Equities analysts forecast that Genesco Inc. (NYSE:GCO) will announce sales of $633.27 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Genesco’s earnings, with estimates ranging from $619.50 million to $649.30 million. Genesco posted sales of $625.56 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.2%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, August 31st.
On average, analysts expect that Genesco will report full-year sales of $633.27 million for the current fiscal year, with estimates ranging from $2.90 billion to $2.92 billion. For the next financial year, analysts anticipate that the business will report sales of $2.96 billion per share, with estimates ranging from $2.95 billion to $2.97 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Genesco.
Genesco (NYSE:GCO) last posted its quarterly earnings results on Thursday, May 25th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.22. Genesco had a return on equity of 8.41% and a net margin of 3.07%. The company had revenue of $643.40 million for the quarter, compared to the consensus estimate of $644.15 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. Genesco’s revenue was down .8% compared to the same quarter last year.
Several brokerages recently weighed in on GCO. Zacks Investment Research upgraded shares of Genesco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub upgraded shares of Genesco from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and set a $48.00 price target on shares of Genesco in a research report on Friday, July 14th. ValuEngine upgraded shares of Genesco from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, Piper Jaffray Companies set a $39.00 price target on shares of Genesco and gave the stock a “buy” rating in a research report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.29.
In related news, Director Kevin Patrick Mcdermott acquired 1,340 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were purchased at an average cost of $37.18 per share, with a total value of $49,821.20. Following the completion of the transaction, the director now owns 5,192 shares of the company’s stock, valued at approximately $193,038.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Genesco by 45,756.3% in the first quarter. BlackRock Inc. now owns 2,482,203 shares of the company’s stock valued at $137,638,000 after buying an additional 2,476,790 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Genesco by 9.4% in the second quarter. Eagle Asset Management Inc. now owns 2,064,808 shares of the company’s stock valued at $69,996,000 after buying an additional 177,335 shares in the last quarter. Vanguard Group Inc. increased its stake in Genesco by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,964,020 shares of the company’s stock valued at $108,905,000 after buying an additional 15,003 shares in the last quarter. Royce & Associates LP increased its stake in Genesco by 1.2% in the first quarter. Royce & Associates LP now owns 659,510 shares of the company’s stock valued at $36,570,000 after buying an additional 7,500 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Genesco by 59.2% in the second quarter. Victory Capital Management Inc. now owns 647,015 shares of the company’s stock valued at $21,934,000 after buying an additional 240,722 shares in the last quarter.
Genesco (NYSE:GCO) traded up 0.88% on Thursday, hitting $28.70. The stock had a trading volume of 342,689 shares. Genesco has a 1-year low of $27.75 and a 1-year high of $74.21. The firm has a market capitalization of $562.32 million, a price-to-earnings ratio of 6.45 and a beta of 1.24. The stock’s 50-day moving average is $32.07 and its 200 day moving average is $46.89.
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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