Guess Inc. (GES) Stock Rating Upgraded by Zacks Investment Research
Guess Inc. (NYSE:GES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $16.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 11.27% from the stock’s previous close.
According to Zacks, “Estimates have been revised upward over the past 60 days since Guess’ posted earnings of $0.14 per share, which beat the Zacks Consensus Estimate of $0.06. Earnings also surpassed management’s guidance. Revenue were almost flat year over year as improvement in Europe was offset by deterioration in American retail and wholesale business. However, revenues missed the Zacks Consensus Estimate. The company raised the lower end of fiscal 2017 earnings as it expects comps to improve in the second half of the year. The company has a strong e-Commerce business and is aggressively opening stores in the Americas Retail category to boost sales. However, the company’s operations in China have been hampered by tough macroeconomic challenges.”
A number of other research analysts also recently issued reports on the company. Piper Jaffray Cos. downgraded Guess from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $15.00 to $12.00 in a research note on Tuesday, July 19th. Mizuho restated a “neutral” rating and issued a $17.00 price objective on shares of Guess in a research note on Tuesday, July 12th. Telsey Advisory Group upped their price objective on Guess from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, August 25th. Jefferies Group upped their price objective on Guess from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 25th. Finally, B. Riley restated a “buy” rating and issued a $21.00 price objective on shares of Guess in a research note on Tuesday, August 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.07.
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Guess (NYSE:GES) opened at 14.38 on Tuesday. Guess has a 1-year low of $13.78 and a 1-year high of $23.45. The company has a 50-day moving average price of $15.36 and a 200-day moving average price of $15.94. The firm has a market cap of $1.21 billion, a P/E ratio of 18.11 and a beta of 0.76.
Guess (NYSE:GES) last announced its quarterly earnings data on Wednesday, August 24th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The firm earned $545 million during the quarter, compared to the consensus estimate of $551.53 million. Guess had a return on equity of 5.16% and a net margin of 3.10%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. On average, equities research analysts forecast that Guess will post $0.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Wednesday, September 7th were issued a $0.225 dividend. The ex-dividend date was Friday, September 2nd. This represents a $0.90 annualized dividend and a dividend yield of 6.26%. Guess’s payout ratio is currently 112.50%.
In other Guess news, Director Anthony Chidoni sold 4,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $15.54, for a total value of $62,160.00. Following the sale, the director now owns 157,744 shares of the company’s stock, valued at approximately $2,451,341.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amigo Victor Herrero purchased 2,177 shares of the stock in a transaction on Monday, September 26th. The stock was acquired at an average cost of $14.87 per share, for a total transaction of $32,371.99. Following the acquisition, the chief executive officer now owns 334,703 shares in the company, valued at $4,977,033.61. The disclosure for this purchase can be found here. 28.80% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in Guess by 744.4% in the first quarter. Renaissance Technologies LLC now owns 1,428,700 shares of the company’s stock valued at $26,817,000 after buying an additional 1,259,500 shares during the last quarter. State Street Corp boosted its position in shares of Guess by 21.6% in the second quarter. State Street Corp now owns 5,470,291 shares of the company’s stock worth $82,330,000 after buying an additional 973,006 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Guess by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,175,584 shares of the company’s stock worth $92,941,000 after buying an additional 698,604 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Guess by 5.7% in the second quarter. BlackRock Fund Advisors now owns 6,540,717 shares of the company’s stock worth $98,438,000 after buying an additional 355,028 shares in the last quarter. Finally, Credit Suisse AG boosted its position in shares of Guess by 100.7% in the second quarter. Credit Suisse AG now owns 532,658 shares of the company’s stock worth $8,017,000 after buying an additional 267,304 shares in the last quarter. 77.63% of the stock is currently owned by hedge funds and other institutional investors.
Guess Company Profile
Guess?, Inc designs, markets, distributes and licenses a lifestyle collection of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, which includes its retail and e-commerce operations in North and Central America and its retail operations in South America; Europe, which includes its wholesale, retail and e-commerce operations in Europe and the Middle East; Asia, which includes its retail, e-commerce and wholesale operations in Asia; Americas Wholesale, which includes its wholesale operations in the Americas, and Licensing, which includes licensing operations of the Company across the world.
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