B. Riley Brokers Increase Earnings Estimates for Genesco Inc. (GCO)
Genesco Inc. (NYSE:GCO) – Research analysts at B. Riley upped their Q4 2018 EPS estimates for shares of Genesco in a research report issued on Friday. B. Riley analyst M. Kummetz now expects that the company will post earnings per share of $2.34 for the quarter, up from their previous estimate of $2.33. B. Riley has a “Buy” rating and a $50.00 price target on the stock. B. Riley also issued estimates for Genesco’s FY2020 earnings at $4.81 EPS.
Genesco (NYSE:GCO) last posted its quarterly earnings results on Thursday, May 25th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.28 by $0.22. The business had revenue of $643.40 million during the quarter, compared to analysts’ expectations of $644.15 million. Genesco had a net margin of 3.34% and a return on equity of 10.10%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 EPS.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Genesco from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Monday, February 6th. TheStreet downgraded Genesco from a “b-” rating to a “c+” rating in a report on Monday, February 6th. Piper Jaffray Companies set a $63.00 target price on Genesco and gave the company a “hold” rating in a report on Saturday, March 11th. Jefferies Group LLC set a $62.00 price target on Genesco and gave the company a “hold” rating in a research report on Thursday, April 20th. Finally, Susquehanna Bancshares Inc raised Genesco from a “neutral” rating to a “positive” rating and set a $66.00 price target on the stock in a research report on Wednesday, April 26th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Genesco presently has an average rating of “Buy” and an average target price of $62.00.
Shares of Genesco (NYSE:GCO) opened at 36.75 on Monday. The stock has a market cap of $705.16 million, a PE ratio of 8.25 and a beta of 1.28. Genesco has a 12-month low of $33.55 and a 12-month high of $74.21. The firm has a 50-day moving average price of $50.51 and a 200 day moving average price of $58.62.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Genesco by 45,756.3% in the first quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock valued at $137,638,000 after buying an additional 2,476,790 shares during the last quarter. Norges Bank acquired a new position in Genesco during the fourth quarter valued at $33,980,000. Morgan Stanley raised its position in Genesco by 274.4% in the first quarter. Morgan Stanley now owns 289,338 shares of the company’s stock valued at $16,044,000 after buying an additional 212,064 shares during the last quarter. Bank of New York Mellon Corp raised its position in Genesco by 48.5% in the first quarter. Bank of New York Mellon Corp now owns 449,520 shares of the company’s stock valued at $24,926,000 after buying an additional 146,748 shares during the last quarter. Finally, Hood River Capital Management LLC raised its position in Genesco by 31.0% in the first quarter. Hood River Capital Management LLC now owns 270,403 shares of the company’s stock valued at $14,994,000 after buying an additional 63,990 shares during the last quarter. 95.46% of the stock is currently owned by hedge funds and other institutional investors.
Genesco Inc is a retailer and wholesaler of footwear, apparel and accessories. The Company operates in five segments: Journeys Group, Schuh Group, Lids Sports Group, Johnston & Murphy Group and Licensed Brands. It relies on independent third-party manufacturers for production of its footwear products sold at wholesale.
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