rebounded 41...