Oxford Industries (NYSE:OXM) Updates Q1 Earnings Guidance

Oxford Industries (NYSE:OXM) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.60-2.80 for the period, compared to the consensus earnings per share estimate of $3.58. The company issued revenue guidance of $395-415 million, compared to the consensus revenue estimate of $419.13 million. Oxford Industries also updated its FY 2024 guidance to 9.300-9.700 EPS.

Oxford Industries Trading Down 0.1 %

OXM opened at $112.40 on Friday. Oxford Industries has a 12 month low of $82.33 and a 12 month high of $113.88. The stock has a 50-day moving average of $101.70 and a 200 day moving average of $96.76. The firm has a market cap of $1.76 billion, a P/E ratio of 30.46 and a beta of 1.59. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.11.

Oxford Industries (NYSE:OXM) last announced its earnings results on Thursday, March 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.02). Oxford Industries had a net margin of 3.86% and a return on equity of 26.08%. The business had revenue of $404.43 million for the quarter, compared to analysts’ expectations of $408.28 million. During the same quarter last year, the firm earned $2.28 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts forecast that Oxford Industries will post 10.28 EPS for the current year.

Oxford Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from Oxford Industries’s previous quarterly dividend of $0.65. Oxford Industries’s dividend payout ratio (DPR) is currently 70.46%.

Wall Street Analyst Weigh In

A number of research firms have commented on OXM. Telsey Advisory Group restated a market perform rating and issued a $102.00 price objective on shares of Oxford Industries in a research note on Monday, March 25th. UBS Group increased their price target on shares of Oxford Industries from $105.00 to $106.00 and gave the stock a neutral rating in a research note on Tuesday, March 19th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Oxford Industries currently has a consensus rating of Hold and an average target price of $103.20.

Institutional Investors Weigh In On Oxford Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new position in shares of Oxford Industries in the fourth quarter valued at $25,000. Quarry LP boosted its position in Oxford Industries by 602.0% during the second quarter. Quarry LP now owns 358 shares of the textile maker’s stock worth $35,000 after purchasing an additional 307 shares during the period. Coppell Advisory Solutions Corp. bought a new position in Oxford Industries during the fourth quarter worth $35,000. UBS Group AG boosted its position in Oxford Industries by 51.4% during the third quarter. UBS Group AG now owns 501 shares of the textile maker’s stock worth $45,000 after purchasing an additional 170 shares during the period. Finally, State of Wyoming boosted its position in Oxford Industries by 154.2% during the fourth quarter. State of Wyoming now owns 943 shares of the textile maker’s stock worth $88,000 after purchasing an additional 572 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

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; 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; and men, women, and kids products under the Southern Tide brand.