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

Superior Group of Companies (NASDAQ:SGC) released its earnings results on Wednesday. The textile maker reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13, Zacks reports. The business had revenue of $149.69 million during the quarter, compared to the consensus estimate of $143.03 million. Superior Group of Companies had a net margin of 2.37% and a return on equity of 6.74%. During the same quarter last year, the firm earned $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 Down 2.0 %

Shares of Superior Group of Companies stock traded down $0.35 on Friday, hitting $17.44. The company had a trading volume of 62,480 shares, compared to its average volume of 93,337. Superior Group of Companies has a 1 year low of $9.86 and a 1 year high of $21.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.82 and a current ratio of 2.82. The stock has a 50 day moving average of $15.12 and a 200-day moving average of $17.06. The stock has a market capitalization of $292.54 million, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.22 and a beta of 1.42.

Superior Group of Companies Dividend Announcement

The firm also recently announced 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 of this dividend is Wednesday, November 13th. Superior Group of Companies’s payout ratio is presently 67.47%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SGC shares. StockNews.com lowered Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Barrington Research lowered their price objective on shares of Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, August 21st. Finally, DA Davidson reiterated a “buy” rating and issued a $24.00 price target on shares of Superior Group of Companies in a research note on Tuesday, October 8th.

Insider Activity at Superior Group of Companies

In other news, CEO Michael Benstock bought 10,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 583,848 shares in the company, valued at $7,852,755.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael Benstock acquired 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, for a total transaction of $134,500.00. Following the transaction, the chief executive officer now owns 583,848 shares in the company, valued at $7,852,755.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Loreen M. Spencer purchased 3,500 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $13.20 per share, with a total value of $46,200.00. Following the purchase, the director now owns 7,266 shares of the company’s stock, valued at approximately $95,911.20. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 15,500 shares of company stock valued at $206,700. 27.10% of the stock is owned by insiders.

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.