Genesco (NYSE:GCO) Issues FY 2023 Earnings Guidance

Genesco (NYSE:GCOGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided EPS guidance of $7.00-$7.75 for the period, compared to the consensus EPS estimate of $7.41. The company issued revenue guidance of $2.45 billion-$2.49 billion, compared to the consensus revenue estimate of $2.48 billion.

Shares of GCO traded down $0.20 during midday trading on Thursday, reaching $53.98. The stock had a trading volume of 6,217 shares, compared to its average volume of 259,572. Genesco has a 52 week low of $50.01 and a 52 week high of $73.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.56 and a quick ratio of 0.70. The firm’s 50 day moving average price is $59.80 and its 200-day moving average price is $62.82. The company has a market capitalization of $741.15 million, a P/E ratio of 6.96 and a beta of 1.92.

Genesco (NYSE:GCOGet Rating) last posted its quarterly earnings data on Thursday, May 26th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.53. Genesco had a return on equity of 17.62% and a net margin of 4.61%. The company had revenue of $520.80 million for the quarter, compared to the consensus estimate of $521.05 million. During the same quarter in the previous year, the business earned $0.79 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities analysts forecast that Genesco will post 7.41 earnings per share for the current year.

GCO has been the topic of a number of research reports. TheStreet downgraded Genesco from a b rating to a c+ rating in a research note on Thursday, May 26th. StockNews.com started coverage on Genesco in a report on Thursday, March 31st. They issued a buy rating on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $69.50.

Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in shares of Genesco by 41.0% in the 1st quarter. Lazard Asset Management LLC now owns 708 shares of the company’s stock valued at $45,000 after purchasing an additional 206 shares during the period. Captrust Financial Advisors grew its holdings in shares of Genesco by 45.2% in the 1st quarter. Captrust Financial Advisors now owns 1,227 shares of the company’s stock valued at $78,000 after acquiring an additional 382 shares in the last quarter. Delphia USA Inc. acquired a new stake in Genesco in the 1st quarter valued at about $294,000. Wellington Management Group LLP acquired a new stake in Genesco in the 1st quarter valued at about $321,000. Finally, Lido Advisors LLC acquired a new stake in Genesco during the first quarter worth approximately $386,000. Institutional investors own 93.60% of the company’s stock.

Genesco Company Profile (Get Rating)

Genesco Inc operates as a retailer and wholesaler of footwear, apparel, and accessories. The company operates through four segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Licensed Brands. The Journeys Group segment offers footwear and accessories through the Journeys, Journeys Kidz, and Little Burgundy retail chains, as well as through e-commerce and catalogs for young men, women, and children.

See Also

Earnings History and Estimates for Genesco (NYSE:GCO)

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