Superior Group of Companies (NASDAQ:SGC) Updates FY 2024 Earnings Guidance

Superior Group of Companies (NASDAQ:SGC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.730-0.790 for the period, compared to the consensus EPS estimate of 0.740. The company issued revenue guidance of $563.0 million-$570.0 million, compared to the consensus revenue estimate of $564.2 million.

Superior Group of Companies Price Performance

Shares of NASDAQ:SGC traded up $0.99 during midday trading on Wednesday, hitting $16.35. The stock had a trading volume of 82,297 shares, compared to its average volume of 93,524. Superior Group of Companies has a fifty-two week low of $8.53 and a fifty-two week high of $21.80. The company has a market capitalization of $274.19 million, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 2.06 and a beta of 1.42. The company has a quick ratio of 1.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $14.95 and its 200-day moving average price is $17.05.

Superior Group of Companies (NASDAQ:SGC) last released its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). Superior Group of Companies had a net margin of 2.02% and a return on equity of 5.63%. The firm had revenue of $131.74 million during the quarter, compared to analyst estimates of $136.60 million. During the same period in the prior year, the company earned $0.08 EPS. As a group, equities research analysts predict that Superior Group of Companies will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SGC. Barrington Research cut their price target on shares of Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 21st. StockNews.com lowered Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, DA Davidson reaffirmed a “buy” rating and set a $24.00 price objective on shares of Superior Group of Companies in a research report on Tuesday, October 8th.

Insiders Place Their Bets

In related news, insider Jake Himelstein acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $13.00 per share, with a total value of $26,000.00. Following the completion of the purchase, the insider now owns 40,825 shares in the company, valued at $530,725. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Loreen M. Spencer bought 3,500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of $13.20 per share, for a total transaction of $46,200.00. Following the completion of the purchase, the director now owns 7,266 shares in the company, valued at approximately $95,911.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jake Himelstein bought 2,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $13.00 per share, with a total value of $26,000.00. Following the transaction, the insider now owns 40,825 shares in the company, valued at $530,725. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 15,500 shares of company stock valued at $206,700 over the last 90 days. Insiders own 26.50% of the company’s stock.

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.