Genesco Inc. (NYSE:GCO) Expected to Announce Quarterly Sales of $633.27 Million
Wall Street brokerages predict that Genesco Inc. (NYSE:GCO) will post $633.27 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Genesco’s earnings, with estimates ranging from $619.50 million to $649.30 million. Genesco reported sales of $625.56 million in the same quarter last year, which indicates a positive year over year growth rate of 1.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, September 7th.
On average, analysts expect that Genesco will report full-year sales of $633.27 million for the current year, with estimates ranging from $2.90 billion to $2.92 billion. For the next year, analysts anticipate that the firm will report sales of $2.96 billion per share, with estimates ranging from $2.95 billion to $2.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Genesco.
Genesco (NYSE:GCO) last issued its earnings results on Thursday, May 25th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.22. The business had revenue of $643.40 million for the quarter, compared to the consensus estimate of $644.15 million. Genesco had a net margin of 3.07% and a return on equity of 8.41%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS.
GCO has been the topic of a number of research reports. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $43.00 price target (down from $66.00) on shares of Genesco in a report on Tuesday, May 30th. ValuEngine cut shares of Genesco from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC set a $62.00 price objective on shares of Genesco and gave the company a “hold” rating in a research report on Thursday, April 20th. Piper Jaffray Companies raised shares of Genesco from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $63.00 to $62.00 in a research report on Thursday, April 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $38.00 price target (down previously from $59.00) on shares of Genesco in a research report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $48.29.
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Genesco (NYSE:GCO) traded down 2.57% on Friday, hitting $32.20. 133,286 shares of the stock traded hands. The company’s 50 day moving average price is $33.80 and its 200-day moving average price is $50.20. Genesco has a 52-week low of $30.65 and a 52-week high of $74.21. The stock has a market cap of $630.89 million, a price-to-earnings ratio of 7.23 and a beta of 1.26.
In related news, Director Kevin Patrick Mcdermott acquired 1,340 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were bought at an average price of $37.18 per share, with a total value of $49,821.20. Following the completion of the acquisition, the director now owns 5,192 shares in the company, valued at $193,038.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Genesco during the first quarter worth about $105,000. Envestnet Asset Management Inc. boosted its position in Genesco by 34.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,860 shares of the company’s stock worth $116,000 after buying an additional 475 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Genesco by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock worth $131,000 after buying an additional 1,703 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Genesco by 44.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after buying an additional 775 shares in the last quarter. Finally, First Quadrant L P CA bought a new position in Genesco during the second quarter worth $153,000.
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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