Genesco (NYSE:GCO) Issues FY24 Earnings Guidance

Genesco (NYSE:GCO – Get Rating) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.00-2.50 for the period, compared to the consensus EPS estimate of $5.39. The company issued revenue guidance of down 4-5% yr/yr to $2.26-2.29 billion, compared to the consensus revenue estimate of $2.41 billion.

Genesco Price Performance

Shares of NYSE:GCO opened at $29.77 on Thursday. Genesco has a 1-year low of $29.18 and a 1-year high of $66.42. The firm has a market capitalization of $373.91 million, a PE ratio of 5.12 and a beta of 1.93. The business’s 50 day moving average is $34.28 and its 200-day moving average is $42.03. The company has a current ratio of 1.59, a quick ratio of 0.32 and a debt-to-equity ratio of 0.07.

Genesco (NYSE:GCO – Get Rating) last announced its quarterly earnings data on Thursday, March 9th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.04. Genesco had a return on equity of 12.23% and a net margin of 3.02%. The company had revenue of $725.00 million for the quarter, compared to analyst estimates of $727.43 million. During the same quarter last year, the firm earned $3.48 EPS. Genesco’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts predict that Genesco will post 5.39 earnings per share for the current year.

Analyst Ratings Changes

GCO has been the subject of several analyst reports. Seaport Res Ptn upgraded Genesco from a neutral rating to a buy rating in a research report on Tuesday, March 28th. StockNews.com initiated coverage on Genesco in a research report on Thursday, May 18th. They set a hold rating for the company.

Hedge Funds Weigh In On Genesco

Several institutional investors have recently bought and sold shares of GCO. Balyasny Asset Management LLC raised its position in Genesco by 67.0% in the 3rd quarter. Balyasny Asset Management LLC now owns 284,356 shares of the company’s stock valued at $11,181,000 after purchasing an additional 114,053 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Genesco in the 1st quarter valued at $5,910,000. Alliancebernstein L.P. raised its position in Genesco by 13.4% in the 4th quarter. Alliancebernstein L.P. now owns 671,250 shares of the company’s stock valued at $30,891,000 after purchasing an additional 79,167 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Genesco in the 1st quarter valued at $2,300,000. Finally, Marshall Wace LLP bought a new position in Genesco in the 3rd quarter valued at $1,554,000. Institutional investors own 94.27% of the company’s stock.

About Genesco

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Genesco, Inc engages in sourcing and design, marketing, and distribution of footwear, apparel, and accessories. It operates through the following business segments: Journeys Group, Schuh Group, Johnston and Murphy Group, and Genesco Brands Group. The Journeys Group segment operates the Journeys, Journeys Kidz, and Little Burgundy retail stores retail footwear chain.