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 0.740. The company issued revenue guidance of $563.0 million-$570.0 million, compared to the consensus revenue estimate of $564.2 million.

Wall Street Analysts Forecast Growth

SGC has been the topic of a number of recent research reports. Barrington Research reduced their target price 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. DA Davidson restated a “buy” rating and issued a $24.00 price objective on shares of Superior Group of Companies in a report on Tuesday, October 8th. Finally, StockNews.com lowered shares of Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Superior Group of Companies Stock Down 2.0 %

Shares of SGC traded down $0.35 during trading hours on Friday, hitting $17.44. The company had a trading volume of 62,470 shares, compared to its average volume of 93,337. The stock has a market capitalization of $292.47 million, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.22 and a beta of 1.42. The firm has a fifty day moving average price of $15.12 and a 200-day moving average price of $17.06. Superior Group of Companies has a 52-week low of $9.86 and a 52-week 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.

Superior Group of Companies (NASDAQ:SGC) last posted its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The firm had revenue of $131.74 million for the quarter, compared to analysts’ expectations of $136.60 million. Superior Group of Companies had a net margin of 2.37% and a return on equity of 6.74%. During the same quarter in the previous year, the company earned $0.08 EPS. On average, equities research analysts forecast that Superior Group of Companies will post 0.74 EPS for the current fiscal year.

Superior Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Wednesday, November 13th. Superior Group of Companies’s payout ratio is 67.47%.

Insider Activity

In related news, Director Loreen M. Spencer purchased 3,500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of $13.20 per share, with a total value of $46,200.00. Following the acquisition, the director now directly owns 7,266 shares in the company, valued at $95,911.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Loreen M. Spencer purchased 3,500 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 7,266 shares of the company’s stock, valued at $95,911.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Benstock acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost of $13.45 per share, with a total value of $134,500.00. Following the acquisition, the chief executive officer now directly owns 583,848 shares of the company’s stock, valued at $7,852,755.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,500 shares of company stock valued at $206,700 over the last ninety days. 27.10% of the stock is currently owned by corporate 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.