Genesco (NYSE:GCO) released its earnings results on Thursday. The company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.06, Bloomberg Earnings reports. The business had revenue of $930.00 million for the quarter, compared to the consensus estimate of $902.00 million. Genesco had a positive return on equity of 7.07% and a negative net margin of 3.85%. Genesco’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.15 earnings per share. Genesco updated its FY19 guidance to $3.05-3.45 EPS.
Genesco (NYSE:GCO) opened at $39.85 on Friday. The firm has a market capitalization of $775.62, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.11. The company has a current ratio of 2.70, a quick ratio of 0.47 and a debt-to-equity ratio of 0.10. Genesco has a 12-month low of $20.90 and a 12-month high of $59.75.
A number of hedge funds and other institutional investors have recently made changes to their positions in GCO. Carillon Tower Advisers Inc. acquired a new position in Genesco during the fourth quarter worth approximately $42,811,000. Legion Partners Asset Management LLC acquired a new position in Genesco during the fourth quarter worth approximately $26,777,000. Royce & Associates LP acquired a new position in Genesco during the fourth quarter worth approximately $11,130,000. JPMorgan Chase & Co. increased its position in Genesco by 635.0% during the third quarter. JPMorgan Chase & Co. now owns 190,388 shares of the company’s stock worth $5,026,000 after buying an additional 164,485 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Genesco by 373.2% during the third quarter. Russell Investments Group Ltd. now owns 188,169 shares of the company’s stock worth $5,004,000 after buying an additional 148,403 shares during the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on GCO shares. SunTrust Banks set a $44.00 target price on Genesco and gave the company a “buy” rating in a research report on Thursday. Jefferies Group raised Genesco from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. Pivotal Research downgraded Genesco from a “buy” rating to a “hold” rating and lowered their target price for the company from $46.00 to $41.00 in a research report on Thursday. Piper Jaffray Companies set a $35.00 target price on Genesco and gave the company a “buy” rating in a research report on Wednesday, November 29th. Finally, ValuEngine downgraded Genesco from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $40.00.
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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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