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

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

Superior Group of Companies Stock Performance

NASDAQ SGC traded down $0.35 during trading hours on Friday, hitting $17.44. 62,480 shares of the company’s stock traded hands, compared to its average volume of 93,337. 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 has a 52 week low of $9.86 and a 52 week high of $21.80. The firm has a market capitalization of $292.54 million, a P/E ratio of 21.01, a P/E/G ratio of 2.22 and a beta of 1.42. The business’s fifty day moving average price is $15.12 and its two-hundred day moving average price is $17.06.

Superior Group of Companies Dividend Announcement

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

Analyst Ratings Changes

SGC has been the subject of a number of research analyst reports. DA Davidson reissued a “buy” rating and issued a $24.00 target price on shares of Superior Group of Companies in a report on Tuesday, October 8th. StockNews.com downgraded shares of Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Finally, 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 research report on Wednesday, August 21st.

Insider Activity

In other news, insider Jake Himelstein bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $13.00 per share, with a total value of $26,000.00. Following the acquisition, the insider now owns 40,825 shares of the company’s stock, valued at approximately $530,725. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jake Himelstein purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost 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 approximately $530,725. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Benstock bought 10,000 shares of the stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $13.45 per share, with a total value of $134,500.00. Following the completion of the transaction, the chief executive officer now directly owns 583,848 shares in the company, valued at approximately $7,852,755.60. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 15,500 shares of company stock valued at $206,700 in the last 90 days. Company insiders own 27.10% of the company’s stock.

About Superior Group of Companies

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.