Genesco Trading Down 7.4% After Earnings Miss (GCO)
Genesco (NYSE:GCO)’s share price dropped 7.4% during trading on Thursday following a weaker than expected earnings announcement, StockRatingsNetwork.com reports. The company traded as low as $79.67 and last traded at $82.10, with a volume of 372,830 shares trading hands. The stock had previously closed at $88.67.
The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.21. The company had revenue of $615.00 million for the quarter. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis.
A number of research firms have recently commented on GCO. Analysts at SunTrust raised their price target on shares of Genesco from $90.00 to $101.00 in a research note on Tuesday. Separately, analysts at Susquehanna raised their price target on shares of Genesco from $85.00 to $100.00 in a research note on Monday. Finally, analysts at Avondale Partners upgraded shares of Genesco from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.00.
The stock has a 50-day moving average of $80.48 and a 200-day moving average of $76.97. The company has a market cap of $1.975 billion and a price-to-earnings ratio of 22.64.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in six segments: Journeys Group, Underground Station Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands.
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