Wall Street brokerages expect Genesco Inc. (NYSE:GCO) to post $706.97 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Genesco’s earnings. The highest sales estimate is $712.00 million and the lowest is $703.20 million. Genesco posted sales of $710.82 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.5%. The business 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 expect that the business 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 calculations are an average based on a survey of analysts that follow Genesco.

Genesco (NYSE:GCO) last released its quarterly earnings results on Thursday, August 31st. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). Genesco had a net margin of 2.43% and a return on equity of 7.36%. The business had revenue of $616.50 million during the quarter, compared to analyst estimates of $626.93 million. During the same quarter last year, the company posted $0.34 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis.

Several research firms recently commented on GCO. UBS AG downgraded shares of Genesco from a “positive” rating to a “neutral” rating in a research note on Monday, August 28th. BidaskClub upgraded shares of Genesco from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and issued a $27.00 price target on shares of Genesco in a research note on Thursday, October 12th. ValuEngine upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Buckingham Research reduced their price objective on shares of Genesco from $38.00 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.71.

Genesco (GCO) traded up $0.50 during mid-day trading on Monday, hitting $25.25. 476,800 shares of the company traded hands, compared to its average volume of 396,683. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.38 and a quick ratio of 0.47. Genesco has a fifty-two week low of $20.90 and a fifty-two week high of $72.00. The firm has a market capitalization of $497.98, a P/E ratio of 7.45, a PEG ratio of 0.77 and a beta of 1.27.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Genesco by 45,756.3% in the 1st quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock valued at $137,638,000 after purchasing an additional 2,476,790 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Genesco by 9.4% in the 2nd quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock valued at $69,996,000 after purchasing an additional 177,335 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Genesco by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock valued at $108,905,000 after purchasing an additional 15,003 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Genesco by 0.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 909,846 shares of the company’s stock valued at $24,202,000 after purchasing an additional 3,578 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Genesco by 12.4% in the 2nd quarter. State Street Corp now owns 648,235 shares of the company’s stock valued at $21,977,000 after purchasing an additional 71,541 shares in the last quarter. Institutional investors own 94.65% of the company’s stock.

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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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