Analysts expect Genesco (NYSE:GCO) to announce $650.20 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Genesco’s earnings. The highest sales estimate is $677.70 million and the lowest is $627.90 million. Genesco posted sales of $643.37 million during the same quarter last year, which suggests a positive year over year growth rate of 1.1%. The company is scheduled to issue its next earnings results on Thursday, May 24th.
According to Zacks, analysts expect that Genesco will report full-year sales of $2.93 billion for the current year, with estimates ranging from $2.86 billion to $2.99 billion. For the next year, analysts expect that the business will post sales of $2.98 billion per share, with estimates ranging from $2.92 billion to $3.04 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Genesco.
Genesco (NYSE:GCO) last announced its earnings results on Thursday, March 15th. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.06. The firm had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $902.00 million. Genesco had a positive return on equity of 7.07% and a negative net margin of 3.85%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.15 earnings per share.
GCO has been the subject of a number of recent analyst reports. SunTrust Banks set a $44.00 target price on Genesco and gave the stock a “buy” rating in a research report on Thursday, March 15th. Jefferies Group raised Genesco from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. Pivotal Research lowered Genesco from a “buy” rating to a “hold” rating and cut their price target for the stock from $46.00 to $41.00 in a report on Thursday, March 15th. ValuEngine lowered Genesco from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, Zacks Investment Research upgraded Genesco from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Genesco currently has an average rating of “Hold” and an average price target of $41.00.
In other news, Director Thurgood Marshall, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $42.31, for a total transaction of $93,082.00. Following the completion of the transaction, the director now directly owns 9,281 shares in the company, valued at $392,679.11. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.30% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its position in Genesco by 46.1% in the third quarter. Public Employees Retirement System of Ohio now owns 6,249 shares of the company’s stock valued at $166,000 after acquiring an additional 1,971 shares during the period. Teacher Retirement System of Texas bought a new stake in Genesco in the fourth quarter valued at $216,000. Wolverine Trading LLC grew its position in Genesco by 113.1% in the fourth quarter. Wolverine Trading LLC now owns 7,883 shares of the company’s stock valued at $256,000 after acquiring an additional 4,183 shares during the period. MetLife Investment Advisors LLC bought a new stake in Genesco in the fourth quarter valued at $282,000. Finally, Verition Fund Management LLC bought a new stake in Genesco in the fourth quarter valued at $293,000. Hedge funds and other institutional investors own 99.24% of the company’s stock.
Shares of Genesco stock opened at $42.90 on Tuesday. The company has a market cap of $847.31, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 0.59. Genesco has a 12-month low of $20.90 and a 12-month high of $55.90.
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Genesco Inc retails and wholesales footwear, apparel, and accessories. The company's Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy, and Underground by Journeys retail stores, as well as through e-commerce and catalogs for young men, women, and children.
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