Zacks: Brokerages Anticipate Genesco Inc. (GCO) Will Announce Quarterly Sales of $892.17 Million

Brokerages expect Genesco Inc. (NYSE:GCO) to report sales of $892.17 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Genesco’s earnings, with estimates ranging from $869.00 million to $906.50 million. Genesco posted sales of $883.17 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1%. The business is expected to issue its next earnings results on Friday, March 9th.

According to Zacks, analysts expect that Genesco will report full year sales of $892.17 million for the current year, with estimates ranging from $2.85 billion to $2.88 billion. For the next financial year, analysts expect that the company will post sales of $2.88 billion per share, with estimates ranging from $2.85 billion to $2.91 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Genesco.

Genesco (NYSE:GCO) last issued its earnings results on Friday, December 1st. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $716.80 million during the quarter, compared to analyst estimates of $706.58 million. During the same period in the previous year, the company earned $1.28 EPS. Genesco’s revenue for the quarter was up .8% on a year-over-year basis.

A number of equities analysts have issued reports on the company. Jefferies Group set a $42.00 target price on Genesco and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research raised Genesco from a “strong sell” rating to a “hold” rating in a report on Thursday, January 4th. Susquehanna Bancshares reaffirmed a “hold” rating and issued a $31.00 target price on shares of Genesco in a report on Tuesday, January 16th. ValuEngine cut Genesco from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, SunTrust Banks set a $33.00 target price on Genesco and gave the stock a “buy” rating in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Genesco currently has an average rating of “Hold” and a consensus price target of $36.25.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new stake in shares of Genesco in the 2nd quarter valued at about $144,000. Public Employees Retirement System of Ohio boosted its position in shares of Genesco by 16.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,278 shares of the company’s stock valued at $145,000 after purchasing an additional 618 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new stake in shares of Genesco during the 3rd quarter valued at about $226,000. Crossmark Global Holdings Inc. bought a new stake in shares of Genesco during the 3rd quarter valued at about $240,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Genesco by 32.6% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,780 shares of the company’s stock valued at $287,000 after purchasing an additional 2,650 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

Genesco (NYSE GCO) opened at $36.40 on Monday. Genesco has a fifty-two week low of $20.90 and a fifty-two week high of $63.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.31 and a quick ratio of 0.47. The stock has a market capitalization of $724.84, a PE ratio of -5.75, a price-to-earnings-growth ratio of 1.25 and a beta of 1.37.

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About Genesco

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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