Brokerages expect that Genesco Inc. (NYSE:GCO) will announce $706.97 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Genesco’s earnings. The lowest sales estimate is $703.20 million and the highest is $712.00 million. Genesco reported sales of $710.82 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.5%. The company is scheduled to issue its next quarterly earnings report on Friday, December 1st.

On average, analysts expect that Genesco will report full year sales of $706.97 million for the current year, with estimates ranging from $2.83 billion to $2.89 billion. For the next year, analysts anticipate that the firm will report sales of $2.89 billion per share, with estimates ranging from $2.80 billion to $2.93 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Genesco.

Genesco (NYSE:GCO) last released its earnings results on Thursday, August 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). The firm had revenue of $616.50 million during 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%. Genesco’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share.

A number of equities analysts recently weighed in on the company. Piper Jaffray Companies set a $39.00 price target on Genesco and gave the stock a “buy” rating in a research note on Saturday, June 24th. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a research note on Monday. BidaskClub raised Genesco from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 target price on shares of Genesco in a research note on Friday, July 14th. Finally, UBS AG cut Genesco from a “positive” rating to a “neutral” rating in a research note on Monday, August 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.67.

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In other news, Chairman Robert J. Dennis purchased 25,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the acquisition, the chairman now directly owns 224,935 shares in the company, valued at $5,355,702.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mimi Eckel Vaughn purchased 10,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price of $24.16 per share, with a total value of $241,600.00. Following the completion of the acquisition, the senior vice president now owns 87,140 shares in the company, valued at $2,105,302.40. The disclosure for this purchase can be found here. Insiders own 3.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in GCO. Russell Investments Group Ltd. lifted its holdings in shares of Genesco by 130.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,212 shares of the company’s stock valued at $233,000 after buying an additional 2,388 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Genesco by 2.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 27,571 shares of the company’s stock valued at $1,525,000 after buying an additional 633 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Genesco by 30.0% during the 1st quarter. First Trust Advisors LP now owns 51,507 shares of the company’s stock valued at $2,856,000 after buying an additional 11,882 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Genesco by 48.5% during the 1st 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, UBS Asset Management Americas Inc. lifted its holdings in shares of Genesco by 145.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 10,536 shares of the company’s stock valued at $584,000 after buying an additional 6,237 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

Genesco (NYSE GCO) opened at 25.70 on Thursday. The stock has a market capitalization of $511.92 million, a price-to-earnings ratio of 7.22 and a beta of 1.36. The firm has a 50-day moving average of $25.24 and a 200-day moving average of $37.65. Genesco has a 12-month low of $20.90 and a 12-month high of $72.00.

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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Earnings History and Estimates for Genesco (NYSE:GCO)

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