$706.97 Million in Sales Expected for Genesco Inc. (GCO) This Quarter

Equities research analysts expect Genesco Inc. (NYSE:GCO) to post $706.97 million in sales for the current 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 in the same quarter last year, which indicates a negative year-over-year growth rate of 0.5%. The company is expected to issue its next quarterly earnings results before the market opens on Friday, December 1st.

On average, analysts expect that Genesco will report full-year sales of $706.97 million for the current financial year, with estimates ranging from $2.83 billion to $2.88 billion. For the next year, analysts expect that the firm will report sales of $2.88 billion per share, with estimates ranging from $2.80 billion to $2.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for 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). 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 the consensus estimate of $626.93 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The business’s revenue was down 1.5% on a year-over-year basis.

A number of brokerages recently issued reports on GCO. ValuEngine raised Genesco from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $39.00 target price on shares of Genesco in a research note on Sunday, October 1st. SunTrust Banks set a $33.00 target price on Genesco and gave the stock a “buy” rating in a research note on Monday, October 16th. Morgan Stanley decreased their target price on Genesco from $38.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 13th. Finally, Jefferies Group restated a “hold” rating and issued a $27.00 target price on shares of Genesco in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $33.29.

In other Genesco news, Chairman Robert J. Dennis bought 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, with a total value of $595,250.00. Following the completion of the acquisition, the chairman now owns 224,935 shares of the company’s stock, valued at $5,355,702.35. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mimi Eckel Vaughn bought 10,000 shares of Genesco stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average cost of $24.16 per share, with a total value of $241,600.00. Following the completion of the acquisition, the senior vice president now directly owns 87,140 shares of the company’s stock, 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.

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its holdings in shares of Genesco by 8.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,660 shares of the company’s stock worth $203,000 after purchasing an additional 287 shares in the last quarter. State of Alaska Department of Revenue grew its holdings 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 acquiring an additional 1,703 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of Genesco in the second quarter worth $144,000. First Quadrant L P CA bought a new stake in shares of Genesco in the second quarter worth $153,000. Finally, Pacad Investment Ltd. grew its holdings in shares of Genesco by 109.7% in the second quarter. Pacad Investment Ltd. now owns 7,550 shares of the company’s stock worth $256,000 after acquiring an additional 3,950 shares during the period. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Shares of Genesco (NYSE GCO) opened at $31.10 on Friday. Genesco has a 1-year low of $20.90 and a 1-year high of $72.00. The stock has a market capitalization of $611.51, a price-to-earnings ratio of 9.06, a P/E/G ratio of 0.94 and a beta of 1.27. The company has a current ratio of 2.38, a quick ratio of 0.47 and a debt-to-equity ratio of 0.21.

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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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