Oxford Industries (NYSE:OXM) Updates 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.

Wall Street Analyst Weigh In

Several brokerages have commented on OXM. Citigroup decreased their price objective on shares of Oxford Industries from $92.00 to $65.00 and set a “sell” rating for the company in a report on Friday, September 13th. UBS Group decreased their price objective on shares of Oxford Industries from $101.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $86.00 price objective on shares of Oxford Industries in a report on Wednesday, December 4th.

Oxford Industries Stock Performance

Shares of Oxford Industries stock traded up $0.82 during trading on Wednesday, hitting $84.11. The company’s stock had a trading volume of 592,799 shares, compared to its average volume of 277,951. The company has a fifty day simple moving average of $77.75 and a two-hundred day simple moving average of $88.93. The company has a market capitalization of $1.32 billion, a PE ratio of 46.21 and a beta of 1.56. Oxford Industries has a 52 week low of $72.24 and a 52 week high of $113.88.

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

Insider Buying and Selling

In related news, EVP Scott Grassmyer sold 1,495 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $86.77, for a total transaction of $129,721.15. Following the sale, the executive vice president now directly owns 31,428 shares of the company’s stock, valued at approximately $2,727,007.56. This represents a 4.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.70% of the stock is owned by company insiders.

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.