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

Superior Group of Companies (NASDAQ:SGC) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.730-0.790 for the period, compared to the consensus earnings per share estimate of 0.640. The company issued revenue guidance of $563.0 million-$570.0 million, compared to the consensus revenue estimate of $562.2 million.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SGC. Singular Research restated a buy rating on shares of Superior Group of Companies in a research report on Tuesday, March 19th. StockNews.com raised Superior Group of Companies from a buy rating to a strong-buy rating in a report on Wednesday, March 20th. Finally, Barrington Research raised their target price on Superior Group of Companies from $13.00 to $18.00 and gave the stock an outperform rating in a research note on Friday, March 15th.

Superior Group of Companies Stock Performance

NASDAQ SGC opened at $16.65 on Wednesday. The company’s 50 day simple moving average is $16.04 and its two-hundred day simple moving average is $13.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.78 and a quick ratio of 1.80. Superior Group of Companies has a 1 year low of $7.35 and a 1 year high of $17.70. The stock has a market capitalization of $278.22 million, a PE ratio of 30.27, a P/E/G ratio of 2.62 and a beta of 1.40.

Superior Group of Companies (NASDAQ:SGC) last released its quarterly earnings results on Wednesday, March 13th. The textile maker reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. The firm had revenue of $147.24 million for the quarter, compared to analysts’ expectations of $142.59 million. Superior Group of Companies had a net margin of 1.61% and a return on equity of 4.51%. Analysts predict that Superior Group of Companies will post 0.64 earnings per share for the current fiscal year.

Superior Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Friday, February 23rd were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.56 annualized dividend and a dividend yield of 3.36%. Superior Group of Companies’s payout ratio is currently 101.82%.

Insider Transactions at Superior Group of Companies

In other news, insider Philip Koosed sold 9,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $15.64, for a total value of $140,760.00. Following the transaction, the insider now owns 82,436 shares of the company’s stock, valued at $1,289,299.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Philip Koosed sold 9,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $15.64, for a total value of $140,760.00. Following the completion of the transaction, the insider now directly owns 82,436 shares in the company, valued at $1,289,299.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul V. Mellini sold 6,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $15.66, for a total transaction of $93,960.00. Following the completion of the transaction, the director now owns 92,955 shares of the company’s stock, valued at $1,455,675.30. The disclosure for this sale can be found here. Insiders own 26.50% 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.