Brokerages Anticipate Genesco Inc. (GCO) Will Post Quarterly Sales of $892.17 Million

Brokerages predict that Genesco Inc. (NYSE:GCO) will report $892.17 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided 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 would indicate a positive year-over-year growth rate of 1%. The business is expected to announce its next earnings results on Friday, March 9th.

On average, 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 fiscal year, analysts anticipate that the business will report 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 a mean average based on a survey of research firms that follow Genesco.

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

Several analysts recently commented on GCO shares. Pivotal Research started coverage on shares of Genesco in a report on Thursday, January 25th. They set a “buy” rating and a $44.00 price target for the company. Susquehanna Bancshares restated a “hold” rating and set a $31.00 price target on shares of Genesco in a report on Tuesday, January 16th. Robert W. Baird restated a “hold” rating and set a $35.00 price target on shares of Genesco in a report on Wednesday, January 3rd. Jefferies Group set a $42.00 price target on shares of Genesco and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Zacks Investment Research upgraded shares of Genesco from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Genesco currently has an average rating of “Hold” and an average price target of $37.40.

Genesco (NYSE:GCO) opened at $35.75 on Thursday. Genesco has a fifty-two week low of $20.90 and a fifty-two week high of $63.50. The company has a market cap of $679.04, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.11 and a beta of 1.32. The company has a quick ratio of 0.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.29.

A number of hedge funds and other institutional investors have recently bought and sold shares of GCO. Northern Trust Corp lifted its stake in Genesco by 47.5% in the second quarter. Northern Trust Corp now owns 586,814 shares of the company’s stock valued at $19,893,000 after acquiring an additional 188,906 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Genesco by 635.0% in the third quarter. JPMorgan Chase & Co. now owns 190,388 shares of the company’s stock valued at $5,026,000 after acquiring an additional 164,485 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Genesco by 373.2% in the third quarter. Russell Investments Group Ltd. now owns 188,169 shares of the company’s stock valued at $5,004,000 after acquiring an additional 148,403 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in Genesco in the fourth quarter valued at approximately $3,461,000. Finally, Monarch Partners Asset Management LLC acquired a new stake in Genesco in the fourth quarter valued at approximately $3,241,000. Hedge funds and other institutional investors own 97.99% 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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