Oxford Industries (NYSE:OXM) Shares Gap Down After Earnings Miss

Oxford Industries, Inc. (NYSE:OXM) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $101.02, but opened at $97.70. Oxford Industries shares last traded at $96.86, with a volume of 94,898 shares changing hands.

The textile maker reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.04). The firm had revenue of $398.18 million during the quarter, compared to analysts’ expectations of $404.81 million. Oxford Industries had a net margin of 3.86% and a return on equity of 26.71%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.78 EPS.

Oxford Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were paid a $0.67 dividend. This is an increase from Oxford Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $2.68 annualized dividend and a yield of 2.72%. Oxford Industries’s payout ratio is presently 72.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OXM. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 price target on shares of Oxford Industries in a research note on Thursday. Citigroup cut shares of Oxford Industries from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $98.00 to $94.00 in a research report on Monday, April 1st. Finally, UBS Group lowered their target price on shares of Oxford Industries from $106.00 to $104.00 and set a “neutral” rating for the company in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $103.60.

Insiders Place Their Bets

In related news, CEO Douglas B. Wood sold 33,587 shares of Oxford Industries stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $104.95, for a total value of $3,524,955.65. Following the sale, the chief executive officer now directly owns 12,394 shares in the company, valued at approximately $1,300,750.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oxford Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OXM. Swiss National Bank lifted its stake in Oxford Industries by 0.6% during the third quarter. Swiss National Bank now owns 34,600 shares of the textile maker’s stock valued at $3,326,000 after purchasing an additional 200 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Oxford Industries by 5.5% during the third quarter. Janney Montgomery Scott LLC now owns 3,986 shares of the textile maker’s stock worth $383,000 after purchasing an additional 207 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Oxford Industries by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 186,652 shares of the textile maker’s stock valued at $17,943,000 after purchasing an additional 7,837 shares during the last quarter. Pathstone Family Office LLC acquired a new stake in Oxford Industries during the 3rd quarter worth about $239,000. Finally, Deutsche Bank AG lifted its stake in Oxford Industries by 12.8% during the third quarter. Deutsche Bank AG now owns 7,952 shares of the textile maker’s stock valued at $764,000 after buying an additional 903 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Oxford Industries Stock Down 2.6 %

The business’s 50 day simple moving average is $106.52 and its 200 day simple moving average is $102.24. The company has a market capitalization of $1.54 billion, a PE ratio of 27.32 and a beta of 1.55. The company has a quick ratio of 0.55, a current ratio of 1.22 and a debt-to-equity ratio of 0.05.

Oxford Industries Company Profile

Oxford Industries, Inc, an apparel company, designs, sources, markets, and distributes products of lifestyle and other brands worldwide. The company offers men's and women's sportswear and related products under the Tommy Bahama brand; and women's and girl's dresses and sportswear, scarves, bags, jewelry, and belts, as well as children's apparel, swim, footwear, and licensed products under the Lilly Pulitzer brand.