Wall Street analysts predict that Genesco Inc. (NYSE:GCO) will report sales of $544.10 million for the current quarter, according to Zacks. Two analysts have made estimates for Genesco’s earnings. The lowest sales estimate is $540.20 million and the highest is $548.00 million. Genesco reported sales of $713.07 million during the same quarter last year, which indicates a negative year-over-year growth rate of 23.7%. The firm is expected to report its next quarterly earnings results on Thursday, December 5th.
According to Zacks, analysts expect that Genesco will report full-year sales of $2.21 billion for the current fiscal year, with estimates ranging from $2.20 billion to $2.22 billion. For the next year, analysts forecast that the firm will post sales of $2.24 billion, with estimates ranging from $2.23 billion to $2.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Genesco.
Genesco (NYSE:GCO) last posted its quarterly earnings results on Friday, September 6th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.18. The business had revenue of $486.57 million during the quarter, compared to the consensus estimate of $491.65 million. Genesco had a positive return on equity of 9.83% and a negative net margin of 1.80%. Genesco’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share.
A number of brokerages have issued reports on GCO. Susquehanna Bancshares set a $48.00 price objective on Genesco and gave the company a “buy” rating in a research note on Friday, September 6th. Zacks Investment Research upgraded Genesco from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research note on Tuesday, September 10th. ValuEngine downgraded Genesco from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Finally, Pivotal Research upgraded Genesco from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $48.00 in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.00.
In related news, VP Mario Gallione sold 2,049 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $40.31, for a total transaction of $82,595.19. Following the transaction, the vice president now directly owns 36,309 shares in the company, valued at approximately $1,463,615.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. grew its holdings in Genesco by 185.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 189,654 shares of the company’s stock valued at $8,020,000 after purchasing an additional 123,191 shares during the period. Morgan Stanley raised its holdings in shares of Genesco by 455.5% in the second quarter. Morgan Stanley now owns 143,379 shares of the company’s stock valued at $6,064,000 after buying an additional 117,569 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Genesco in the second quarter valued at about $4,883,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Genesco by 122.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 171,967 shares of the company’s stock valued at $7,272,000 after buying an additional 94,794 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Genesco by 74.5% in the second quarter. Renaissance Technologies LLC now owns 113,800 shares of the company’s stock valued at $4,813,000 after buying an additional 48,600 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.
NYSE:GCO traded up $1.07 during trading on Friday, reaching $38.26. The company’s stock had a trading volume of 17,542 shares, compared to its average volume of 345,519. The firm has a market cap of $549.86 million, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.83 and a beta of 0.54. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.32 and a current ratio of 1.43. The firm has a 50 day moving average of $37.75 and a 200-day moving average of $41.31. Genesco has a 12 month low of $31.65 and a 12 month high of $50.73.
Genesco Company Profile
Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.
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