Wall Street brokerages expect that Genesco (NYSE:GCO) will report earnings per share (EPS) of ($0.06) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Genesco’s earnings, with the lowest EPS estimate coming in at ($0.34) and the highest estimate coming in at $0.04. Genesco posted earnings per share of $0.06 during the same quarter last year, which would indicate a negative year-over-year growth rate of 200%. The business is expected to announce its next earnings report on Thursday, May 24th.
According to Zacks, analysts expect that Genesco will report full-year earnings of $3.33 per share for the current fiscal year, with EPS estimates ranging from $3.20 to $3.45. For the next year, analysts forecast that the firm will report earnings of $3.58 per share, with EPS estimates ranging from $3.50 to $3.70. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Genesco.
Genesco (NYSE:GCO) last released its quarterly earnings results on Thursday, March 15th. The company reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.06. Genesco had a positive return on equity of 7.07% and a negative net margin of 3.85%. The company had revenue of $930.00 million for the quarter, compared to analyst estimates of $902.00 million. During the same period in the previous year, the company posted $2.15 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis.
Several research firms recently weighed in on GCO. Piper Jaffray set a $40.00 price target on Genesco and gave the company a “buy” rating in a research report on Wednesday, February 14th. Susquehanna Bancshares reiterated a “hold” rating and set a $31.00 price objective on shares of Genesco in a research note on Tuesday, January 16th. Zacks Investment Research upgraded Genesco from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 4th. ValuEngine cut Genesco from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Robert W. Baird reiterated a “hold” rating and set a $35.00 price objective on shares of Genesco in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Genesco has a consensus rating of “Hold” and a consensus target price of $41.00.
In other news, Director Thurgood Marshall, Jr. sold 2,200 shares of the business’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $42.31, for a total value of $93,082.00. Following the completion of the transaction, the director now owns 9,281 shares in the company, valued at $392,679.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors grew its holdings in shares of Genesco by 68.9% in the third quarter. Nationwide Fund Advisors now owns 52,324 shares of the company’s stock worth $1,392,000 after acquiring an additional 21,347 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Genesco by 635.0% in the third quarter. JPMorgan Chase & Co. now owns 190,388 shares of the company’s stock worth $5,026,000 after acquiring an additional 164,485 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Genesco by 17.6% in the third quarter. Wells Fargo & Company MN now owns 64,964 shares of the company’s stock worth $1,728,000 after acquiring an additional 9,739 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Genesco by 37.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 275,132 shares of the company’s stock worth $7,319,000 after acquiring an additional 74,700 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Genesco by 27.6% in the third quarter. California Public Employees Retirement System now owns 129,633 shares of the company’s stock worth $3,448,000 after acquiring an additional 28,076 shares during the period. Hedge funds and other institutional investors own 99.24% of the company’s stock.
Shares of NYSE GCO traded up $0.80 during mid-day trading on Friday, hitting $44.35. 51,910 shares of the stock traded hands, compared to its average volume of 389,940. The company has a quick ratio of 0.59, a current ratio of 2.72 and a debt-to-equity ratio of 0.10. Genesco has a 52 week low of $20.90 and a 52 week high of $55.90. The firm has a market capitalization of $854.28, a PE ratio of 13.87, a P/E/G ratio of 1.36 and a beta of 1.06.
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Genesco Company Profile
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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