Oxford Industries (NYSE:OXM) Releases FY 2024 Earnings Guidance

Oxford Industries (NYSE:OXM) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 6.500-6.700 for the period, compared to the consensus earnings per share estimate of 7.060. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. Oxford Industries also updated its Q4 guidance to $1.18-$1.38 EPS.

Oxford Industries Stock Up 1.0 %

Shares of OXM stock traded up $0.82 during mid-day trading on Wednesday, reaching $84.11. The company’s stock had a trading volume of 581,408 shares, compared to its average volume of 277,951. The company’s 50 day simple moving average is $77.75 and its 200-day simple moving average is $88.93. Oxford Industries has a 12-month low of $72.24 and a 12-month high of $113.88. The firm has a market capitalization of $1.32 billion, a PE ratio of 46.21 and a beta of 1.56.

Oxford Industries (NYSE:OXM) last announced its earnings results on Wednesday, December 11th. The textile maker reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.20). The firm had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $316.84 million. Oxford Industries had a net margin of 1.92% and a return on equity of 21.93%. Oxford Industries’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. As a group, research analysts anticipate that Oxford Industries will post 7.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of Oxford Industries from $101.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Citigroup decreased their target price on Oxford Industries from $92.00 to $65.00 and set a “sell” rating for the company in a research report on Friday, September 13th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $86.00 price objective on shares of Oxford Industries in a research note on Wednesday, December 4th.

Insider Activity at Oxford Industries

In related news, EVP Scott Grassmyer sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $86.77, for a total transaction of $129,721.15. Following the completion of the sale, the executive vice president now directly owns 31,428 shares in the company, valued at approximately $2,727,007.56. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.70% of the company’s stock.

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.