Zacks: Brokerages Expect Genesco Inc. (GCO) to Announce $2.30 EPS

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Brokerages predict that Genesco Inc. (NYSE:GCO) will announce earnings of $2.30 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Genesco’s earnings. The lowest EPS estimate is $2.29 and the highest is $2.31. Genesco reported earnings of $2.15 per share during the same quarter last year, which would indicate a positive year over year growth rate of 7%. The business is expected to announce its next earnings results on Thursday, March 14th.

On average, analysts expect that Genesco will report full-year earnings of $3.27 per share for the current year, with EPS estimates ranging from $3.25 to $3.28. For the next fiscal year, analysts anticipate that the business will report earnings of $3.62 per share, with EPS estimates ranging from $3.55 to $3.68. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Genesco.

Genesco (NYSE:GCO) last issued its earnings results on Thursday, March 14th. The company reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.15). Genesco had a net margin of 2.31% and a return on equity of 7.21%. The business had revenue of $675.50 million for the quarter, compared to analyst estimates of $914.85 million. During the same quarter last year, the firm posted $2.15 earnings per share. Genesco’s revenue was down 2.0% on a year-over-year basis.

GCO has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Genesco from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Piper Jaffray Companies set a $41.00 price target on shares of Genesco and gave the company a “hold” rating in a research report on Friday, November 30th. Pivotal Research restated a “buy” rating and issued a $52.00 price target on shares of Genesco in a research report on Monday, December 3rd. Zacks Investment Research lowered shares of Genesco from a “hold” rating to a “sell” rating in a research report on Monday, December 3rd. Finally, TheStreet upgraded shares of Genesco from a “c+” rating to a “b” rating in a research report on Tuesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.00.

In other Genesco news, CEO Robert J. Dennis sold 11,380 shares of the business’s stock in a transaction dated Wednesday, January 23rd. The shares were sold at an average price of $47.14, for a total value of $536,453.20. Following the completion of the transaction, the chief executive officer now directly owns 261,361 shares of the company’s stock, valued at $12,320,557.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Marty G. Dickens sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $49.50, for a total transaction of $247,500.00. Following the completion of the transaction, the director now directly owns 18,578 shares of the company’s stock, valued at $919,611. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,880 shares of company stock worth $807,953. Company insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. raised its stake in shares of Genesco by 112.3% in the fourth quarter. Meeder Asset Management Inc. now owns 603 shares of the company’s stock worth $27,000 after acquiring an additional 319 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Genesco in the fourth quarter worth about $48,000. PNC Financial Services Group Inc. raised its stake in shares of Genesco by 24.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,350 shares of the company’s stock worth $60,000 after acquiring an additional 265 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Genesco in the third quarter worth about $222,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Genesco in the third quarter worth about $224,000.

NYSE:GCO opened at $43.13 on Friday. The stock has a market capitalization of $916.54 million, a price-to-earnings ratio of 13.74, a PEG ratio of 2.51 and a beta of 0.72. Genesco has a 12 month low of $36.60 and a 12 month high of $51.85. The company has a current ratio of 2.26, a quick ratio of 0.48 and a debt-to-equity ratio of 0.09.

Genesco declared that its board has approved a share buyback plan on Friday, December 14th that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 14.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Genesco Company Profile

Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

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