SunTrust Banks Weighs in on Genesco Inc.’s Q1 2019 Earnings (GCO)

Genesco Inc. (NYSE:GCO) – Equities researchers at SunTrust Banks issued their Q1 2019 earnings per share estimates for shares of Genesco in a research note issued on Tuesday, according to Zacks Investment Research. SunTrust Banks analyst P. Quintiliano expects that the company will earn $0.11 per share for the quarter. SunTrust Banks has a “Buy” rating and a $41.00 price objective on the stock.

Genesco (NYSE:GCO) last posted its quarterly earnings data on Friday, December 1st. The company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.10). The company had revenue of $716.80 million for the quarter, compared to analysts’ expectations of $706.58 million. Genesco had a positive return on equity of 6.93% and a negative net margin of 4.24%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 EPS.

GCO has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Genesco from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a report on Wednesday, January 31st. Buckingham Research raised their price objective on shares of Genesco from $23.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, November 20th. Pivotal Research set a $44.00 price objective on shares of Genesco and gave the company a “buy” rating in a report on Wednesday, January 31st. ValuEngine lowered shares of Genesco from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Piper Jaffray Companies set a $35.00 price objective on shares of Genesco and gave the company a “buy” rating in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.90.

Genesco (NYSE GCO) traded up $0.05 during trading on Friday, reaching $38.60. 125,359 shares of the company’s stock were exchanged, compared to its average volume of 434,379. The firm has a market cap of $752.72, a price-to-earnings ratio of -6.09, a PEG ratio of 1.16 and a beta of 1.32. Genesco has a 12 month low of $20.90 and a 12 month high of $63.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.47 and a current ratio of 2.31.

A number of large investors have recently made changes to their positions in GCO. MetLife Investment Advisors LLC purchased a new position in Genesco during the 4th quarter worth $282,000. Legion Partners Asset Management LLC purchased a new position in Genesco during the 4th quarter worth $26,777,000. Municipal Employees Retirement System of Michigan grew its position in Genesco by 43.9% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 15,510 shares of the company’s stock worth $504,000 after purchasing an additional 4,730 shares during the last quarter. Verition Fund Management LLC purchased a new position in Genesco during the 4th quarter worth $293,000. Finally, Quad Capital Management Advisors LLC purchased a new position in Genesco during the 4th quarter worth $390,000. Hedge funds and other institutional investors own 99.24% of the company’s stock.

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Genesco Company Profile

Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.

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Earnings History and Estimates for Genesco (NYSE:GCO)

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