FY2018 Earnings Forecast for Genesco Inc. (GCO) Issued By Jefferies Group
Genesco Inc. (NYSE:GCO) – Equities researchers at Jefferies Group raised their FY2018 EPS estimates for Genesco in a research note issued on Tuesday. Jefferies Group analyst R. Konik now forecasts that the company will post earnings of $3.10 per share for the year, up from their prior estimate of $3.07. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Genesco’s Q4 2018 earnings at $2.12 EPS and FY2019 earnings at $3.30 EPS.
Genesco (NYSE:GCO) last issued its quarterly earnings results on Friday, December 1st. The company reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.10). Genesco had a positive return on equity of 6.93% and a negative net margin of 4.24%. The business had revenue of $716.80 million during the quarter, compared to analyst estimates of $706.58 million. During the same quarter last year, the company posted $1.28 EPS. Genesco’s quarterly revenue was up .8% compared to the same quarter last year.
Shares of Genesco (GCO) traded down $1.40 during trading hours on Thursday, reaching $33.80. 649,600 shares of the company traded hands, compared to its average volume of 672,600. Genesco has a one year low of $20.90 and a one year high of $65.70. The company has a current ratio of 2.31, a quick ratio of 0.47 and a debt-to-equity ratio of 0.29. The firm has a market cap of $647.18, a P/E ratio of -5.37, a PEG ratio of 1.21 and a beta of 1.37.
Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Genesco by 844.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 39,766 shares of the company’s stock valued at $1,348,000 after purchasing an additional 35,554 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Genesco by 182.8% in the 2nd quarter. SG Americas Securities LLC now owns 7,962 shares of the company’s stock valued at $270,000 after purchasing an additional 5,147 shares in the last quarter. Legal & General Group Plc lifted its holdings in Genesco by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 50,810 shares of the company’s stock valued at $1,723,000 after purchasing an additional 1,688 shares in the last quarter. Comerica Bank lifted its holdings in Genesco by 6.1% in the 2nd quarter. Comerica Bank now owns 52,332 shares of the company’s stock valued at $1,554,000 after purchasing an additional 3,005 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Genesco by 23.5% in the 2nd quarter. Prudential Financial Inc. now owns 239,867 shares of the company’s stock valued at $8,131,000 after purchasing an additional 45,660 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/01/04/fy2018-earnings-forecast-for-genesco-inc-gco-issued-by-jefferies-group.html.
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.
Receive News & Ratings for Genesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesco and related companies with MarketBeat.com's FREE daily email newsletter.