Analysts predict that Genesco Inc. (NYSE:GCO) will announce $632.65 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Genesco’s earnings. The lowest sales estimate is $620.60 million and the highest is $642.00 million. Genesco reported sales of $616.51 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 30th.
On average, analysts expect that Genesco will report full-year sales of $2.91 billion for the current financial year, with estimates ranging from $2.88 billion to $2.93 billion. For the next year, analysts forecast that the firm will report sales of $2.96 billion per share, with estimates ranging from $2.94 billion to $3.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Genesco.
Genesco (NYSE:GCO) last posted its quarterly earnings data on Tuesday, June 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Genesco had a negative net margin of 3.96% and a positive return on equity of 6.98%. The business had revenue of $645.00 million during the quarter, compared to the consensus estimate of $636.37 million. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year.
Several equities analysts have recently weighed in on the stock. ValuEngine upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research note on Saturday, May 26th. CL King downgraded shares of Genesco from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 29th. They noted that the move was a valuation call. Pivotal Research set a $44.00 target price on shares of Genesco and gave the stock a “hold” rating in a research note on Monday, June 4th. Zacks Investment Research upgraded shares of Genesco from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 15th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $45.00 target price on shares of Genesco in a research note on Friday, April 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Genesco presently has an average rating of “Hold” and an average price target of $38.43.
Genesco opened at $42.30 on Monday, according to Marketbeat Ratings. Genesco has a 52-week low of $20.90 and a 52-week high of $45.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.93 and a quick ratio of 0.64. The stock has a market cap of $842.40 million, a P/E ratio of 14.05, a P/E/G ratio of 1.38 and a beta of 1.03.
In related news, Director Thurgood Marshall, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The shares were 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 owns 9,281 shares of the company’s stock, valued at $392,679.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.30% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of GCO. Schwab Charles Investment Management Inc. grew its stake in Genesco by 27.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 351,720 shares of the company’s stock valued at $11,431,000 after acquiring an additional 76,588 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Genesco during the fourth quarter valued at approximately $216,000. California Public Employees Retirement System grew its stake in Genesco by 24.6% during the fourth quarter. California Public Employees Retirement System now owns 161,577 shares of the company’s stock valued at $5,251,000 after acquiring an additional 31,944 shares in the last quarter. Arizona State Retirement System grew its stake in Genesco by 229.3% during the fourth quarter. Arizona State Retirement System now owns 33,480 shares of the company’s stock valued at $1,088,000 after acquiring an additional 23,314 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Genesco by 15.6% during the fourth quarter. Rhumbline Advisers now owns 47,202 shares of the company’s stock valued at $1,534,000 after acquiring an additional 6,365 shares in the last quarter.
Genesco Inc retails and wholesales footwear, apparel, and accessories. The company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, Shi by Journeys, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.
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