Oxford Industries (NYSE:OXM) Releases Q1 2024 Earnings Guidance

Oxford Industries (NYSE:OXM) issued an update on its first quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.600-2.800 for the period, compared to the consensus estimate of 3.580. The company issued revenue guidance of $395.0 million-$415.0 million, compared to the consensus revenue estimate of $419.2 million. Oxford Industries also updated its FY 2024 guidance to 9.300-9.700 EPS.

Oxford Industries Price Performance

Oxford Industries stock traded down $0.07 during midday trading on Thursday, reaching $112.40. The company’s stock had a trading volume of 298,588 shares, compared to its average volume of 174,246. Oxford Industries has a fifty-two week low of $82.33 and a fifty-two week high of $113.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.63 and a current ratio of 1.37. The stock’s 50 day simple moving average is $101.06 and its 200 day simple moving average is $96.53. The firm has a market capitalization of $1.76 billion, a PE ratio of 11.78 and a beta of 1.59.

Analyst Upgrades and Downgrades

OXM has been the subject of a number of recent analyst reports. Telsey Advisory Group reissued a market perform rating and issued a $102.00 target price on shares of Oxford Industries in a report on Monday. UBS Group lifted their price objective on Oxford Industries from $105.00 to $106.00 and gave the stock a neutral rating in a research report on Tuesday, March 19th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $103.20.

Institutional Investors Weigh In On Oxford Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV increased its holdings in shares of Oxford Industries by 2.9% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 3,702 shares of the textile maker’s stock valued at $391,000 after acquiring an additional 105 shares during the last quarter. Comerica Bank raised its position in shares of Oxford Industries by 0.5% during the 4th quarter. Comerica Bank now owns 22,843 shares of the textile maker’s stock valued at $2,284,000 after acquiring an additional 115 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Oxford Industries by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,108 shares of the textile maker’s stock valued at $601,000 after acquiring an additional 149 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Oxford Industries by 8.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,221 shares of the textile maker’s stock valued at $197,000 after acquiring an additional 166 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its position in shares of Oxford Industries by 5.5% during the 1st quarter. First Republic Investment Management Inc. now owns 3,205 shares of the textile maker’s stock valued at $338,000 after acquiring an additional 166 shares in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

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.