Zacks: Brokerages Anticipate Genesco Inc. (GCO) Will Post Quarterly Sales of $706.97 Million
Brokerages predict that Genesco Inc. (NYSE:GCO) will announce $706.97 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Genesco’s earnings. The highest sales estimate is $712.00 million and the lowest is $703.20 million. Genesco reported sales of $710.82 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.5%. The firm is scheduled to report its next earnings report on Friday, December 1st.
On average, analysts expect that Genesco will report full year sales of $706.97 million for the current fiscal year, with estimates ranging from $2.83 billion to $2.89 billion. For the next year, analysts anticipate that the business will post sales of $2.89 billion per share, with estimates ranging from $2.80 billion to $2.93 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Genesco.
Genesco (NYSE:GCO) last posted its quarterly earnings data on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The firm had revenue of $616.50 million for the quarter, compared to analysts’ expectations of $626.93 million. Genesco had a net margin of 2.43% and a return on equity of 7.36%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS.
A number of analysts have commented on GCO shares. B. Riley reissued a “buy” rating and issued a $50.00 price objective on shares of Genesco in a report on Saturday, May 27th. Piper Jaffray Companies set a $39.00 price objective on Genesco and gave the company a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research cut Genesco from a “hold” rating to a “strong sell” rating in a report on Thursday, June 1st. BidaskClub raised Genesco from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $48.00 price objective on shares of Genesco in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Genesco currently has a consensus rating of “Hold” and a consensus target price of $37.57.
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Shares of Genesco (GCO) opened at 26.25 on Friday. The stock has a market cap of $522.87 million, a PE ratio of 7.37 and a beta of 1.29. The firm has a 50-day moving average price of $26.94 and a 200-day moving average price of $40.80. Genesco has a 12 month low of $20.90 and a 12 month high of $72.00.
In other news, SVP Mimi Eckel Vaughn acquired 10,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $24.16 per share, for a total transaction of $241,600.00. Following the purchase, the senior vice president now owns 87,140 shares in the company, valued at $2,105,302.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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, with a total value of $32,320.00. Following the completion of the purchase, the director now owns 8,657 shares in the company, valued at approximately $279,794.24. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 36,000 shares of company stock valued at $869,170. 3.30% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of GCO. Quantbot Technologies LP acquired a new position in shares of Genesco during the 1st quarter worth approximately $105,000. Envestnet Asset Management Inc. boosted its holdings in shares of Genesco by 26.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,347 shares of the company’s stock worth $130,000 after purchasing an additional 487 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Genesco by 77.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,893 shares of the company’s stock worth $131,000 after purchasing an additional 1,703 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Genesco by 44.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,538 shares of the company’s stock worth $142,000 after purchasing an additional 775 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Genesco during the 2nd quarter worth approximately $144,000. Institutional investors own 95.93% of the company’s stock.
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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