Oxford Industries (NYSE:OXM) Issues FY 2024 Earnings Guidance

Oxford Industries (NYSE:OXM) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 6.500-6.700 for the period, compared to the consensus 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.

Oxford Industries Stock Performance

OXM stock opened at $76.87 on Friday. The company has a market capitalization of $1.21 billion, a PE ratio of 86.37 and a beta of 1.56. Oxford Industries has a one year low of $72.24 and a one year high of $113.88. The company’s 50 day moving average price is $77.79 and its two-hundred day moving average price is $88.82.

Oxford Industries (NYSE:OXM) last announced its quarterly earnings data on Wednesday, December 11th. The textile maker reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The company had revenue of $308.00 million for the quarter, compared to the consensus estimate of $316.84 million. Oxford Industries had a net margin of 0.98% and a return on equity of 19.26%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. On average, research analysts predict that Oxford Industries will post 7.16 EPS for the current year.

Oxford Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, January 17th. Oxford Industries’s payout ratio is 301.13%.

Analyst Ratings Changes

Several equities research analysts have recently commented on OXM shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $86.00 target price on shares of Oxford Industries in a research report on Wednesday, December 4th. UBS Group cut their price objective on Oxford Industries from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Citigroup decreased their target price on Oxford Industries from $92.00 to $65.00 and set a “sell” rating for the company in a research report on Friday, September 13th.

Insider Buying and Selling at Oxford Industries

In other news, EVP Scott Grassmyer sold 1,495 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $86.77, for a total value of $129,721.15. Following the transaction, the executive vice president now directly owns 31,428 shares in the company, valued at $2,727,007.56. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.70% of the company’s stock.

About Oxford Industries

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.