Zacks Investment Research cut shares of Guess? (NYSE:GES) from a buy rating to a hold rating in a report published on Friday morning.
According to Zacks, “Shares of Guess? have outperformed the industry over the past six months, courtesy of a solid surprise history. The third quarter of fiscal 2018 marked the company’s third-consecutive earnings beat. During the quarter the company’s performance mainly gained from continued strength in European and Asia business segments. The regions have been depicting robust growth backed by store openings, positive comps and wholesale growth. Driven by such upsides, management raised fiscal 2018 earnings view. Further, management is optimistic about e-commerce business that has been improving steadily. However, Guess? has been facing a tough retail environment in the Americas, due to lower consumer spending. As a result, the company has resorted to store closures in these regions to focus on other prospective areas. Also, the company remains exposed to the unfavorable currency fluctuations.”
Several other brokerages have also recently issued reports on GES. Cowen restated a hold rating and issued a $17.00 price objective on shares of Guess? in a research note on Wednesday, November 22nd. B. Riley started coverage on Guess? in a research note on Friday, December 22nd. They issued a neutral rating and a $17.00 price objective for the company. Finally, Jefferies Group restated a hold rating and issued a $13.00 price objective on shares of Guess? in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $15.21.
Shares of Guess? (NYSE:GES) traded up $0.19 during midday trading on Friday, reaching $17.52. The company’s stock had a trading volume of 1,042,429 shares, compared to its average volume of 808,162. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.36 and a current ratio of 2.58. The firm has a market capitalization of $1,425.81, a P/E ratio of -438.00, a PEG ratio of 1.62 and a beta of 0.42. Guess? has a fifty-two week low of $9.56 and a fifty-two week high of $18.30.
Guess? (NYSE:GES) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $554.00 million during the quarter, compared to the consensus estimate of $569.75 million. Guess? had a positive return on equity of 4.35% and a negative net margin of 0.10%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.11 earnings per share. analysts expect that Guess? will post 0.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.14%. The ex-dividend date was Tuesday, December 12th. Guess?’s payout ratio is -2,250.00%.
In other news, Director Kay Isaacson-Leibowitz sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $17.73, for a total value of $70,920.00. Following the completion of the transaction, the director now directly owns 38,433 shares in the company, valued at $681,417.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 29.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in Guess? during the second quarter valued at approximately $129,000. Northwestern Mutual Investment Management Company LLC purchased a new position in Guess? during the second quarter valued at approximately $166,000. Piedmont Investment Advisors LLC purchased a new position in Guess? during the second quarter valued at approximately $168,000. Bridgewater Associates LP purchased a new position in Guess? during the second quarter valued at approximately $185,000. Finally, Invictus RG purchased a new position in Guess? during the third quarter valued at approximately $256,000. Institutional investors own 82.38% of the company’s stock.
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Guess? Company Profile
Guess?, Inc designs, markets, distributes and licenses a lifestyle collections of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, Europe, Asia, Americas Wholesale and Licensing. The Americas Retail segment includes the Company’s retail and e-commerce operations in North and Central America and its retail operations in South America.
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