Brokers Set Expectations for Oxford Industries, Inc.’s FY2023 Earnings (NYSE:OXM)
Oxford Industries, Inc. (NYSE:OXM – Get Rating) – Telsey Advisory Group raised their FY2023 earnings per share (EPS) estimates for shares of Oxford Industries in a research report issued to clients and investors on Thursday, June 9th. Telsey Advisory Group analyst D. Telsey now anticipates that the textile maker will earn $10.00 per share for the year, up from their prior forecast of $9.09. The consensus estimate for Oxford Industries’ current full-year earnings is $9.95 per share. Telsey Advisory Group also issued estimates for Oxford Industries’ Q1 2024 earnings at $3.56 EPS and FY2024 earnings at $10.50 EPS.
Oxford Industries (NYSE:OXM – Get Rating) last released its quarterly earnings results on Wednesday, June 8th. The textile maker reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.72. Oxford Industries had a return on equity of 32.41% and a net margin of 13.04%. The firm had revenue of $352.58 million during the quarter, compared to the consensus estimate of $329.03 million. During the same quarter in the prior year, the firm posted $1.89 EPS. The business’s revenue was up 32.7% on a year-over-year basis.
OXM has been the subject of a number of other research reports. StockNews.com downgraded Oxford Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 7th. Citigroup increased their price objective on Oxford Industries from $86.00 to $92.00 and gave the company a “sell” rating in a report on Thursday. Finally, Truist Financial initiated coverage on Oxford Industries in a report on Thursday, April 7th. They issued a “buy” rating and a $126.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $111.00.
NYSE:OXM opened at $93.91 on Monday. Oxford Industries has a twelve month low of $76.21 and a twelve month high of $110.37. The business has a 50 day moving average price of $89.63 and a two-hundred day moving average price of $90.65. The company has a market cap of $1.53 billion, a P/E ratio of 9.84 and a beta of 1.61.
Institutional investors have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D acquired a new stake in Oxford Industries during the 4th quarter valued at $2,679,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in Oxford Industries during the 4th quarter valued at $51,000. NorthCrest Asset Manangement LLC bought a new position in Oxford Industries during the 4th quarter worth $383,000. Comerica Bank increased its position in Oxford Industries by 0.7% during the 3rd quarter. Comerica Bank now owns 42,744 shares of the textile maker’s stock worth $3,927,000 after buying an additional 313 shares during the period. Finally, Pacer Advisors Inc. increased its position in Oxford Industries by 38.4% during the 4th quarter. Pacer Advisors Inc. now owns 56,504 shares of the textile maker’s stock worth $5,736,000 after buying an additional 15,671 shares during the period. 87.97% of the stock is owned by institutional investors and hedge funds.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, July 14th. Oxford Industries’s payout ratio is presently 23.06%.
Oxford Industries Company Profile (Get Rating)
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; women’s and girl’s dresses and sportswear, scarves, bags, jewelry, and belts, as well as footwear and children’s apparel and swimwear under the Lilly Pulitzer brand; and men’s shirts, pants, shorts, outerwear, ties, swimwear, footwear, and accessories, as well as women and youth products under the Southern Tide brand.
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