Superior Group of Companies (NASDAQ:SGC) Releases Earnings Results, Beats Estimates By $0.13 EPS

Superior Group of Companies (NASDAQ:SGC) issued its earnings results on Wednesday. The textile maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13, Zacks reports. Superior Group of Companies had a return on equity of 6.74% and a net margin of 2.37%. The company had revenue of $149.69 million for the quarter, compared to analysts’ expectations of $143.03 million. During the same period last year, the business earned $0.19 EPS. Superior Group of Companies updated its FY 2024 guidance to 0.730-0.790 EPS.

Superior Group of Companies Stock Down 2.0 %

Shares of SGC traded down $0.35 during trading hours on Friday, reaching $17.44. 62,480 shares of the stock traded hands, compared to its average volume of 93,337. Superior Group of Companies has a 52 week low of $9.86 and a 52 week high of $21.80. The company has a market cap of $292.54 million, a price-to-earnings ratio of 21.01, a PEG ratio of 2.22 and a beta of 1.42. The stock has a fifty day simple moving average of $15.12 and a 200 day simple moving average of $17.06. The company has a current ratio of 2.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.36.

Superior Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.56 annualized dividend and a dividend yield of 3.21%. Superior Group of Companies’s payout ratio is 67.47%.

Insiders Place Their Bets

In other news, insider Jake Himelstein bought 2,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $13.00 per share, with a total value of $26,000.00. Following the transaction, the insider now directly owns 40,825 shares in the company, valued at $530,725. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael Benstock purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $13.45 per share, with a total value of $134,500.00. Following the acquisition, the chief executive officer now owns 583,848 shares of the company’s stock, valued at $7,852,755.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jake Himelstein acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $13.00 per share, with a total value of $26,000.00. Following the acquisition, the insider now directly owns 40,825 shares of the company’s stock, valued at $530,725. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 15,500 shares of company stock valued at $206,700. Corporate insiders own 27.10% of the company’s stock.

Analysts Set New Price Targets

SGC has been the topic of several research reports. Barrington Research lowered their price objective on shares of Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, August 21st. DA Davidson restated a “buy” rating and issued a $24.00 target price on shares of Superior Group of Companies in a report on Tuesday, October 8th. Finally, StockNews.com downgraded Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Superior Group of Companies Company Profile

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Branded Products, Healthcare Apparel, and Contact Centers. The Branded Products segment produces and sells customized merchandising solutions, promotional products, and branded uniform to chain retailer, food service, entertainment, technology, transportation, and other industries under BAMKO and HPI brands.