Analysts Anticipate Genesco Inc. (NYSE:GCO) Will Post Earnings of -$0.05 Per Share
Analysts expect Genesco Inc. (NYSE:GCO) to report ($0.05) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Genesco’s earnings, with estimates ranging from ($0.21) to $0.00. Genesco posted earnings per share of $0.34 in the same quarter last year, which indicates a negative year-over-year growth rate of 114.7%. The company is scheduled to report its next quarterly earnings report on Thursday, September 7th.
According to Zacks, analysts expect that Genesco will report full year earnings of $3.87 per share for the current financial year, with EPS estimates ranging from $3.62 to $3.97. For the next fiscal year, analysts forecast that the business will post earnings of $4.02 per share, with EPS estimates ranging from $3.28 to $4.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Genesco.
Genesco (NYSE:GCO) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.22. The company had revenue of $643.40 million during the quarter, compared to analyst estimates of $644.15 million. Genesco had a net margin of 3.07% and a return on equity of 8.41%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share.
A number of brokerages recently weighed in on GCO. Zacks Investment Research raised shares of Genesco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub raised shares of Genesco from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 price target on shares of Genesco in a research report on Friday, July 14th. ValuEngine raised shares of Genesco from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, Piper Jaffray Companies set a $39.00 price target on shares of Genesco and gave the stock a “buy” rating in a research report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Genesco presently has an average rating of “Hold” and an average target price of $48.29.
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In other news, Director Kevin Patrick Mcdermott acquired 1,000 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were purchased at an average price of $32.32 per share, for a total transaction of $32,320.00. Following the acquisition, the director now directly owns 8,657 shares of the company’s stock, valued at approximately $279,794.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of GCO. Quantbot Technologies LP bought a new stake in shares of Genesco during the first quarter worth about $105,000. Envestnet Asset Management Inc. raised its stake in shares of Genesco by 26.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock worth $130,000 after buying an additional 487 shares during the period. State of Alaska Department of Revenue raised its stake in shares of 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 during the period. PNC Financial Services Group Inc. raised its stake in shares of 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 during the period. Finally, First Quadrant L P CA bought a new stake in shares of Genesco during the second quarter worth about $153,000.
Shares of Genesco (NYSE GCO) traded up 3.50% during mid-day trading on Tuesday, hitting $32.50. The stock had a trading volume of 333,550 shares. Genesco has a 12-month low of $28.88 and a 12-month high of $74.21. The stock has a market cap of $636.77 million, a P/E ratio of 7.30 and a beta of 1.24. The company’s 50 day moving average price is $32.50 and its 200 day moving average price is $48.01.
Genesco Company Profile
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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