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

Oxford Industries (NYSE:OXM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 6.500-6.700 for the period, compared to the consensus EPS 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 Price Performance

Shares of Oxford Industries stock traded up $0.82 during midday trading on Wednesday, hitting $84.11. The company had a trading volume of 581,408 shares, compared to its average volume of 277,951. The stock has a market cap of $1.32 billion, a PE ratio of 46.21 and a beta of 1.56. Oxford Industries has a 1-year low of $72.24 and a 1-year high of $113.88. The business’s 50 day simple moving average is $77.75 and its two-hundred day simple moving average is $88.93.

Oxford Industries (NYSE:OXM) last released its earnings results on Wednesday, December 11th. The textile maker reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $316.84 million. Oxford Industries had a return on equity of 21.93% and a net margin of 1.92%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.01 earnings per share. On average, sell-side analysts expect that Oxford Industries will post 7.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OXM shares. UBS Group lowered 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 lowered their target price on shares of Oxford Industries from $92.00 to $65.00 and set a “sell” rating on the stock in a report on Friday, September 13th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $86.00 price target on shares of Oxford Industries in a research report on Wednesday, December 4th.

Insider Activity at Oxford Industries

In other Oxford Industries news, EVP Scott Grassmyer sold 1,495 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $86.77, for a total value of $129,721.15. Following the completion of the transaction, the executive vice president now directly owns 31,428 shares of the company’s stock, valued at approximately $2,727,007.56. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.70% of the stock is currently owned by corporate insiders.

About Oxford Industries

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.